TSL Express Daily Articles & News

Verdant Commercial Capital, LLC executed a multiyear program agreement with Synovus Bank to provide a new equipment finance offering — Synovus Equipment Leasing — for Synovus Bank commercial customers. Through the offering, leasing and equipment finance agreements for essential use equipment can range from $25,000 to $50 million. The program is for Synovus commercial customers only and is now available.

Concord Capital Partners has appointed Samuel Landman as chief investment officer (CIO). The commercial real estate veteran will work on the acquisition, financing, and disposition of real estate assets to help drive the firm’s growth. Landman has more than 17 years of experience sourcing, acquiring, developing and structuring multifamily, industrial and office projects nationally and globally.

Divergent Technologies Inc. ("Divergent"), the company that has developed the world's first end-to-end digital production system to revolutionize industrial-scale manufacturing, announced today that it has closed a new $60 million venture loan facility led by Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), and a new $20 million revolving line of credit provided by Bridge Bank, a division of Western Alliance Bank

Comvest Credit Partners (“Comvest”), a leading provider of flexible financing solutions to middle-market companies, has acted as Administrative Agent in providing a new $120 million senior secured credit facility (the “Financing”) to Purchasing Power. The transaction, with institutional alternative management firm Crestline Investors, marks a continuation of Comvest’s support of the Atlanta-based voluntary benefits provider of employee purchase programs.

Natixis Corporate & Investment Banking ("Natixis CIB") today announced the appointments of Brad Roberts and David Williams as Co-Heads of Credit Americas, where they will be responsible for overseeing the Global Structured Credit & Solutions Group, as well as credit sales and trading at Natixis CIB.

SFNet is pleased to announce the winners of the SFNet Cross-Border Finance Essay Contest, sponsored by Goldberg Kohn. The following essays will appear in upcoming issues of The Secured Lender and in TSL Express. Authors of the winning essays will be invited to participate in a panel at SFNet’s 78th Annual Convention in Austin, TX, Nov. 9-11.

Confidence in the asset-based lending market was positive in the first quarter but banks and other lenders are watchful of an economy that shows a mix of highs and lows, according to data released by the Secured Finance Network. SFNet surveyed bank and non-bank asset-based lenders (ABLs) on key indicators for its quarterly Asset-Based Lending Index and SFNet Confidence Index.

North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lessor headquartered in Norwalk, Connecticut, reported an all-time high in funding volume for the second quarter of 2022. Funded volume surged to $147 million, up 34% from the first quarter of 2022 and up 108% from the second quarter of 2021.

Tradewind Finance announced today it has funded a rapidly-growing chemicals company based in India that manufactures solutions and dyes intended for a variety of applications, including pharmaceuticals, food processing, and personal care products. The funding is being used for working capital purposes, including the purchase of raw materials.

Assembled Brands continues its growth hiring and is pleased to announce that Clifford Davis II has joined its team as an ABL Portfolio Analyst in Los Angeles, CA. In this role, Davis is responsible for portfolio management, operational and collateral compliance, monitoring as well as reporting.

King & Spalding announced today that Kathleen “Katie” Blaszak has joined the firm as a partner in the Corporate, Finance and Investments (CFI) Practice Group. She is based in the firm’s Northern Virginia office.

Helix Energy Solutions Group, Inc. (“Helix”) (NYSE: HLX) announced today its successful completion of the previously announced acquisition of all of the equity interests of the Alliance group of companies (collectively “Alliance”), expanding its decommissioning presence in the Gulf of Mexico shelf and advancing Helix’s environmental, social and governance (“ESG”) initiatives by responsibly supporting end-of-life requirements of oil and gas projects. Bank of America, N.A. serves as Administrative Agent for the ABL facility.

idley Austin LLP is pleased to welcome Stephen E. Hessler as the global practice leader of the Restructuring group. He will be based in the New York office and joins after almost two decades at Kirkland & Ellis LLP, where he led some of the most significant chapter 11 cases in history — including, most recently, Frontier Communications and Windstream Holdings.

FTI Consulting, Inc. (NYSE: FCN) today announced its continued investment in its Corporate Finance & Restructuring segment in Asia with the appointment of Martin Wong as a Senior Managing Director. Based in Singapore, Mr. Wong brings over 24 years of experience in rehabilitative corporate restructuring and insolvency administration involving judicial management appointments, schemes of arrangement, receiverships, and voluntary and court liquidation.

Axis Auto Finance Inc. (“Axis” or the “Company”) (TSX: AXIS), a fintech lender servicing the alternative auto finance market, announced today that its wholly owned subsidiary, Pivotal Capital Corp. (“Pivotal”) has secured an additional Funding Facility (the “Facility”) with Mitsubishi HC Capital Canada, Inc. (“MHCCA”).

Wells Fargo & Company (NYSE: WFC) announced today that Otis Rolley is joining the company as head of Social Impact, leading community engagement and enterprise philanthropy, including the Wells Fargo Foundation. Rolley will report to Bill Daley, vice chairman of Public Affairs, effective August 1.

The 447 commercial chapter 11 filings in June represented a 29 percent increase from the 347 filings in June 2021, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. Overall commercial filings decreased 7 percent in June 2022, as the 1,864 filings were down from the 1,999 commercial filings registered in June 2021.

RefleXion Medical, a therapeutic oncology company pioneering the use of biology-guided radiotherapy (BgRT)* for all stages of cancer, today announced the closing of a $125M debt facility, of which $55M is available immediately to repay the company’s existing $50M of debt.

Bank of America has named Brian King president of Bank of America Maine. King succeeds Bill Williamson, who held the position for 10 years and has announced his decision to retire next year after more than 40 years with the company. As president, King will be responsible for connecting the banking and investment resources offered through the bank’s eight lines of business to people and companies across Maine.

Regions Bank on Wednesday formally announced the establishment and continued business growth of a Commercial Corporate Finance (CCF) team that is connecting business leaders with specialized resources, insights, and guidance on opportunities including ownership transitions, financing alternatives, and risk management. The team is led by Coulter Warlick, who joined Regions in 2021 to develop and launch this team.