TSL Express Daily Articles & News

Paul Hastings LLP, a premier global law firm advising leading financial institutions, asset managers and corporations, significantly strengthened its position among elite Wall Street firms with today’s announcement that a high-profile team of 18 financial restructuring partners has joined its New York and Los Angeles offices.

Castlelake, L.P. ("Castlelake"), a global alternative investment manager with 17 years of experience investing in asset-rich opportunities, today announced it has named Joe McConnell and Isaiah Toback as Deputy Co-Chief Investment Officers and Brad Farrell as Chief Operating Officer.

Statkraft has signed a EUR 1.3 billion 5-year sustainability-linked syndicated revolving credit facility with two 1-year extension options. The facility replaces Statkraft’s existing syndicated revolving credit facility of NOK 9.2 billion which was signed in June 2016. Statkraft has a clear commitment to sustainability, and through its activities aims to create value for society, the environment and the company.

HB 2706, the Missouri financial disclosure bill, was voted out of Committee this week. To our satisfaction, the House version of this bill now exempts factoring, but the Senate bill does not.

Trimble (NASDAQ: TRMB) announced today that it has entered into a new five-year, $1.25 billion revolving credit facility. This facility links two of Trimble's sustainability commitments—reducing greenhouse gas emissions and increasing gender diversity with more female representation in the workplace—to its financial liquidity framework and integrates sustainability performance into its business strategy. The new facility replaces Trimble's previous $1.25 billion revolving credit facility established in 2018.

Eastern Bank is pleased to announce Boston Battery LLC as a new asset based lending customer. Boston Battery is an independent, locally owned wholesale distributor of Interstate Batteries, North America’s market leading automotive battery brand for over 60 years. Boston Battery serves the southern New England market via its four retail locations and over 1,000 authorized dealers.

Celtic Capital was called in to provide replacement financing and additional working capital for the Company’s anticipated growth in 2022. Celtic provided a $1,250,000 accounts receivable line of credit and a $250,000 inventory line of credit to meet the Company’s objectives.

J D Factors announced it has provided the following factoring facilities: $500,000 to a transportation company in Georgia; $250,000 to a transportation company in California; $200,000 to a transportation company in Pennsylvania and $75,000 to a transportation company in Ontario.

CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business provided $35.6 million for the acquisition of two multifamily residential properties in the North Shore area of Massachusetts. The Heights at Haverhill, located in Haverhill, Massachusetts, and the Thorndike Exchange in nearby Lowell, Massachusetts, comprise 107 residential rental units with accompanying office and retail space on the ground floor.

H.I.G. Capital, LLC ("H.I.G."), a leading global alternative investment firm with $48 billion of capital under management, is pleased to announce the expansion of its dedicated Infrastructure team with the addition of Antonio Botija as a Managing Director in H.I.G.’s London office and George Watts as Managing Director in H.I.G.’s New York office.

Experienced financial services and capital markets attorneys Laura E. Hoag and Joseph J. Ricotta have joined the firm’s Washington office as partner and of counsel, respectively. Laura focuses her practice on domestic and international financings, debt restructurings, and commercial business transactions; Joe focuses his practice on transactional law and debt finance.

D Capital LLC ("D Capital") today announced that Greg Jacobs has joined the firm as Senior Managing Director and Head of Risk. In this role he will expand the firm's footprint in credit and related strategies, leveraging over three decades of experience and expertise.

Ball and Shearer advise private credit providers, including senior lenders, business development companies, mezzanine funds, small business investment company funds, insurance companies and sovereign wealth funds, on a wide range of financing structures across a variety of industries.

iRhythm Technologies, Inc. (NASDAQ: IRTC), a leading digital healthcare solutions company focused on the advancement of cardiac care, announced it has amended its existing debt facility with Silicon Valley Bank (the “Amended Credit Facility”). The agreement improves upon the pricing and terms of iRhythm’s existing credit facility (“Existing Credit Facility”).

Uponor has signed a new EUR 50 million five-year revolving credit facility ("RCF") with two one-year extension options and introduced a sustainability pricing mechanism linking the margin of the RCF to Uponor's science-based targets for climate action:

As part of the expanded Revolving Facility, Morgan Stanley Senior Funding, Inc., Raymond James Bank, and SouthState Bank, N.A. joined the syndication. The bank group is led by J.P. Morgan Securities LLC as administrative agent, joint lead arranger, and joint bookrunner.

SLR Equipment Finance announced the appointment of Tom Casey as Chief Executive Officer. Casey joins SLR with over 30 years in the finance industry and 25 years of vendor finance focused experience. Casey was most recently with De Lage Landen Financial Services.

A California-based private-label organic baby food manufacturing and co-packer needed a working capital line to increase volume in order to add additional product lines to their offering. They previously secured a credit facility based on real estate and machinery from their bank but a prospective AR lender that they were hoping to receive funding from backed out at the 11th hour.

Stonebriar Commercial Finance (“Stonebriar”) today announced that Justin McVeigh and Jennifer Franklin have joined the company as Senior Associate and Executive Assistant, respectively, both based in Plano, Texas. Justin will support the originations and credit functions with contributions to sourcing and assessment of new opportunities.

MidOcean Partners (“MidOcean”), a premier New York-based alternative asset manager specializing in alternative credit investments and middle-market private equity, announced today that Joseph Rotondo, Senior Portfolio Manager for Invesco’s Global Senior Loan group, will be joining the firm as Senior Portfolio Manager for MidOcean Credit’s Collateralized Loan Obligation (“CLO”) business.