TSL Express Daily Articles & News

Commercial Credit Group Inc. (CCG), an independent commercial equipment finance company, today announced the closing of a 144a privately-placed term asset-backed security (ABS) transaction. The $319,395,000 financing was placed with a broad group of fixed income investors, representing 24 unique institutions. JP Morgan Securities LLC served as Structuring Agent and Lead Bookrunner for the placement.

CIT Group Inc. (NYSE: CIT) today announced that the Industrial group within its Equipment Finance business has provided about $4.4 million in financing toward the acquisition of multiple pieces of heavy equipment. The equipment consists primarily of yard loaders and articulated dump trucks, which the client is using to upgrade its fleet of heavy equipment.

With the support of the USDA, NAC provided a $12.73 million government-guaranteed loan to supply Lynx with the funding it needed to take its operations to the next level. This loan is another remarkable example of the strength of the public-private partnership between the USDA and NAC, and the powerful impact companies like Lynx are having on Americans living and working in rural communities.

Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce the following recent activity in its private loan portfolio. During the third quarter of 2021, Main Street originated approximately $99.3 million in new private loan commitments across six new borrowers and funded total investments across its private loan portfolio with a cost basis totaling approximately $119.7 million.

Under the SL RCF the price paid by Teck will increase or decrease based on the company’s performance in reducing carbon emissions, improving health and safety, and strengthening gender diversity in its workforce. The new credit facility matures in October 2026, extending the previous facility by two years. The principal amount outstanding as of October 18 was US$198 million as compared to US$502 million as of June 30, 2021, and it is expected to be at zero by end of October 2021.

ByzFunder, the leading non-bank Fintech company, announced a significant upsizing of existing financing from strategic partner Old Hill Partners of up to $40 million. This financing round comes as a substantial increase from Old Hill Partners' first facility of $12 million in 2020.

Zedcor Inc. (TSXV: ZDC) (the "Company" or "Zedcor") is pleased to announce that, after discussing alternative competitive financing offers, the Company has entered into a new financing agreement with an Alberta based credit union that offered terms and conditions that most suited the Company's current needs and future growth plans.

The credit facilities are provided by a syndicate of banks led by National Bank of Canada, Bank of Montreal and Fédération des Caisses Desjardins as Co-Lead Arrangers, and comprised of Canadian Imperial Bank of Commerce, The Toronto-Dominion Bank, Scotiabank, HSBC Bank Canada, Royal Bank of Canada, Business Development Bank of Canada and Investissement Québec.

Conduent Incorporated (Nasdaq: CNDT), a business process services and solutions company (the “Company”), today announced it has successfully completed its previously announced debt refinancing. The Company closed its new first lien senior secured credit facilities (“Senior Secured Credit Facilities”) consisting of (a) a term A loan facility in the aggregate principal amount of $265 million with a maturity of five years, (b) a term B loan facility in the aggregate principal amount of $515 million with a maturity of seven years and (c) a revolving loan facility providing up to $550 million with a maturity of five years.

Lawrence Financial Group announced it provided $135 million in financing for the first three quarters of 2021. Lines of credit, subordinated debt, purchase order funding, term loans, inventory facilities, floor plans, and factoring were some of the many solutions Lawrence offered to its diverse national client base.

Encina Lender Finance, LLC (“ELF”) announced today that it has provided an inaugural senior credit facility to Urban Us Capital, LLC (“Urban Us Capital”), a leading venture capital platform providing both structured equity and debt investments engaged in origination and servicing of asset-backed capital to early-stage companies and startups focused on upgrading cities for climate change (climate tech and urbantech).

Haversine Funding closed a $13 million senior secured, lender finance facility to an equipment lender specializing in truck and trailer loans across the U.S.; closed $3 million of a $4.2 million real estate participation in three assisted living centers located in North Carolina and Florida; closed $1.8 million of a $3 million inventory participation in this agricultural equipment manufacturing loan and closed $1.5 million of a $3 million factoring participation to a staffing company located in Georgia.

Cold Bore Capital Management, LLC (“Cold Bore”) has announced the successful closing of acquisition financing for Regiment Security Partners (“RSP”). The debt financing was provided by Kayne Anderson Private Credit and Willow Tree Credit Partners. FocalPoint Partners (“FocalPoint”) served as Cold Bore’s exclusive financial advisor on the transaction.

As PRG prepares for the full reopening of the industries it serves, it has enlisted Tiger Group to auction select live event and production-ready AV gear from its existing rental inventories. The gear from PRG, which maintains the largest rental inventory of production equipment globally, features a wide array of broadcast and digital cameras, broadcast camera lenses, projectors, heads, and camera accessories.

New Mountain Capital (the “Firm” or “New Mountain”), managing over $35 billion across private equity, credit, and net lease real estate, today announced the closing of its latest direct lending fund, New Mountain Guardian III BDC, L.L.C. (the “Fund” or “Guardian III”) with approximately $1.15 billion of capital commitments from a diverse group of investors. Commitments included a substantial investment from the General Partner and employees of the Firm.

Mayer Brown announced today that Sam Patranella joined the firm’s Houston office as a partner in the Corporate & Securities practice, where he will focus on energy and private equity transactions. Previously, Mr. Patranella was vice president, general counsel and corporate secretary for Luxe Energy LLC and Luxe Minerals LLC, where he was also an initial member.

OppFi Inc. (NYSE: OPFI) (“OppFi”), a leading financial technology platform that powers banks to help everyday consumers gain access to credit, announced today that it has amended its existing $75 million credit facility with Atalaya Capital Management to support the growth of the newly launched OppFi Card, issued by First Electronic Bank, Member FDIC.

B. Riley Financial (NASDAQ: RILY) ("B. Riley") today announced the expansion of its Corporate Advisory and Valuation Services practice with the addition of Dave Bookbinder and Quinn Shearer to B. Riley Advisory Services. Bookbinder and Shearer bring significant business and intangible asset valuation expertise, serving strategic corporate finance functions in areas including tax planning, financial and tax reporting, transaction advisory and due diligence.

inTEST Corporation (NYSE American: INTT), a global supplier of innovative test and process solutions for use in manufacturing and testing across a wide range of markets, including automotive, defense/aerospace, industrial, medical, semiconductor and telecommunications, today announced that it has executed a new five-year credit agreement with M&T Bank, which includes a $25 million non-revolving delayed draw term loan and a $10 million revolving credit facility.

Carrick Specialty Holdings LLC (“The Carrick Group” or “Carrick”), an international non-life legacy business providing reinsurance and run-off management solutions, today announced that its Bermuda-based subsidiary, Carrick Holdings (Bermuda), has entered into an agreement with Bank of Montreal to provide funding of up to $40 million for legacy transactions. Carrick was advised by DLA Piper, and Mayer Brown LLP was advisor to Bank of Montreal.