TSL Express Daily Articles & News

Accel Entertainment, Inc. (NYSE: ACEL) (“Accel”), a leading distributed gaming operator in the U.S., today announced that it has amended its existing senior secured credit facility (“Amended Credit Facility”) to increase its borrowing capacity from $438 million to $900 million with a new five year term. The Amended Credit Facility consists of a $150 million Revolving Credit Facility, a $350 million Term Loan A and a $400 million Delayed Draw Term Loan.

Huntington Business Credit announced it closed a new $10,000,000 credit facility with Mid America Freight Logistics, LLC on October 1, 2021. Proceeds of the facility were used to refinance existing indebtedness and to provide ongoing working capital growth financing.

During the Chapter 11 process, Kirkland & Ellis LLP served as legal counsel to the Company, and Alvarez & Marsal North America, LLC served as restructuring advisor. Guggenheim Securities, LLC served as the Company’s investment banker. Davis Polk & Wardwell LLP served as legal counsel and Evercore Group L.L.C. served as investment banker and financial advisor to SVPGlobal. Wachtell, Lipton, Rosen & Katz served as legal counsel and PJT Partners LP served as investment banker for an ad hoc group of consenting creditors.

Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced that it has entered into definitive documentation in respect of a US$100 million Senior Secured Credit Facility (the “Acquisition Facility”) from a portfolio company of SunStream Bancorp Inc. (“Sunstream”), a joint venture sponsored by Sundial Growers Inc.

White Oak Global Advisors, LLC (“White Oak”), announced it provided a $80 million term loan supporting the refinancing of one of the largest non-ferrous and ferrous metals recyclers in the US. The structure, which also includes an $80 million asset-based credit facility, provides the company with a more efficient capital structure and increases its borrowing capacity as commodity prices increase.

Winston & Strawn represented Jefferies and BofA Securities as placement agents on the PIPE in connection with Live Oak Acquisition Corp. II’s (NYSE: LOKB) business combination with Navitas Semiconductor ("Navitas") (NASDAQ: NVTS), an industry leader in GaN power ICs, business combination with. Navitas' common shares and warrants began trading on Wednesday, October 20, 2021 on the Nasdaq Global Market under the ticker symbols "NVTS" and "NVTSW".

Alkame holding, Inc. has completed the revolving finance agreement with its private equity lender and largest shareholder. Under the agreement, the Company has ability to draw down on the line based on a percentage of purchase orders it has received from clients upon approval of the lender. In addition, upon lender approval, the Company can utilize the line for certain expenditures such as additional equipment required to meet special needs, ramp up production capabilities, and purchase raw materials required for production.

Amalgamated Bank (“Amalgamated”), a wholly-owned subsidiary of Amalgamated Financial (the “Company”) (Nasdaq: AMAL) today announced that Ivan Frishberg has been named Senior Vice President and Chief Sustainability Officer, and will be part of Bank Leadership effective October 22, 2021.

Maranon Capital, L.P. (“Maranon”) announced today the addition of five members to the firm’s investment and portfolio teams. Christian Jacobs (“CJ”) has joined the firm’s investment team as an Analyst and Daniel Figliulo, Quinn Gaughan, Gregory Hulse and Jacqueline Trujillo joined the portfolio team as Portfolio Analysts.

Amerisource Business Capital announced the closing and funding of a $4,000,000 senior credit facility for a nurse staffing firm based in Tennessee. The proceeds were used to fund working capital and continued growth.

Ares Management Corporation (“Ares”) (NYSE: ARES) announced today the formation of Ares Wealth Management Solutions (“WMS”). WMS will oversee the product development, distribution, marketing and client management activities across Ares’ investment offerings in the global wealth management channel. With a team of more than 90 fundraising and client service professionals, WMS will comprise one of the largest fundraising and client service teams dedicated to the wealth management channel in the alternatives industry.

J D Factors announced it provided the following factoring facilities: $150,000 to a transportation company in Alberta; $120,000 to a transportation company in Illinois; $100,000 to a transportation company in Alberta; $150,000 to a transportation company in British Columbia...

Simpay (formerly known as Alpha Card Services), a Trevose, PA-based independent sales organization specializing in merchant service solutions, received a $17m term loan from Columbia Pacific Business Finance. The funds will be used to refinance existing debt and fund expansion of Simpay’s sales and service initiatives.

Business First Bancshares, Inc. (Business First) (Nasdaq: BFST), the holding company for b1BANK, and Texas Citizens Bancorp, Inc. (Texas Citizens) today jointly announced the signing of a definitive agreement under which Business First will acquire Texas Citizens and its wholly owned bank subsidiary, Texas Citizens Bank, National Association. Following the completed transaction, the combined institution is expected to have total consolidated assets of approximately $4.9 billion.

Finacity Corporation, a White Oak Company, (“Finacity”) announces that it has successfully launched a trade receivables securitization for a United States headquartered leading technology support company supporting enterprise and consumer products as well as managing IT infrastructure.

Stonebriar Commercial Finance (“Stonebriar” or “the Company”) today announced the closing of a seven-year $325 million term loan credit facility with Overseas Shipholding Group, Inc. (“OSG”), a leading provider of energy transportation services for crude oil and petroleum products in the Jones Act trade. The loan is primarily secured by first preferred ship mortgages on ten U.S. flagged product transport vessels, including tankers and articulated tug and barges.

Winston & Strawn LLP represented WebFX, a full-service digital marketing agency, in connection with its capital investment from Trilantic North America, a growth-focused middle market private equity firm focused on control and significant minority investments in North America.

SLR Business Credit announced that Randy Mitzman has joined the company as a managing director and senior vice president. He will be primarily focused on SLR’s FastPay subsidiary. FastPay provides asset based loans and factoring to digital media and advertising businesses throughout the United States.

Yieldstreet Private Business Credit entered year two in a tremendous fashion. In 3Q 2021, YS PBC closed a total of $115 million in new deals across both consumer and commercial asset classes within various positions of the capital structure.

The Interface Financial Group (“IFG”) announced the funding of a $21,000,000 digital supply chain finance for suppliers of retail and automotive buyers. The early payments provided by IFG help suppliers in the US, South Asia and Europe to navigate through a challenging time of supply chain disruptions caused by the Covid-19 epidemic.