TSL Express Daily Articles & News

Victory Park Capital (“VPC”), a leading global alternative investment firm specializing in private credit, announced today the final close of its latest fundraise for its Asset Backed Opportunistic Credit strategy (the “Fund”). The Fund is oversubscribed at $2.4 billion of committed and investable capital, including separately managed accounts investing alongside the Fund.

Troutman Pepper earned 16 nationwide practice rankings in The Legal 500 United States 2022, an independent ranking authority of law firms around the world. The U.S. edition also recognized 51 Troutman Pepper attorneys in its editorial commentary for their standout practice contributions. View all firm rankings.

Castleton Commodities International LLC (CCI) announced today it has closed a $2.2 billion borrowing base facility consisting of a $1 billion 1.5-year tranche and a $1.2 billion 2-year tranche. The facility also includes a $1 billion accordion, which remains available to support future liquidity needs and growth. A diverse group of 17 banks from eight countries participated in the facility.

Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A. and its HSA Bank division, announced today that Vikram Nafde has been appointed to Executive Vice President, Chief Information Officer in charge of Information Technology. As a member of Webster Bank's Executive Management Committee (EMC), Vikram is responsible for the strategy and execution of all Webster technology, including cybersecurity, data strategy and tech innovation.

H.I.G. Bayside Capital (“Bayside”), the special situations and distressed debt affiliate of H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $49 billion of equity capital under management, is pleased to announce the promotion of Mathilde Malezieux to Managing Director.

The transaction has been unanimously approved by the boards of TexStar National Bank and American Bank, as well as the bank holding companies of each. It is subject to customary closing conditions, including regulatory approvals. TexStar National Bank, a subsidiary of TexStar Bancshares Inc., had total assets of $458 million as of March 31 and has six locations in the San Antonio area. Following the completion of the deal, TexStar National Bank will merge with and into American Bank.

Cornerstone quickly approved and funded an expandable line of credit with no long-term commitments and with no minimums.

Viva Capital Funding, LLC (“Viva”), a leading invoice factoring specialty finance company, announced today the closing of $18.5 million of Senior Secured Notes to a group of institutional investors. The transaction was assigned a BBB rating by a nationally recognized statistical ratings organization. Proceeds will be used by the Company to restructure existing debt and support additional growth of the business.

White Oak Global Advisors, LLC (“White Oak”) announced today it has provided a term loan to Benada Aluminum Products (“Benada”), a leading, full-service aluminum extrusion operation servicing a diverse mix of building products, distribution, storm protection and industrial customers across the Southeastern United States. The transaction was made alongside an asset-based loan (ABL) facility by White Oak Commercial Finance (WOCF), an affiliate of White Oak.

Revlon Inc. plunged 53%, the biggest one-day drop on record, after distressed debt news outlet Reorg reported that the cosmetics empire is preparing to file for bankruptcy. The company, controlled by billionaire Ronald Perelman, could file as soon as next week, Reorg said, citing unnamed sources. Revlon shares triggered multiple trading halts Friday because of the volatility, closing at $2.05 in New York.

John Madigan was named Managing Group Director, leading a team of six, all of whom joined from Citibank. Madigan formerly was Managing Director for Long Island in the Emerging Corporates Group in Hauppauge, Long Island, N.Y., where he managed a large portfolio of business clients and a team of eight. He began his career there and went on to serve in various roles of increasing responsibility over three decades.

Bank of Montreal (TSX:BMO) (NYSE:BMO) today announced the upcoming retirement of its Chief Risk Officer, Patrick Cronin, and the appointment of Piyush Agrawal into the role. Mr. Agrawal will join the bank as Deputy Chief Risk Officer on July 1 and, after a transition period with Mr. Cronin, become Chief Risk Officer on November 1.

DarioHealth Corp. (NASDAQ: DRIO), a leader in the global digital therapeutics (DTx) market, announced today it closed a senior secured term loan facility of up to $50 million with OrbiMed, a leading investor in the healthcare industry, providing non-dilutive capital to fund the continued development of its platform and the acceleration of its adoption in the multi-billion dollar global chronic disease management market.

CIFC Asset Management LLC (“CIFC”), an alternative credit specialist serving institutional investors globally with approximately $40 billion in assets under management, today announced that Conor Daly, former Managing Director, Head of European Credit at Onex Credit, has joined CIFC as Head of European Credit.

Trustmark National Bank, a wholly-owned subsidiary of Trustmark Corporation (NASDAQGS:TRMK) is pleased to announce that Duke Hinds has recently joined Trustmark as Director of Commercial Banking, and will be responsible for Trustmark’s commercial products and sales strategy. He joins Trustmark with 26 years of banking experience.

Paul Hastings announced today that Eduardo Gallardo, a preeminent M&A and corporate takeover defense lawyer, has joined the firm as Global Co-Chair of Mergers and Acquisitions, where he will focus on advising clients on mergers and acquisitions, takeover defense, shareholder activism, corporate governance and other corporate matters.

The first, is a $4,000,000 limit to a privately owned packager of specialty food products. The second, a $3,000,000 limit for a consumer-packaged goods company with a unique portfolio of specialty food and beverage brands. Additionally, Tradecycle increased four existing client relationships by $2,500,000 to support the organic growth of their clients.

Callodine Commercial Finance (“CCF” or the “Company”) today announced that the Company’s current Chief Financial Officer, Chief Operating Officer and Chief Compliance Officer, Oz Street, will retire after 15 years of distinguished service with CCF and its predecessor companies. CCF has hired industry veteran Stephen Rainville to succeed Mr. Street in his role.

WesBanco, Inc. (NASDAQ: WSBC), a diversified, multi-state bank holding company, announced today that industry veteran Richard Hunt has been named Executive Vice President and Director of Commercial & Industrial Banking. In his new role, Mr. Hunt will lead and execute the strategic direction of the Commercial & Industrial Banking division for WesBanco.

Cumulus Media Inc. (NASDAQ: CMLS) (the "Company” or "Cumulus Media") today announced that Cumulus Media New Holdings Inc., its indirect wholly owned subsidiary, entered into an amendment (the “Amendment”) of its existing $100 million revolving credit facility (as amended, the “Revolving Credit Facility”).