TSL Express Daily Articles & News

An importer of dried noodle bowls received a new large order from a grocery chain but lacked the working capital to accept it. They were working with a referral source who recommended partnering with Gateway Trade Funding to find a way to accept the order.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank (“the Bank”), in coordination with the American Bankers Association (ABA), has expanded its Commercial Lending Certificate Program to Huston-Tillotson University in Austin, Texas. Texas Capital Bank and ABA began the Commercial Lending Certificate Program for Historically Black Colleges and Universities (HBCUs) in 2021 with Prairie View A&M University located in Prairie View, Texas.

FTI Consulting, Inc. (NYSE: FCN) today released the findings of its 2022 U.S. Loan Market Survey, which provides insight into the impact of COVID-19, inflation and other economic trends on the U.S. loan industry, along with expectations for leveraged credit market conditions this year.

Amryt (Nasdaq: AMYT), a global, commercial-stage biopharmaceutical company dedicated to acquiring, developing and commercializing novel treatments for rare diseases, announces that it has secured $125 million of senior credit facilities from funds managed by the Credit Group of Ares Management Corporation (“Ares”).

CIBC Innovation Banking is pleased to announce it has provided financing solutions, including a capital call line of credit, to Graphite Ventures (Graphite), a $100-million fund focused on seed-stage investments and extensions, through to the rights for Series A rounds. The capital call facility provides Graphite with the flexibility to make investments in portfolio companies prior to calling capital from the fund’s limited partners.

Amerisource Business Capital announced the recent appointment of Randy Goeken as Regional Market Manager. Randy has over 35 years of experience in commercial finance, primarily in business development and relationship management, with lower middle market companies. Based in California, he is responsible for the development of the Western Division.

EQ Riskfactor, a leading global provider of risk management software for the commercial finance market (part of Equiniti Group), today launches its new international report, Navigating 2022 And Beyond. The new report interviewed senior professionals from the receivables finance industry across the UK, US, Germany, France and the Netherlands on what lies ahead for receivables finance lenders in 2022. The view across international borders did not waiver – receivables finance lenders are feeling positive and optimistic about the year ahead.

Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, today announced the refinancing of its outstanding $90 million Revolving Credit Facility and $300 million 6.5% Senior Secured Notes, with a new 5-year $200 million Revolving Credit Facility and 5-year $200 million Term Loan A (collectively, the “New Credit Facility”). The Company has drawn approximately $200 million under the Term Loan A and $100 million on the new Revolving Credit Facility, with $100 million remaining in borrowing capacity.

TAB Bank is pleased to announce it has provided a demolition company in Alaska with a $2 million asset-based credit facility. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.

Sinch AB (publ), a global leader in cloud communications and mobile customer engagement, today announces that is has entered into a 3+1+1 year credit facility in the amount of approximately SEK 7 500 million with a syndicate of 9 banks.

On the heels of significant growth and expansion in 2021, Cogent Bank has achieved another milestone – reaching $1 billion in assets. Cogent continues to experience strong loan and deposit growth. The Bank’s total loans grew by 51% since 2020 and notably, specialty lending doubled in 2021.

J D Factors announced it has provided the following factoring facilities: $150,000 to a transportation company in North Carolina; $100,000 to a transportation company in Ontario; $100,000 to a transportation company in Tennessee; $100,000 to a transportation company in Georgia...

Sallyport’s client, who provides staffing services to the energy industry, has just been equipped with a $500,000 accounts receivable facility to finance expansion and support their opening of a new division. This facility will enable them to manage working capital as they open a new office and focus on building the business there with the knowledge that payroll is covered.

HVB Bancorp, Inc., the parent company of Huntingdon Valley Bank, announced the opening of a new Commercial Banking Office to be led by newly appointed Market President, Allan Burkley, former SVP and Team Leader, C&I Lending at Meridian Bank. Joining Burkley are his three former colleagues from Meridian, SVP, William McDougall, VP, Rosen Nenchev, and Relationship Manager, Ryan Mundy.

Seadrill Limited ("Seadrill" or the "Company") announces today that it anticipates emerging from the Chapter 11 process in February 2022, likely prior to the end of the present week. As previously announced, Seadrill's Chapter 11 plan of reorganization (the "Plan") was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on October 26, 2021.

Cerebro Capital, a commercial loan marketplace, today released its Q4 2021 survey on non-bank lending for middle-market commercial and industrial (C&I) loans. Cerebro reports commercial lenders continued to ease lending standards in 4Q21, making it easier for businesses to get loans, which has driven up loan demand in the middle-market. Looking forward, 52% of non-bank lenders expect increased loan demand to continue due to a predicted deterioration of the economy over the next six to twelve months.

Truist Securities today announced the recent appointments of three new investment banking group heads, expanding and strengthening the firm's client coverage and commitment to offering a high-touch advisory approach. Stellar Kim Tucker has joined Truist Securities as group head of Technology Investment Banking overseeing teams that serve the cloud technology, fintech, software and internet, martech and IT services industries. She will also serve as head of Truist Securities' Miami office.

Neuronetics, Inc. (NASDAQ: STIM), a commercial stage medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, today announced it has amended its term loan agreement with its current lenders, investment affiliates managed by SLR Investment Corp. (SLR), which was originally entered into on March 2, 2020 and subsequently amended on April 20, 2020 and December 2, 2020.

Leading lower-middle-market private equity firm Huron Capital Partners ("Huron Capital") announced today that its third-party transportation and logistics services platform, Direct Connect Logistix ("DCL"), has acquired Performance Logistics, LLC ("Performance Logistics"). The combination of Performance Logistics' refrigerated and frozen food transportation services and large customers in the Mountain West strengthens DCL's capabilities, customer base and geographic reach.

FirstService Corporation (TSX: FSV; NASDAQ: FSV) ("FirstService") announced today that it has expanded and extended its revolving credit facility (the “Facility”), on an unsecured basis, for a new five-year term maturing in February 2027. Under the amended Facility, borrowing capacity has been increased to US$1.0 billion and, at any time during the term, FirstService also has the right to increase the Facility by up to US$250 million on the same terms and conditions as the original Facility.