TSL Express Daily Articles & News

Newly-formed Meriwether Group Capital (MWGC) launched this month to make commercial loans available to businesses that fall outside the criteria required by traditional lenders. The MWGC Hero Fund focuses on small to mid-sized companies that meet the fund’s revenue qualifications and financial needs.

On April 13, 2022, ProPetro Holding Corp. (“ProPetro” or the “Company”) (NYSE: PUMP) announced the extension of its existing asset-based loan facility (the “Amended ABL”) to a five-year term and a reduction of commitments from $300 million to $150 million. The Amended ABL will extend the maturity from 2023 to 2027 and, through updated advance formulas and other provisions, provide enhanced availability with improved pricing.

Middle market private companies in the Golub Capital Altman Index experienced year-over-year earnings growth of 9% and revenue growth of 18% during the first two months of the first quarter of 2022. This report marks a return to the typical year-over-year comparisons now that the impact of widespread Covid-related lockdowns throughout much of 2020 are not affecting the data.

Haversine Funding, a leading provider of alternative financing solutions for the specialty lending space, today announced the hiring of Shawndrea Igboh in the role of underwriter. Haversine continues its rapid expansion, and this newest addition further shows the company’s commitment to our clients, investors, and the specialty financing marketplace by developing, deploying, and managing customized financing solutions for lenders.

Pathlight Capital LP ("Pathlight") announced it is serving as the Administrative Agent on the recently funded $355,000,000 Senior Secured Credit Facility for iFIT Health & Fitness Inc. ("iFIT" or the "Company"), a global leader in connected fitness and interactive content with its extensive portfolio of iFIT® and Sweat® streaming platforms, and its highly innovative equipment brands NordicTrack® and Proform®.

Gordon Brothers, the global advisory, restructuring and investment firm and owner of the British heritage brand Laura Ashley®, has partnered with IMG to expand the iconic fashion, home and lifestyle brand in a fresh, modern way in Europe, Australia, New Zealand, China, India and the Middle East.

LSQ, a leading provider of working capital financing and payments solutions, recently originated a $1.5 million credit facility for a Pennsylvania- based manufacturer of briquettes for the steel industry.

PlainsCapital Bank recently announced that Danny Schroder has been promoted to Houston region chairman. In his new role, Schroder will oversee and coordinate banking operations and market development for PlainsCapital’s branches in the greater Houston area.

The banks participating in the Credit Facility include: Wells Fargo Securities, LLC, DNB Markets, Inc. and JPMorgan Chase Bank, N.A., each as Joint Lead Arranger and Joint Bookrunner; Wells Fargo Bank, N. A. as Administrative Agent and, in conjunction with DNB Markets, Inc., as Joint Sustainability Coordinator; and Credit Suisse AG, New York Branch, and Woodforest National Bank, each as Lenders.

The founder of Brother Jimmy’s BBQ chain has filed for bankruptcy protection, citing numerous financial setbacks over the past five years. James Goldman, of Pleasant Valley, Dutchess County, declared $969,500 in assets and nearly $3.6 million in liabilities, in an affidavit filed April 7 in U.S. Bankruptcy Court, Poughkeepsie.

PRG has once again enlisted Tiger Group to auction select live event and professional AV gear from its existing rental inventories. The sale features digital cameras, lenses and projectors by manufacturers such as Arri, Barco, Canon, Christie, Fuji, Panasonic, Red, Sony and Zeiss.

Maxim Commercial Capital (“Maxim”) reported strong results for the first quarter of 2022. The company kicked off the year with record low delinquencies, increased fundings to better credits, and strong demand for cash-out financings secured by real estate and equipment.

CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business provided a $37.2 million loan to Aminim Group to finance the acquisition of a bulk distribution facility in Pittsburgh, Pennsylvania.

Thomas J. Shara, President and CEO of Lakeland Bank, is pleased to announce the following officer promotions. Alethea Batts to First Senior Vice President – Learning and Development and Chief Diversity Officer. Batts joined Lakeland in 2017 as Vice President, Learning and Development and was named Chief Diversity Officer in 2020.

Yieldstreet, a leading digital alternative investment platform driven to help millions of people unlock access to previously unattainable investments, is launching a platform that allows investors the unique opportunity to invest in individual companies.

Lourenco Miranda has joined EisnerAmper as managing director of environmental, social, governance and sustainability solutions, according to the firm Tuesday. Miranda has more than 20 years of financial and private equity fund industry experience.

South Atlantic Bancshares, Inc. (the "Company")(OTCQX: SABK), parent of South Atlantic Bank (the "Bank"), is pleased to announce Matthew H. Hobert, CPA has been hired as executive vice president, chief financial officer for the Company.

TD Bank, America’s Most Convenient Bank®, announced today that it has promoted four employees into key positions to support and grow the bank's goal of strengthening its position as an industry leader in supporting diverse communities and businesses of all sizes in the Delaware Valley.

The Company has also secured $2.5 million in debtor-in-possession financing that, along with normal operating cash flows, should support operations during the process. Therefore, ION expects to continue delivering excellent service quality with little to no expected disruption to clients.

Fifth Third Bancorp said President Tim Spence will become chief executive officer on July 5, when Greg Carmichael steps down to become executive chairman. Spence, 43, joined Fifth Third in 2015 as chief strategy officer, the Cincinnati-based company said in a statement Tuesday. Before becoming president in 2020, he was head of the consumer bank, payments and strategy. In that role, he was responsible for retail banking, mortgage, auto and specialty lending, as well as digital, marketing and fintech partnerships.