TSL Express Daily Articles & News

Leslie A. Berkoff, a Partner and Chair of the Dispute Resolution practice group in the Garden City office of Moritt Hock & Hamroff, has been appointed by the American Bar Association to serve as Chair of the Dispute Resolution Committee of the Business Law Section.

KTC was contacted by a large US bank who was putting together a supply chain receivable finance facility for a Plastic Cup supplier in support of their growing sales to a Fortune 500 customer.

TeraWulf Inc. ("TeraWulf"), which was formed to own and operate fully integrated environmentally clean bitcoin mining facilities in the United States, today announced that it has raised approximately $200 million in debt and equity financing from a group of leading institutional and individual investors. TeraWulf noted that the additional capital raised is expected to enable it to achieve 6 exahash per second, or 200 megawatts, of mining capacity by the second half of 2022.

WeWork Inc. (NYSE: WE) (“WeWork”), one of the leading global flexible space providers, today provided a business update of key operational metrics for November 2021 and announced agreements to extend its secured credit commitments, which resulted in an extension of $1.75 billion of total liquidity from February 2023 to February 2024:

The Sustainability-Linked 5-Year, $525 million Revolving Credit Facility includes terms that reduce or increase the borrowing costs as targets on CO2 emissions avoidance levels and equal opportunities for women – including representation in management positions – are met or missed.

United Gaming LLC announced today that it has recently entered an amendment to upsize its current senior secured $250 million multi-draw facility to $650M in a syndicated transaction with a New York-based investment group acting as the lead agent. United Gaming was assisted in the negotiations and arrangement of the upsizing of the Credit Facility by its exclusive financial advisor, Imperial Capital, LLC, and was represented by the law firm of Paul Hastings LLP.

Credit Suisse Securities (USA) LLC and Natixis Corporate and Investment Bank acted as co-structuring agents and joint lead arrangers. The initial syndicate of lenders also includes Wells Fargo Bank, MUFG, and Credit Agricole.

White Oak Commercial Finance ("White Oak"), an affiliate of White Oak Global Advisors, is pleased to welcome Mark Allen Smith as Managing Director of Originations with responsibilities spanning the Midwest, Central United States and Canada. He will be based in Chicago reporting to Vice Chairman Andy McGhee.

Regions Bank on Thursday announced it has completed its acquisition of Sabal Capital Partners, LLC, a diversified financial services firm that leverages an innovative, technology-driven origination and servicing platform to facilitate off-balance-sheet lending in the small balance commercial real estate market.

H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is proud to announce that it has entered into an agreement with National Bank of Canada to increase its revolving credit facility to $55M. In addition, the term of this facility has been extended to December 1, 2024.

Amerisource Business Capital announced the closing and funding of a $500,000 senior credit facility for a Texas-based filtration unit manufacturer. The proceeds were used to fund working capital and significant projected growth.

Transom Capital Group (“Transom”), a leading operations-focused middle market private equity firm, today announced it has acquired Wolters Kluwer’s Legal & Regulatory U.S. Legal Education business, and the business has been renamed to Aspen Publishing (“Aspen” or the “Company”), a premium brand in legal education content and digital learning solutions providing students with a comprehensive suite of tools across the educational journey.

Streamline Innovations, Inc. (“Streamline”), the leader in environmentally-advanced treatment solutions for hydrogen sulfide (H2S), announced today that it closed on a Senior Secured Term Loan (the “Financing”) on November 23, 2021. The Financing is a Delayed Draw Term Loan and is structured as a Sustainability-Linked Loan to facilitate and support environmentally sustainable economic activity and growth.

Amerisource Business Capital announced the closing and funding of a $6,000,000 senior credit facility for a Texas based energy infrastructure firm. The proceeds were used to support the company’s expected growth.

City National Bank announced today that Russell Goldsmith, chairman of City National Bank and RBC Wealth Management U.S., will retire on January 31, 2022. Goldsmith served 43 years on the City National Board of Directors, 26 years as chairman of the bank and 23 years as its CEO.

ridge Bank today announced that its Boston-based Technology Banking Group has issued a venture debt term loan of $6 million to Mixlab, the modern pet pharmacy that partners with veterinarians to deliver the highest level of care at home.

Epiq, a global technology-enabled services leader to the legal services industry and corporations, released its November 2021 bankruptcy filing statistics from its AACER bankruptcy information services business. Overall, November new filings were down with 29,325 across all chapters, down 5.6% from October 2021 which had 31,053 new filings. Total commercial filings across all chapters were 1,563, down 10.3% over October 2021, which had 1,743 new filings.

CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business led the refinancing of a $69 million portfolio of solar facilities owned and operated by Strata Clean Energy LLC, a leading integrated solar and storage energy service provider based in North Carolina.

Talen Energy Corporation ("Talen") and its wholly-owned subsidiary Talen Energy Supply LLC ("TES") announced today that TES has obtained a financing commitment led by GoldenTree Asset Management LP and Silver Point Finance, LLC for a new first lien facility in the aggregate amount of $788 million maturing September 2024.

The Board of Directors of TriState Capital Holdings, Inc. (Nasdaq: TSC) announced its decision to name James F. Getz executive chairman and appoint Brian S. Fetterolf to serve as the company’s president and chief executive officer, effective January 1, 2022. Mr. Getz has served as chairman, president and CEO of TriState Capital since he founded the company in 2007.