TSL Express Daily Articles & News

AIO Logic is announcing the launch of their AXIS commercial lending platform. AXIS by AIO Logic provides commercial lenders with increased efficiency and accuracy throughout the loan life cycle by providing them with unprecedented automation and analytics within an end-to-end origination, management, and servicing platform.

Hersha Hospitality Trust (NYSE: HT) (“Hersha” or the “Company”), owner of luxury and lifestyle hotels in coastal gateway and resort markets, today announced the Company closed on the refinancing of a $500 million Senior Secured Credit Facility (the “Credit Facility”) and the closing of the first tranche of six of the previously announced disposition of seven non-core Urban Select Service properties (the “USS Portfolio”).

Alliance Entertainment Holding Corporation (“Alliance Entertainment”), a distributor and wholesaler of the world’s largest in stock selection of music, movies, video games, electronics, arcades, and collectibles, today announced the June 30, 2022, expansion for their line of credit to $225,000,000 from $175,000,000.

Katten announced today that the firm’s Executive Committee approved the promotion of 19 attorneys to partner. “We have seen this group of attorneys perform to the highest standards, develop effective skills and provide excellent client service, contributing significantly to the success of their practices and the firm overall,” said Katten Chairman Roger P. Furey. “We congratulate them on this major career achievement.”

The Greenbrier Companies (NYSE:GBX) announced that its Greenbrier Leasing subsidiary has entered a new $150M term loan to finance the continued growth of its leasing fleet. The new loan is non-recourse to Greenbrier, matures in July 2027 and has terms similar to Greenbrier Leasing's term loan completed in August 2021.

Acquisition will create an integrated North American dealer, significantly accelerating TD Securities’ U.S. growth strategy. TD Bank Group (“TD”) (TSX: TD) and (NYSE: TD) and Cowen Inc. (“Cowen”) (NASDAQ: COWN) today announced a definitive agreement for TD to acquire Cowen in an all-cash transaction valued at US$1.3 billion, or US$39 for each share of Cowen common stock. Through this transaction, TD Securities will accelerate its long-term growth strategy in the United States by acquiring a high-quality and rapidly growing investment bank with outstanding talent and highly complementary products and services.

LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events, announced today that East West Bank has extended LiveOne's $7 million secured revolving credit facility until June 2024 year. The facility bears interest at the Prime Rate plus 0.5%.

Al is an industry veteran with over 30 years in the industry starting with Southeast Bank, ABLC and Synovus Bank. He is the consummate field examination professional who was trained by Don Clarke at ABLC in the early 1990’s.

CIT, a division of First Citizens Bank, has named Kevin Ronan, senior vice president and managing director, as the group head of its Capital Equipment Finance business. CIT’s Capital Equipment Finance business is a leading nationwide provider of leasing and financing products to middle market and large-cap commercial clients and draws upon decades of experience since CIT’s founding in 1908.

FreshBooks, a leading accounting software with paying customers in 160+ countries, today announced that it has secured a $100 million USD syndicated debt facility with BMO Financial Group (BMO) and J.P. Morgan (JPM). The facility also includes an uncommitted accordion feature of $25 million USD, for a total borrowing capacity of up to $125 million USD. With BMO as the Sole Bookrunner and Administrative Agent, this debt facility will enable FreshBooks to continue its rapid global expansion plans, including strategic acquisitions and investment into more regulated markets.

Brightwood Capital Advisors ("Brightwood"), a leading private credit firm, today announced that it has agreed to provide financing to Yardbird Group (the "Company") to execute on an opportunistic growth strategy and further enhance the Company's existing operations. The investment is the latest being made through Brightwood's third SBIC fund, Brightwood Capital SBIC III, LP.

Gordon Brothers, the global advisory, restructuring and investment firm, has acquired the global ORSAY brand, archives, and related trademarks and other intellectual property from Orsay GmbH. The firm has partnered with SCAYLE to continue its growth in addition to maintaining ORSAY’s existing franchisees.

NewLake Capital Partners, a cannabis industry real estate investment trust (REIT), expanded its five-year revolving credit facility by $60 million to $90 million. The Connecticut-based company announced the original $30 million credit facility from an unidentified lender in May.

Bill Mayer to retire after 34 years in the financial industry. Wells Fargo & Company (NYSE: WFC) announced Amrita Patel will lead Wells Fargo Equipment Finance (WFEF), which offers specialized financing for purchase, acquisition or leasing of assets pertaining to equipment, transportation and rental fleets, as well as comprehensive vendor and dealer programs. Patel will report to Mary Katherine DuBose, head of the bank’s secured lending and leasing businesses within Wells Fargo Commercial Banking.

CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has extended a $22,250,000 "B" piece secured loan in connection with the acquisition of a 5-asset skilled nursing portfolio in California. The portfolio includes approximately 600 skilled nursing beds.

FNB and WesBank have combined their asset based finance capabilities and are pleased to announce the appointment of Khantse Radebe as chief executive officer of this business.

NewLake Capital Partners, Inc. NLCP, a provider of real estate capital to state-licensed cannabis operators, has added two lenders to its existing five-year revolving credit facility and upsized the aggregate commitment under the facility from $30 million to $90 million. The credit facility matures in May 2027 and has a fixed interest rate of 5.65% for the first three years and a floating rate thereafter. The credit facility allows for further expansion as additional lenders are added, or the commitments of existing lenders are increased.

Alterna Capital Solutions (Alterna), a specialty and alternative financing lender to small businesses experiencing growth, announced today the addition of Greg L’Herault as SVP, Sales and Originations to meet demand in the Mountain and Desert region, including the states of Arizona, Colorado, Idaho, Nebraska, and Utah. Based in Colorado, L’Herault is responsible for business development across the region working with referral partners in commercial banking, private equity, investment banking, accounting, financial consulting, turnaround management, and legal counsel.

August 2, 2022 – Ares Commercial Finance announced today that it has provided a $15 million senior secured credit facility to PS Energy Group, Inc. PS Energy is a privately-owned, certified diverse and women-owned enterprise that provides transportation fuels, emergency fueling and fleet management technology and services to utilities, government and enterprise clients. The credit facility consists of an asset based revolving line of credit. Proceeds of the credit facility will be used to refinance existing indebtedness and for ongoing working capital.

Cambridge, MA, —August 3rd, 2022— Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced that its Corporate Banking team provided new client, Fulfillment America, Inc, with a $6.5 million financing package to support its next phase of growth. Headquartered in Billerica, Mass., Fulfillment America is a national six sigma fulfillment organization that provides B2C and B2B fulfillment services, including warehousing, printing, kit assembly, logistics, and more.