TSL Express Daily Articles & News

Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded three new revolving accounts payable funding facilities in November. The first, is a $2,000,000 limit to a private equity owned specialty merchandising company who needed additional support for sourcing product offshore. The second, a $500,000 limit is for a precision welder and fabricator of exotic metals, which was referred to Tradecycle by their senior lender.

Eclipse Business Capital LLC (“EBC”), formerly known as Encina Business Credit, announced today that it has provided a $45 million senior secured revolving credit facility to a coal mining company based in the U.S. and Canada.

BRP Group, Inc. today announced that its subsidiary Baldwin Risk Partners, LLC is seeking to enter into an incremental term loan facility amendment to its existing credit agreement pursuant to which BRP LLC is expected to borrow $250 million of new term B loans under the Credit Agreement, which would increase the aggregate principal amount of its existing senior secured first lien term loan facility maturing in 2027 from $500 million to $750 million.

Finitive, the leading data-driven private credit marketplace connecting borrowers with institutional investors, today announced it has hired fintech veterans Steve Yampolsky as Head of Engineering and Chris Benjamin as Principal Software Architect to drive growth and further the company's mission to make private credit transactions fast, accessible, and easy.

Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised American Track, a portfolio company of Hilltop Private Capital (Hilltop) and PNC Mezzanine Capital (PNC MC), on its recapitalization with DFW Capital Partners (DFW). American Track is a leading provider of inspection, maintenance, repair and specialized construction services for industrial railroad infrastructure in the United States.

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.

The Amended RCF continues to be led by The Bank of Nova Scotia acting as lead arranger, sole bookrunner and administrative agent and is comprised of five banks - all of which were participants in the previous facility. Trican will pay customary fees and expenses at prevailing market rates to the lending syndicate as a condition of this amendment.

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.