TSL Express Daily Articles & News

CIT Group Inc. (NYSE: CIT) today announced that its Middle Market Banking business provided $6.3 million to refinance corporate office properties for Diamond Communications LLC.

Shaney B. Lokken, a public finance attorney with two decades of experience representing issuers, borrowers, underwriters and purchasers in a wide range of transactions, has joined Hunton Andrews Kurth LLP as a counsel in Atlanta.

Glass House Brands Inc., one of the fastest-growing, vertically-integrated cannabis companies in the U.S., today announced that it has entered into a senior secured term loan agreement with a U.S.-based private credit investment fund for up to US$100 million with an initial draw of US$50 million.

J.P. Morgan Global Alternatives today announced the appointment of Raphael Gonzalez as a Managing Director and Senior Investment Specialist across commercial mortgage loans, infrastructure debt and direct lending.

Umpqua Bank today released its 2022 economic outlook report for small and middle market companies, "Headwinds & Opportunities: Economic Trends & Predictions for Businesses in 2022." The bank tapped prominent West Coast economists and Umpqua Bank thought leaders to examine key issues that will shape the 2022 economic landscape, their impact on decision-making, and what businesses can do to meet both challenges and opportunities with confidence.

Magnolia Financial has announced the opening of a regional sales office in Atlanta, GA to expand its presence in the southeast. The Spartanburg-based company also announced that industry veteran Larry Artman has returned to Magnolia to head its new office. With over 30 years’ experience in Commercial Finance, Artman will serve as Senior Vice President and lead Magnolia’s Originations and Business Development efforts throughout Georgia, Alabama, and Tennessee.

eCapital Commercial Finance’s (“eCapital”) Asset Based Lending division today announced the issuance of a $15,000,000 asset based lending credit facility to a Dallas-based frozen foods manufacturer.

A relatively new consumer goods company focusing on personal mobility products was working with a factoring company. They received a large order from a big-box retailer with challenging terms. Due to recent supply chain delays, the customer refused to issue a firm purchase order until the goods arrived in the US. Their factoring company recommended working with Gateway Trade Funding to find a way to accept the order.

Fifth Third Business Capital announced it provided $9.8 million senior credit facility to Promise to Perform Industries, Inc. to support management buyout in October 2021.

Mitsubishi HC Capital America, a leading specialty finance company, is pleased to announce that John Nocita has joined the company as Underwriter for Syndicated Credit and ABL transactions.

Concord Financial Services announced it served as an exclusive financial advisor an arranged $8 million in senior debt within 45 days for Henry F. Teichmann, Inc., based in Canonsburg, PA. The financing arranged was an $8 million senior secured revolving line of credit to refinance existing debt and provide additional working capital.

MidCap Business Credit announced today they have closed on a $9,000,000 asset-based credit facility for a Titan Production Equipment, LLC, headquartered in The Woodlands, TX. Titan Production Equipment designs, engineers, and manufactures surface production equipment, focused on filtration and dehydration units, serving the oil and gas industry.

Ocean Bank announced that it provided financing of $26.7 million to HGreg Nissan Kendall, LLC, a subsidiary of HGreg USA Holdings, Inc.

Winston & Strawn is representing Aries I Acquisition Corporation (Nasdaq: RAM) (“Aries”), a special purpose acquisition company, in connection with its business combination with Infinite Assets, Inc. (“InfiniteWorld”), a leading Metaverse infrastructure platform that enables brands to create, monetize and drive consumer engagement with digital content, that upon consummation is expected to result in InfiniteWorld becoming a publicly traded company with a pro forma equity value of approximately $700 million, assuming no redemptions by Aries’s public shareholders.

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 TeachNow, Inc., one of the nation’s largest technology-centric teacher certification institutions, providing professionals the opportunity to transition into teaching.

Anaheim Urgent Care, LLC and affiliates (“UrgentMED” or the “Company”), a leading independent operator of urgent care clinics in Southern California, has received a substantial growth investment from Quilvest Capital Partners (“Quilvest”). Quilvest is partnering with UrgentMED’s co-founders, Dr. Jacob Rastegar, Dr. Morris Kokhab, and Dr. Pejman Bolourian, who will each remain significant shareholders and will continue to lead the business going forward. FocalPoint Partners (“FocalPoint”) served as exclusive financial advisor to the Company.

Blue Owl Capital (NYSE: OWL), a leading alternative asset manager, today announced it acquired Ascentium Group Limited to establish its physical presence in Hong Kong.

Lakeland Bancorp, Inc. (“Lakeland”) (NASDAQ: LBAI), the parent company of Lakeland Bank, and 1st Constitution Bancorp (“1st Constitution”) (NASDAQ: FCCY), the parent company of 1st Constitution Bank, announced that on December 10, 2021, the Federal Reserve Bank of New York issued a non-objection to Lakeland’s request to waive the application requirement in connection with the proposed merger of 1st Constitution with and into Lakeland. The companies have now received all regulatory approvals and non-objections in connection with the proposed merger.

iwetinohk Energy Corp. (“Kiwetinohk” or the Corporation”) is pleased to announce a 40 percent increase to its Senior Secured Extendible Revolving Facility (or “Credit Facility”). Kiwetinohk’s existing lenders, Bank of Montreal as agent and co-leads ATB Financial and National Bank of Canada, have completed their semi-annual borrowing base redetermination and have agreed to amend the Credit Facility and increase the borrowing limit from $225 million to $315 million.

KBRA, a full-service global rating agency committed to innovation and integrity, today announced it has entered a deal with leading growth-oriented private equity firm Parthenon Capital Partners who will acquire a majority stake in the company. KBRA is the largest global credit rating agency founded in the wake of the global financial crisis.