TSL Express Daily Articles & News

OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) ("Obsidian Energy", the "Company", "we", "us" or "our") announced that its semi-annual borrowing base redetermination has been completed, resulting in a $35 million increase to our revolving syndicated credit facility from $225 million to $260 million.

Golub Capital acted as Administrative Agent and Joint Lead Arranger on a $1 billion GOLD facility to finance the merger of 2020 Technologies (“2020”) and Compusoft by Genstar Capital and TA Associates. GOLD financings are Golub Capital One-Loan Debt facilities. The GOLD facility was funded using a combination of U.S. dollars, Canadian dollars, British pounds sterling and eurodollars.

CIBC Innovation Banking is pleased to announce a debt facility of $35 million for Atlanta-based Intradiem, a leading provider of automation technology solutions for customer service teams. Intradiem will use the capital to expand its market growth and accelerate the launch of strategic products to deliver on its next generation platform and machine learning initiatives.

Sycamore Tree Capital Partners (“Sycamore Tree”), a specialist asset manager with private and alternative credit investment expertise, announced today the closing of the firm’s inaugural Collateralized Loan Obligation (“CLO”), Sycamore Tree CLO 2021-1, Ltd. (“STCP CLO 1”). STCP CLO 1 totals $403.3 million, with Citibank Securities, NA serving as the underwriter and Dechert LLP acting as legal counsel to Sycamore Tree.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, announced that its Commercial Lending team offered a lending solution to support the growth of LAB Medical Manufacturing with acquisition financing for a new manufacturing facility in South Carolina. Headquartered in Billerica, Massachusetts, LAB Medical is a device manufacturer that produces precision surgical equipment for multibillion dollar organizations.

FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of Danelle Larsen as a Managing Director in the Office of the CFO Solutions practice within the firm’s Corporate Finance & Restructuring segment. Based in Los Angeles, Ms. Larsen is an interim leader with more than 20 years of strategic, financial, operational and restructuring experience across a range of transactions involving finance, treasury and accounting teams.

Haversine Funding, a leading provider of lender financing solutions for the specialty finance space, today announced the hiring of Edward (“Eddie”) Mun, CPA to serve as controller. Haversine continues its rapid expansion and this newest addition reflects the company’s commitment to our investors and the specialty financing marketplace by developing, deploying and managing customized financing options for lenders.

Christian Pugaczewski, a structured finance attorney with nearly two decades of experience developing innovative financial products and documenting derivative transactions, including hedging contracts for securitizations and energy project finance, has joined Hunton Andrews Kurth LLP as a partner in New York.

Solifi (formerly IDS), a global fintech software partner for secured finance, announced Sunflower Bank as its first client to move mission-critical Asset-Based Lending (ABL) operations to the Solifi software-as-a-service (SaaS) platform. Solifi completed migration of its end-to-end ABL SaaS solution earlier this year. Headquartered in Denver, Colorado, Sunflower Bank, N.A., is a regional bank founded over 129 years ago.

CVB Financial Corp. (“CVBF”), the holding company for Citizens Business Bank (“Citizens”), announced that Citizens has received regulatory approvals from the Federal Deposit Insurance Corporation and the California Department of Financial Protection and Innovation, respectively, to complete its announced merger with Suncrest Bank headquartered in Visalia, California (“Suncrest”). Subject to satisfaction of all remaining closing conditions, the parties anticipate consummating the merger on or about January 7, 2022.

eoffrey Frankel, CEO and Senior Managing Director – Hilco Corporate Finance, is pleased to announce that Dan Arnold will be transitioning to the role of Senior Managing Director, Enterprise Valuation Services. In this new role, Mr. Arnold will focus on building the Enterprise Valuation Services (EVS) practice, including originating new business in the core business valuation segment, as well as disputes and financial diligence practices.

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 provided an additional venture loan, in the principal amount of $5 million, to Everstream Analytics ("Everstream"), a provider of supply chain risk management software and an existing Horizon portfolio company.

PlainsCapital Bank recently announced that Kristi Conway has joined its Houston lending group as executive vice president at 2925 Richmond Ave. Conway has more than 17 years of financial services and leadership experience, all of which she’s gained at Frost Bank. Most recently, she served as market president for commercial lending. Conway also held multiple management roles at Frost Bank, including senior vice president and vice president.

Iron Horse Credit (“IHC”), a leading stand-alone inventory lender, is pleased to announce the closing of a $1,000,000 stand-alone inventory revolving line of credit to an eyewear distributor. With over 30 years of experience in the eyewear industry, the client was able to leverage its existing relationships with vendors and major retailers to provide both branded and non-branded eyewear products.

Celtic Capital Corporation announced its most recent new client relationship – a California-based manufacturer of precision metal stamping, welding and automated assembly products for various industries. This third-generation business was leveraging its vendor relationships in lieu of traditional financing.

Air Industries Group (“Air Industries” or the “Company”), an integrated manufacturer of precision assemblies and components for leading aerospace and defense prime contractors, today announced that Sterling National Bank (“Sterling National”) has agreed to expand the size of and extend the maturity of its Revolving Credit Facility and Term Loan. The revolving credit facility increased by 25%, or $4 million, from its current $16 million limit to $20 million. The inventory sublimit of the revolving credit facility also increased by $3 million, to $14 million.

Today, Blue Bird Corporation (NASDAQ: BLBD), a leading manufacturer of school and activity buses, announced that it entered into a fourth amendment to its credit facility, dated as of December 12, 2016.

J.P. Morgan Chase Bank, N.A., Citibank, N.A., RBC Capital Markets and Truist Securities, Inc. served as joint lead arrangers on the transaction, with additional commitments made by Bank of Montreal, Goldman Sachs Bank USA and U.S. Bank National Association.

Siena Lending Group LLC ("Siena"), a leading asset-based lender, today announced the completion of a three-year asset-based revolving credit facility for a family‐owned and operated Biodiesel Producer. The facility consists of a $50 million revolver and an $8.2 million term loan.

Synovus Bank today announced the appointment of Tom Dierdorff as its new Head of Corporate & Investment Banking (CIB), effective November 29. Dierdorff most recently served as managing director and group head of financial services for Regions Bank and Regions Securities.