TSL Express Daily Articles & News

Webster Bank is pleased to announce that it is expanding its commitment to its Asset Based Lending division with the addition of Chris McKernan as Managing Director, ABL Originations. McKernan will report to David Viggiano, Sales Manager, West Region, Asset Based Lending.

Star Funding, Inc. a New York City based provider of purchase order financing and factoring, announces the completion of a $7,000,000 purchase order finance and factoring facility to support a fast-growing supplier of hearing products to Walmart.

Converge Technology Solutions Corp. (“Converge” or “the Company”) (TSX:CTS) (FSE:0ZB) (OTCQX:CTSDF), a software-enabled IT & Cloud Solutions provider, is pleased to announce it has refinanced its existing $300 million ABL credit facility with a new five-year $500 million global revolving credit facility (the “Global Credit Facility”) led by J.P. Morgan and Canadian Imperial Bank of Commerce as joint lead arrangers, with the Bank of Nova Scotia, the Toronto-Dominion Bank, and the Bank of Montreal participating in the lender group.

Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ("Equinox Gold" or the "Company") is pleased to announce it has strengthened its balance sheet and increased its liquidity by amending its existing credit facility.

Michael Doyle, Vice President II – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announces a recently closed and funded $10 million revolving line of credit, equipment term loan, and real estate term loan for an infrastructure and foundation repair company seeking to refinance.

Ares Management Corporation announced today that funds managed by its Credit Group (collectively “Ares”) closed approximately $5.9 billion in U.S. direct lending commitments across 58 transactions during the second quarter of 2022 and approximately $31.8 billion in direct lending commitments across 259 transactions in the last twelve-month period ended June 30, 2022.

F.N.B. Corporation (NYSE: FNB) announced its next phase of strategic expansion in Virginia, including further growth of its retail network in the greater Washington, D.C. area and plans to extend its significant commercial banking operations into Richmond with a new loan origination center.

First Internet Bank announced today the addition of Paul DePasquale to its Small Business Administration (SBA) Lending team as Vice President, Senior Business Development Officer. The move further demonstrates the Bank’s commitment to small businesses nationwide.

First Eagle Alternative Credit ("FEAC" or “the Firm”), the $21 billion credit platform of First Eagle Investments, today announced the close of its fifth direct lending fund at over $1 billion in total available capital, including leverage (the “Direct Lending Fund V”). In the past 12 months, the Firm has created over $2.2 billion in available capital to support its robust direct lending origination business through two middle market CLOs, an interval fund, and separate accounts in addition to the Direct Lending Fund V.

Citizens announced today that the national Citizens Business Conditions Index™ (CBCI) dropped to 52.9 in the second quarter of 2022, down from its eight-year peak of 59.5 at the end of the first quarter, but extending its streak to seven straight quarters above 50, indicating continued growth conditions for businesses.

Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce that Aaron Stoppelmann has been promoted to Vice President.

Global law firm White & Case LLP has advised the lenders on a senior term and revolving credit facility entered into by Ambienta SGR to finance the acquisition of Calpeda S.p.A., a global manufacturer of pumps, motors and systems for the integrated water cycle.

Elevation Oncology, Inc. (Nasdaq: ELEV), a clinical stage biopharmaceutical company focused on the development of precision oncology products for patients with genomically defined cancers, today announced that it has secured a $50 million senior secured loan facility from funds managed by K2 HealthVentures, a leading healthcare-focused investment firm. The

A&G Real Estate Partners was named “Real Estate Restructuring Firm of the Year” at Global M&A Network’s 14th Annual Turnaround Atlas Awards. The July 21 announcement marked the third consecutive year in which the Melville-based advisory firm has received the honor. A&G specializes in occupancy-cost reductions, lease optimization and real estate sales nationwide.

InPlay Oil Corp. is pleased to provide an operations update and announce the completion of the annual renewal of its syndicated Senior Credit Facility. InPlay’s Senior Credit Facility remains unchanged in lending capacity and has been renewed at $79 million comprised of a $65 million revolving facility(1) and the remaining $14 million term facility. The borrowing base of the revolving facility has been reconfirmed at the same amount of $65 million and the term out date extended to November 30, 2022.

Fast AR Funding, a program of Republic Business Credit, provided a $400,000 growth-orientated selective factoring solution with a high advance rate to jumpstart the company’s founding. The partnership with Fast AR and its decade-long track record of flexibility enabled the company to address market and customer needs without having to worry about how fast they were growing.

Tradewind Finance has closed a $350,000 credit facility for a leather handbag manufacturer based in India. The company exports their wares to Canada and the USA to stock the shelves of a retailer beloved for selling brand names at affordable prices.

Prestige provided a $1,000,000 invoice finance facility to handle immediate cash needs and will continue to increase the line as the client grows and acquires new entities.

Huntington Business Credit announced it closed $35,000,000 in new credit facilities with American Kenda Rubber Industrial Co. Ltd. (dba Kenda USA) on June 28, 2022. Proceeds of the facility were used to refinance existing indebtedness and provide ongoing working capital growth financing.

VSS Capital Partners (“VSS”), a private investment firm investing in the healthcare, business services and education industries, today announced the addition of Eric Kim as Principal and Sai Parepally as Vice President, respectively. Leveraging their experience in the healthcare, IT, and financial services sectors, the executives will work collaboratively with VSS’ investment professionals to source new transactions, perform due diligence and support portfolio company management teams.