TSL Express Daily Articles & News

Louise Walker, Chief Executive Officer of First Northern Bank and First Northern Community Bancorp (OTCQB: FNRN), has formally announced her retirement, effective December 31, 2022. With unanimous support of the Board, Ms. Walker announced today that Jeremiah Smith, currently Senior Executive Vice President and Chief Operating Officer, will be promoted to President and Chief Executive Officer of the Company and the Bank effective January 1, 2023, as her successor.

Debt financing for the transaction was secured under an expanded senior credit facility provided by Regions Bank, UMB Bank N.A., Century Bank, and Third Coast Bank SSB. Legal representation for the transaction was provided by Winston & Strawn, LLP.

J.P. Morgan is the Administrative Agent; J.P. Morgan, Bank of America and Wells Fargo served as Joint Lead Arrangers and Joint Bookrunners; Bank of America and Wells Fargo are the Syndication Agents; and Citizens Bank is the Documentation Agent.

Phoenix’s Q2 2022 “Lending Climate in America” survey asked lenders to identify that greatest risk to the U.S. economy. Fifty-six percent of the lenders surveyed believe supply chain disruptions will be the greatest risk to the U.S. economy. Of the lenders surveyed, twenty-two percent believe federal reserve policy will be the greatest risk, while 17% believe rising interest rates will be the greatest risk to the U.S. economy. Five percent of lenders stated that tight labor markets will be the greatest risk.

Ascend Wellness Holdings, Inc. ("AWH" or the "Company") (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator focused on bettering lives through cannabis, is pleased to announce that it has closed on $36.5M of additional funding under the increase option of its existing term loan credit facility.

Kolibri Global Energy Inc. (the “Company” or “KEI”) (TSX: KEI, OTCQB: KGEIF (temporarily: KGEID)), announces that its indirect wholly owned subsidiary BNK Petroleum (US) Inc. (“BNK US”) has entered into a new US $75 million revolving line of credit (“new facility”) from BOK Financial (“BOKF”) with an initial commitment amount of US$20,000,000.

Danny Queenan has assumed the responsibilities of Chief Executive Officer, Real Estate Investments (REI). Mike Lafitte, who currently has dual roles as Chief Executive Officer of both REI and TCC, will now focus on his TCC CEO responsibilities to further build this business. Jack Durburg has assumed the responsibilities of Chief Executive Officer, Advisory Services. Chandra Dhandapani has assumed the responsibilities of Chief Executive Officer, Global Workplace Solutions (GWS). Chris Kirk, Chief Operating Officer of CBRE, has been given elevated responsibilities in this role.

Truist Financial Corporation (NYSE: TFC) today announced that Chief Financial Officer Daryl Bible has made the decision to retire from Truist after a distinguished 38-year career and more than 14 years with the company.

H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $49 billion of equity under management, is pleased to announce that one of its affiliates has completed the acquisition of Pixelle Specialty Solutions Holding LLC (“Pixelle” or the “Company”).

Marigny Investments, a Denver-based private equity firm, announced today its acquisition of Victory Supply. Victory Supply, based in Mt. Pleasant, Tennessee, is a value-added distributor of inmate clothing and detention supplies. Greyrock Capital Group provided equity and subordinated debt financing, UMB Bank provided senior debt financing and Bryan Cave Leighton Paisner served as legal counsel for Marigny Investments.

CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that it has launched a new awards program to recognize U.S.-based businesses that are “changing the game” through their commitment to environmental, social, and governance (ESG) strategies and practices.

Stonehill, a direct lender on commercial real estate, announced the expansion of its leadership team with four senior executive hires. Joining the organization are Daniel Siegel, Greg Koenig, Nisu Mehta and Taylor Pike. The addition of these leaders represents a strategic step in Stonehill's vision of expanding its commercial lending business across all real estate sectors.

Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, announces that it served as lead advisor on Saratoga Casino Holdings’ (“SCH” or the “Company”) financing and acquisition of Magnolia Bluffs Casino Hotel in Natchez, Mississippi (acquisition subject to regulatory approvals and other customary closing conditions).

Bloomfield Capital, a national direct lender and equity investor, has announced the closing of a $7.0 million senior bridge loan on a limited-service hotel located in southern Illinois. The flagged hotel was originally built by the Sponsors in the mid-2000s as a full-service property.

TD Securities, Wells Fargo Securities, and Citizens Bank, N.A. acted as joint bookrunners and joint lead arrangers for the facility. Aligned engaged ING Capital LLC as sustainability structuring agent and TD Securities as sustainability and administrative agent, and more than 20 banks supported the Company on the transaction.

In this role, Bahls will operate from Philadelphia, with responsibility for sourcing new business opportunities throughout the Northeast by providing asset-based and factoring working capital facilities to commercial businesses with annual revenues ranging from $2 million to $150 million.

SLR Healthcare ABL is pleased to announce it has provided a $3 million asset-based revolving line of credit to a skilled nursing operator in April 2022. SLR Healthcare ABL provides asset-based financing solutions to small and mid-size healthcare providers throughout the United States.

J D Factors announced it provided the following factoring facilities:$200,000 to a transportation company in Alabama; $100,000 to a transportation company in Alberta; $120,000 to a transportation company in Illinois; $100,000 to a transportation company in Ontario...

CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business provided $30 million for the acquisition of an apartment complex in Phoenix, Arizona. The Madison Grove Apartments is a 171-unit multifamily complex located in the North Phoenix area, located between Piestewa Peak Park and Scottsdale. The residences are within convenient walking distance to restaurants, shopping and parks and the complex features numerous on-site amenities.

Prestige got to work pulling together a group of four additional finance companies to ensure the staffing agency had what it needed. The syndication included: Rosenthal & Rosenthal, Lenders Funding, Sterling Commercial Credit, and Great Elm Capital. Together, they were able to secure the $100M.