TSL Express Daily Articles & News

New Market Bank and Teslar Software today announced their partnership to streamline the bank’s commercial and consumer lending processes. The bank will leverage Teslar’s configurable lending process automation platform, starting with exceptions management.

Crossroads Financial, LLC announced it provided inventory revolving lines of credit for a manufacturer and distributor of art glass and tile and a manufacturer of upstream and midstream process and production equipment for the oil and gas space.

Fifth Third Bank, National Association, announced Art Weston will be rejoining the Bank in a newly created role to deploy artificial intelligence at scale delivering leading customer experiences in assisted self-service channels. As director of automated channel transformation, Weston will be responsible for developing and executing artificial intelligence capabilities into the Bank’s customer experience across all consumer channels.

Charlesbank Capital Partners, a middle-market private investment firm, is pleased to announce the appointment of Jerome McCluskey as Managing Director and General Counsel. Mr. McCluskey is an experienced transactional lawyer with an expansive and varied two-decade legal career in the public and private sectors. He joins Charlesbank from Milbank LLP.

Savara Inc. (Nasdaq: SVRA), a clinical stage biopharmaceutical company focused on rare respiratory diseases, today announced that it entered into a term loan agreement of $26.5 million with Silicon Valley Bank to replace its existing credit facility with the bank. The new facility represents a significant improvement in economic terms, including a lower interest rate compared to the existing loan rate and an initial 48-month interest only period.

KKR, an investment firm, has closed KKR North America Fund XIII, a $19 billion fund focused on private equity investments in North America. Debevoise & Plimpton LLP represented KKR as primary fund counsel for this fundraise.

Brian A. Turetsky—a regulatory and compliance attorney with two decades of experience counseling financial services companies—has joined Ballard Spahr’s Consumer Financial Services Group, firm Chair Mark Stewart announced today.

The Equipment Leasing and Finance Association announces that Jeff Quigley has joined the organization as Vice President of Finance & Administration, effective March 31. Quigley will oversee the association’s finances and treasury operations as well as the daily administrative and operational requirements of the organization.

Jonathan Ramos joined SLR Equipment Finance as vice president and risk analyst. In his new role, Ramos will utilize his prior experience in credit analysis and financial services to help grow SLR Equipment Finance’s leasing and lending services.

After separating from its parent company, and anxious to attain their projected potential, the company’s new owner approached IHC seeking a revolving line of credit backed by inventory. As one of the largest foundries and manufacturers in the United States, the company is well placed in both the automotive and green iron industries.

A healthcare supplies wholesale distribution company received a large contract for PPE from a state government. They lacked the working capital to fill the order. Their factoring company recommended working with Gateway Trade Funding to find a way to accept the order.

Jack Henry & Associates, Inc.® (NASDAQ: JKHY) announced today that Old Second National Bank has expanded its collaboration with Jack Henry to support the bank's digital and growth strategy. Among the largest locally headquartered banks in the Chicago area, Old Second benefited from a seven-year modernization journey, improving its technology infrastructure to support organic growth and acquisitions.

Fjord1 AS (“Fjord1” or the “Company”), the largest ferry and high-speed passenger boat operator in Norway, today announced that it has completed a NOK 6,5 billion debt refinancing. Pareto Securities AS and Wikborg Rein Advokatfirma AS served as financial advisor and legal advisor, respectively, to Fjord1 in connection with the refinancing.

White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it provided a $7 million senior secured credit facility to a NY-based converter and distributor of flexible film packaging products for the medical, cosmetic, and food industries.

Allegion intends to finance the transaction through a combination of cash, borrowings under its existing revolving credit facility and new debt financing. Following the transaction, the net debt to adjusted EBITDA is expected to naturally de-lever over time, given strong liquidity and ongoing cash generation. Allegion has obtained fully committed financing from Goldman Sachs & Co. LLC.

Stansport, LLC, headquartered in Los Angeles, California, is a supplier of branded and private label camping, hiking, outdoor, survival, emergency prep gear and child play tents primarily to leading retailers.

DLA Piper continues to make substantial investments in its globally recognized Private Equity practice with the addition of lateral partners Harris Eisenberg, Alex Plakas, Nathan Wilda and Drew Rosenberry, along with several other partners and approximately 20 other lawyers in Chicago. The addition of this group will significantly enhance DLA Piper’s positioning in middle-market private equity.

Leading global professional services firm Alvarez & Marsal (A&M) has appointed Randy Fike, as a Managing Director with its Private Equity Performance Improvement (PEPI) practice. Mr. Fike’s joining reinforces A&M’s ability to help private equity (PE) clients protect their investment thesis, on revenue growth and margins, amidst significant post-COVID supply chain disruptions.

Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today it closed a venture loan facility to Native Microbials, Inc. ("Native Microbials").

Sinclair Broadcast Group, Inc. (“Sinclair” or the “Company”) (Nasdaq: SBGI) announced today that its wholly-owned subsidiary, Sinclair Television Group, Inc. (“STG”), has entered into the Fourth Amendment (“Fourth Amendment”) to its Seventh Amended and Restated Credit Agreement, dated as of August 23, 2019, as amended with JPMorgan Chase Bank, N.A., as administrative agent.