TSL Express Daily Articles & News

On December 31, 2021 the New York State Department of Financial Services (“DFS”) announced that as final regulations have yet to be adopted by the DFS providing regulatory guidance regarding the standardized disclosures about the terms of credit to be provided under the State’s Commercial Finance Disclosure Law (“CDFL”) all obligations under the CDFL (which became effective on January 1, 2022) will not go into effect until the DFS has issued final regulations and these regulations take effect.

Harte Hanks, Inc. (HHS) (the "Company"), a leading global customer experience company, today announced that the company has obtained a new $25 million secured revolving line of credit with Texas Capital Bank. This new loan agreement will enhance the Company's strategic position and increase its financial flexibility.

The Financial Accounting Standards Board (FASB) today issued a proposed Accounting Standards Update (ASU) intended to help investors and other allocators of capital better consider the effect of supplier finance programs on a buyer’s working capital, liquidity, and cash flows. Stakeholders are encouraged to review and provide comment on the proposed ASU by March 21, 2022.

TI Consulting, Inc. (NYSE: FCN) today announced the appointment of Katy Quintanilla as a Managing Director in the Merger Integration and Carve-outs practice within the firm’s Corporate Finance & Restructuring segment.

Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Air Conditioning Innovative Solutions (“ACIS”), a provider of commercial HVAC and other building services, on its sale to Atlantic Street Capital. ACIS provides maintenance, repair and retrofit services for HVAC, plumbing and building controls systems to commercial properties across Texas. ACIS was a portfolio company of Caltius Equity Partners, a Los Angeles-based private equity firm. Caltius will retain an equity stake in ACIS.

Apollo Endosurgery, Inc. ("Apollo") (NASDAQ:APEN), a global leader in less invasive medical devices for gastrointestinal and bariatric procedures, today announced that it has entered into a debt financing agreement with an affiliate of Innovatus Capital Partners, LLC ("Innovatus") to provide Apollo with up to $100 million in term loan financing.

Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) (“Pulse” or the “Company”) is pleased to announce it has renewed its revolving credit facility and extended the maturity date for two years to January 15, 2025. The facility’s available borrowing amount remains at $25.0 million and all other major terms, including financial covenants, are unaffected by the renewal. As of today, the balance drawn on the revolving credit facility is $1.4 million, leaving $23.6 million available.

Nordstrom Inc. is consulting with AlixPartners to review options for its off-price Nordstrom Rack business, according to people with knowledge of the situation. The advisers are looking at potentially spinning off Nordstrom Rack into a separate company and whether that would entail two management teams and individual public reporting, said the people, who asked not to be identified because the matter is private.

The Company has arranged a US$10 million secured loan facility with Auramet which is expected to close on or before January 5, 2022. The loan is due April 5, 2022, and will carry an interest rate of 1% per month and has an arrangement fee of 2% of the loan amount and the issuing of 250,000 2-year warrants at a strike price of $3.94 per share on the closing date.

Goldman Sachs BDC, Inc. (NYSE: GSBD) today announced that Alex Chi and David Miller, co-heads of Goldman Sachs Asset Management Private Credit in the Americas, will become co-CEOs and co-Presidents of Goldman Sachs BDC, Inc., effective March 2022. After a 15-year career at Goldman Sachs, Brendan McGovern will retire from the firm in March.

Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, announces that it has advised Berger & Burrow Enterprises, Inc. d/b/a Dynamic Mobile Imaging (“Dynamic” or “DMI”), on its successful sale to True North Health Navigation LLC d/b/a DispatchHealth, the nation’s first comprehensive in-home medical care provider.

TDCX Inc. (“TDCX” or the “Company”) (NYSE: TDCX), a high-growth digital customer experience solutions provider for innovative technology and other blue-chip companies, today announced that it has fully repaid the total outstanding principal amount of US$188 million and accrued and unpaid interest and premium, if any, under its term loan credit facility entered into with Credit Suisse AG, Singapore Branch, and completed relevant documentation.

Performant Financial Corporation (Nasdaq: PFMT), (the "Company"), a leading provider of technology-enabled audit, recovery, and related analytics services in the United States with a focus in the healthcare payment integrity services industry, today announced that it has entered into a new credit agreement with MUFG Union Bank that provides the Company with up to $35 million in debt financing through a combination term loan and revolving credit facility.

Hilton Grand Vacations Inc. (NYSE:HGV), today announces it has refinanced and increased the capacity under the existing revolving facility from $800 million to $1 billion. Bank of America, N.A., will remain as the administrative agent for the new revolving credit facility. Barclays Bank PLC, Deutsche Bank Securities Inc.; JP Morgan Chase Bank, N.A.; MUFG Bank, Ltd. and Wells Fargo Bank, N.A., acted as co-syndication agents for the new revolving credit facility.

Walsh Pizzi O'Reilly Falanga LLP, a leading majority women-owned law firm in the Mid-Atlantic region, announced Mariel L. Belanger, Caitlin P. Cascino, and David D. Cramer will become partners in the firm effective January 1, 2022.

Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Best Lawyers®, the oldest and most respected peer-review ranking service in the global legal community, on its acquisition by Abry Partners, a Boston-based investment firm. Best Lawyers was previously a portfolio company of Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based middle-market private equity firm.

A-Mark Precious Metals, Inc. (NASDAQ: AMRK) (A-Mark), a leading fully integrated precious metals platform, has closed a new three-year, committed $350 million credit facility led by CIBC Bank USA, replacing its existing $280 million credit facility. The new credit facility became effective on December 21, 2021 and matures on December 20, 2024. CIBC Bank USA acted as Administrative Agent, and Joint Lead Arranger.

B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley Financial" or the "Company"), a diversified provider of business advisory and financial services, announced it has established a new receivables business to provide debt monetization solutions and portfolio acquisition services for its clients.

lack Diamond Group Limited (“Black Diamond” or the "Company”) (TSX: BDI), a leading provider of space rental and workforce accommodation, today announced the renewal of its secured asset-based revolving credit facility (“Facility”). The renewal extends the maturity of the Facility out to October 31, 2026. The lending syndicate is unchanged and is co-led by The Bank of Nova Scotia and Bank of Montreal. There were no changes to the pricing grid and the size of the Facility remains unchanged at $300 million, with an uncommitted accordion of $50 million.

Julia Gavrilov, counsel in the Garden City office of Moritt Hock & Hamroff LLP, has been named as one of the Top Women in Equipment Finance for 2021 by the Monitor in recognition of her outstanding commitment, achievements and leadership in the equipment finance industry.