TSL Express Daily Articles & News

LBC Credit Partners (“LBC”), one of the leading providers of financing solutions to middle market companies, provided a senior secured credit facility to support O2 Investment Partners’ investment in BerlinRosen. LBC served as Agent for the senior secured credit facility.

Crestline Investors, Inc., ("Crestline") a credit focused institutional alternative asset manager, today announced that it has closed a series of funds across multiple strategies with commitments totaling more than $3.6 billion.

Triumph Bancorp, Inc. (Nasdaq: TBK) announced today the appointment of Erik T. Bahr as chief revenue officer of TBK Bank, SSB, member FDIC. In the newly created role, Bahr is responsible for driving go-to-market strategy, sales performance, client satisfaction, and overall operations of the sales channels and partnership for the bank’s transportation lines of business.

Eagle Global (“Eagle”), a women and minority-owned distributed gaming provider based in Georgia, today announced that it has entered into a $50 million financing agreement with the Private Credit business within Goldman Sachs Asset Management (“Goldman Sachs”) to finance the combination of two COAM businesses.

Amerisource Business Capital announced the closing and funding of a $1,500,000 senior credit facility for a North Carolina-based hosiery manufacturer. The proceeds were used to provide working capital to support the company’s projected growth.

Sonida Senior Living (NYSE: SNDA) has entered into a loan agreement to refinance existing mortgage debt, addressing all of the company’s debt maturities through 2024 and positioning it to grow. The transaction consists of an $80 million initial term loan and up to $50 million of additional capital, with an uncommitted $40 million accordion provision meant to fund the Dallas-based company’s growth in the future, according to a press release.

Harbor Custom Development, Inc. (Nasdaq: HCDI, HCDIP, HCDIW, HCDIZ) ("Harbor," "Harbor Custom Homes®," or the "Company"), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced the closing of a senior secured revolving credit facility (the “Revolving Facility”) with BankUnited, Inc. The facility will provide the Company with a $25 million capacity over a two-year term.

Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce that its portfolio company Colibri Group (“Colibri”), a professional education company with leading brands that provide learning solutions to licensed professionals, has acquired Becker Professional Education (“Becker”) and OnCourse Learning.

SSG Advisors, LLC (“SSG”) acted as the investment banker to NITROcrete, LLC and its affiliates (collectively “NITROcrete” or the “Company”) in the sale of substantially all of its assets to an affiliate of Cryogenic Industrial Solutions, LLC (“Cryogenic”). The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the District of Colorado.

The omicron variant and rising prices have taken a toll on both overall economic activity and consumer and business confidence over the past three months, according to the latest proprietary RSM US Middle Market Business Index.

Xeris Biopharma Holdings, Inc. (“Xeris” or “the Company”) (Nasdaq: XERS), a biopharmaceutical company developing and commercializing unique therapies for patient populations in endocrinology, neurology, and gastroenterology, today announced it has entered into a senior secured term loan agreement (“debt facility”) with funds managed by Hayfin Capital Management LLP (“Hayfin”) to provide Xeris with up to a total of $150 million of capital.

An accessories company had received a large order from a national retailer and needed letters of credit so their suppliers would ship the goods. They had just started working with a new factoring company that recommended partnering with Gateway Trade Funding for purchase order financing.

Schulte Roth & Zabel today announced that Ned S. Schodek has joined the firm as a partner in the Business Reorganization Group, based in the New York office. Ned focuses his practice on representing creditors (with a focus on fund clients), ad hoc creditor groups, debtors, acquirers of assets, and other parties-in-interest in large and complex prepackaged, pre-negotiated and traditional Chapter 11 bankruptcies, out-of-court workouts, debtor-in-possession financings, adversary proceedings, and broker-dealer liquidations.

Ensurem, a Florida-based insurance technology and distribution company, today announced that it has entered into a $100 million credit facility with DZ BANK. This facility refinances existing debt and allows Ensurem to meaningfully increase the marketing and distribution of Medicare Advantage and Medicare Supplement policies.

CIBC Innovation Banking is pleased to announce $12 million of growth financing for Dublin-based Phorest Salon Software (“Phorest”), a leading provider of online booking and management software for salon owners. Phorest will use the capital to expand its market growth and accelerate the launch of strategic products to deliver on its next-generation platform and machine learning initiatives.

Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of Norwood Sawmills (“Norwood”) by private equity sponsor, GreyLion.

Sabre Corporation ("Sabre") (Nasdaq: SABR) today announced a refinancing of a portion of its existing indebtedness. Sabre incurred no additional indebtedness as a result of the refinancing above the refinanced amount, other than amounts covering certain interest, fees and expenses. The refinancing has meaningfully improved Sabre's debt maturity profile.

People's Bank of Commerce is pleased to announce the recent hiring of William (Bill) Whalen as executive vice president and chief credit officer. Whalen joins People's Bank with almost 33 years of experience in the banking industry, of which 30 have been in Oregon. He most recently worked as senior vice president and chief credit officer for another Oregon based community bank.

Richard M. Adams, Chairman of the Board of United Bank (“United”), announced the Board’s approval of the promotion of Julie R. Gurtis to President effective April 1, 2022. Julie Gurtis currently serves as United’s EVP and Chief Commercial Banking Officer. In addition to managing Commercial Lending, she is responsible for overseeing Commercial Services, Business Banking, Loan Administration, Sales Management, and Marketing. Her 31-year career at United has included roles as Commercial Lender, Market President, and Regional President.

Ares Capital Corporation (“Ares Capital”) (NASDAQ:ARCC) announced today that Mary Beth Henson has joined its Board of Directors (the “Board”) as an independent director. The Board has been expanded from nine to 10 members, including six independent directors.