TSL Express Daily Articles & News

ABC Technologies Holdings Inc., a leading manufacturer and supplier of custom, highly engineered technical plastics and lightweighting innovations to the global automotive industry, today announced that its wholly-owned indirect subsidiaries, ABC Technologies Inc. and ABC Group Holdings Inc., as borrowers, have entered into a fifth amended and restated credit agreement, with a syndicate of lenders, including The Bank of Nova Scotia, as administrative agent, amending and restating the fourth amended and restated credit agreement dated February 22, 2021, as amended.

Apollo (NYSE: APO) today announced the launch of a comprehensive sustainable investing platform focused on financing and investing in the energy transition and decarbonization of industry. Across asset classes, Apollo targets deploying $50 billion in clean energy and climate capital over the next five years and sees the opportunity to deploy more than $100 billion by 2030. With approximately $4.5 trillion1 annually in investments needed to achieve global net zero by 2050, Apollo aims to be a leading capital partner to companies and communities globally.

Tradecycle Capital, an Indianapolis based trade finance provider, announced it funded two new revolving accounts payable funding facilities and upsized two existing clients in February. The first, is a $3,500,000 limit to a private equity owned distributor of RV and marine parts and accessories who needed additional support for Sales growth. The second, a $500,000 limit is for a precision PET plastic injection molder seizing the opportunity to reshore production for a major customer.

Austin Financial Services, Inc. (AFS) is pleased to announce the closing of an $8.5MM revolving A/R and inventory facility to a Mid-West based dairy and dairy by-products supplier working with large well-known brands who have nationwide presence. Proceeds from AFS’ revolver were used to pay off the Company’s existing bank line and provide additional funds for working capital support and growth.

Huron Capital Partners (“Huron Capital”) has announced the successful closing of both a refinancing and an acquisition capital facility for its portfolio company, Pueblo Mechanical & Controls, LLC (“Pueblo” or the “Company”) with financing provided by BlackRock Capital Investment Corp. (“BlackRock”) and Deerpath Capital Management, LP (“Deerpath”). FocalPoint Partners (“FocalPoint”) served as exclusive financial advisor to Pueblo on the transaction.

Ardelyx, Inc. (Nasdaq:ARDX), a biopharmaceutical company founded with a mission to discover, develop and commercialize innovative first-in-class medicines that meet significant unmet medical needs, today announced that it has entered into a debt financing agreement with investment affiliates managed by SLR Capital Partners ("SLR").

Global law firm White & Case LLP has advised a banking syndicate led by Deutsche Bank AG, J.P. Morgan AG, Royal Bank of Canada and Société Générale, acting as mandated lead arrangers and bookrunners, on the €830 million debt financing for the acquisition by SK Capital of a majority shareholding in Seqens, a French based leader in pharmaceuticals and specialty chemicals.

Electrovaya Inc. ("Electrovaya" or the "Company") (TSX:EFL)(OTCQB:EFLVF), a lithium ion battery manufacturer with differentiated intellectual property that allows heightened safety and improved longevity enabling industry-leading performance, today announced that its credit facility has been increased from C$7 million to C$11 million to support its sales growth.

-Intelsat S.A. announced today that it has successfully completed and emerged from its financial restructuring process as a private company with a substantially strengthened capital structure to support its growth as the leader in satellite communications. This final milestone follows receipt of regulatory approvals, completion of certain corporate actions, and satisfaction of other customary conditions.

Wells Fargo Securities, LLC, Citigroup Global Markets Inc., RBC Capital Markets and PNC Capital Markets, LLC acted as Joint Lead Arrangers for the amendment to DHC’s revolving credit facility agreement. Wells Fargo Bank, National Association is the Administrative Agent for the facility.

GemCap provided a $4.0 million facility consisting of a working capital revolver and an equipment term loan for a nut processing company. "We're happy to support the food industry and agriculture," says David Ellis, Co-President. "GemCap continues to focus on assisting small businesses grow and rebound!"

CIFC Asset Management LLC (“CIFC”), an alternative credit specialist serving institutional investors globally with more than $38 billion in assets under management, today announced the second annual donation made on behalf of the CLO Initiative for Change, the firm’s philanthropic program in connection with collateralized loan obligations (“CLOs”) issued by CIFC.

Oxford Finance LLC (“Oxford”), a leading specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, is pleased to announce that Rohit Gandhi, a seasoned investment professional, has joined Oxford as a senior director.

Banc of California, Inc. (NYSE: BANC) today announced that its wholly-owned subsidiary, Banc of California, N.A., California’s leading relationship-focused business bank, has hired Matthew Grimes in the new position of SVP, ABL Leader. In this position, Grimes will be responsible for leading the bank’s Asset Based Lending efforts. Grimes will report to Hamid Hussain, President, Real Estate and Commercial Banking.

CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business provided $51 million in financing for the acquisition of the Oceana Apartments in Avondale, Arizona. Oceana Apartments, which was acquired by 29th Street Capital, consists of 240 one-bedroom, two-bedroom and three-bedroom units. Based in Chicago, 29th Street Capital is a leading investor, manager and developer of multifamily properties nationwide.

Amerisource Business Capital announced the closing and funding of a $3,000,000 real estate term loan facility for a Texas-based custom pool and tiny home manufacturer. The proceeds were used to provide working capital to support the Canadian company’s expansion of its manufacturing capacity in the U.S.

Vertex Energy, Inc. (NASDAQ:VTNR, "Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products, today announced that, in conjunction with its previously disclosed planned acquisition (through one or more of its affiliates) of the Mobile refinery ("Mobile Refinery") and related logistics assets from Equilon Enterprises LLC d/b/a Shell Oil Products US, the Company's wholly-owned subsidiary, Vertex Refining Alabama LLC, a Delaware limited liability company has entered into a commitment letter (the "Commitment Letter") with a syndicate of lenders in respect of a three-year, $125 million first-lien senior secured term loan facility (the "Term Loan").

CIT, a division of First Citizens Bank, today announced that its Healthcare Finance division provided more than $44 million toward the financing of medical office buildings and facilities in Florida, Washington, and Arizona. The loans supported a joint venture managed by Montecito Medical Real Estate in acquiring medical office buildings in Jacksonville and Fleming Island, Florida; Scottsdale, Arizona; and Spokane, Washington.

Gordon Brothers, the global advisory, restructuring and investment firm, has provided Dominion Packaging Inc. a $10.6 million term loan to increase the company’s liquidity and support its continued growth. Dominion Packaging, a manufacturer of branded folding cartons and boxes within the beverage, food and confectionary industries, will use the funds to refinance existing debt and invest in additional assets needed to meet increased demand.

Headquartered in Columbus, Ohio, Covail was founded in 2015 with investments from seven of the largest companies in Central Ohio to provide collaborative solutions to common artificial intelligence (AI) and cybersecurity challenges facing their respective businesses, as well as other customers.