TSL Express Daily Articles & News

First Bancorp (NASDAQ – FBNC), the parent company of First Bank, announced today changes in the management team of the Company and the Bank. Adam Currie will become Chief Banking Officer of First Bank; Elizabeth B. Bostian will become General Counsel and Chief Financial Officer of the Company; and Blaise Buczkowski, Chief Administrative Officer, will continue in that role and become the Company's Chief Accounting Officer, reporting to Ms. Bostian.

KKR & Co. Inc. (together with its subsidiaries, “KKR”), a leading global investment firm, today announced that Joe Bae and Scott Nuttall have been appointed Co-Chief Executive Officers, and Co-Founders Henry Kravis and George Roberts will remain actively involved as Executive Co-Chairmen of KKR’s Board of Directors. The leadership transition is effective immediately.

Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded two new revolving accounts payable funding facilities in September. The first is a $3,500,000 limit to a privately held third party Logistics provider who came to Tradecycle after receiving payments from Tradecycle. The second was a $300,000 limit to a manufacturer of specialty HVAC equipment for large industrial and government buildings, which was referred to Tradecycle by their senior lender.

Pitney Bowes Inc. (NYSE: PBI), a global technology company that provides commerce solutions in the areas of ecommerce, shipping, mailing and financial services, today announced that Tom Doherty has been appointed Vice President, Lending Services and Products. He joins Pitney Bowes from CIBC Bank USA where he served as Managing Director and Head of Business Banking.

'Buy now, Pay smarter.' company, Opy USA, Inc., (Opy), and its parent company Openpay Group Ltd (ASX: OPY) (Openpay), announced today the signing of a $271.4 million secured debt facility with Goldman Sachs and investment advisory firm Atalaya Capital Management.

Jeneen Marziani, who has served as Ohio president for the past 13 years, has been named president of Cleveland. Kelly D’Ambrosia, Merrill Lynch Market Executive has been named president of Columbus. Mark M. Ryan, Merrill Lynch Market Executive has been named president of Cincinnati.

Ares Capital Management LLC acted as Administrative Agent and Lead Arranger with respect to the New Facility. Canaccord Genuity Corp. acted as financial advisor and DLA Piper LLP acted as legal counsel to Dye & Durham for the transaction. Latham & Watkins LLP acted as legal counsel to the lenders for the transaction.

Epiq, a global technology-enabled services leader to the legal services industry and corporations, released its September 2021 bankruptcy filing statistics from its AACER bankruptcy information services business. Overall, September new filings for all chapters were down 4% or 30,907 month-over-month, down from 32,263 in August 2021.

Global law firm White & Case LLP announced the promotion of 59 lawyers around the world to its partnership today. The promotions are effective on January 1, 2022, and represent 12 of the Firm's global practices across 24 locations throughout the Americas, EMEA and Asia-Pacific.

SmartStop Self Storage REIT, Inc. (“SmartStop”) announced today that it exercised $200 million of its accordion (the “Accordion”) under its existing multi-currency credit facility (the “Credit Facility”) with a syndicate of banks led by KeyBank National Association, Wells Fargo, N.A., Citibank, N.A. and Bank of Montreal.

TAB Bank is pleased to announce it has provided a clean air products manufacturer in Florida with a $3.25 million asset-based credit facility. In addition to the revolving credit line, TAB also provided the company with $1.7 million in an equipment term loan. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.

Espresso Capital announced today that it has provided MAP Health Management, LLC with a $14 million credit facility. MAP will use the funds to scale its business and help fuel its M&A strategy. MAP's integrated platform is designed to improve outcomes for patients being treated for addictions and other behavioral health illnesses and delivers a broad range of telehealth services including virtual peer support, psychiatric care and therapeutic care for patients and their family members.

J.P. Morgan Chase Bank, N.A., Wells Fargo Securities, LLC, U.S. Bank National Association, BofA Securities, Inc., Capital One, National Association, and PNC Capital Markets LLC served as Joint Lead Arrangers with JP Morgan Chase Bank, N.A. serving as the Administrative Agent. Wells Fargo Bank, National Association, U.S. Bank National Association, Capital One, National Association, PNC Bank, National Association, and Bank of America, N.A. served as syndication agents.

Alston & Bird advised Synovus Bank, as administrative agent and a lender, in SPB Hospitality’s acquisition of J Alexander’s Holdings, the parent company of J Alexander’s Restaurant and other brands. Upon closing, each share of J. Alexander’s common stock was converted into the right to receive $14.00 in cash per share, which equates to an equity value of approximately $220 million.

When a Los Angeles apparel manufacturing and import company sought funding for their Fall and Winter orders, they chose Republic Business Credit to fuel their growth. Republic approved a scalable traditional factoring facility to support their expected growth in anticipation of the orders they have received for the additional reopening of retail stores.

Apex Clean Energy (“Apex”) and Ares Management Corporation (NYSE: ARES) (“Ares”) today announced that funds and other accounts managed by Ares’ Infrastructure and Power strategy have entered into an agreement to acquire a majority stake in Apex. The transaction will provide Apex with additional equity growth capital as it seeks to transition to a pure-play renewable energy independent power producer (IPP).

Leading global professional services firm Alvarez & Marsal’s (A&M) Global Transaction Advisory Group (TAG) has launched A&M Data Intelligence Gateway (A&M DIG), a new proprietary technology that significantly increases the speed of deal identification. Led by A&M DIG Executive Directors Tara Bilby, and Mishelle Weinerman, along with Chief Technology Officer Joey Baruch, the technology provides private equity firms with data, for better private market intelligence, from which to make informed deal identification decisions.

Thentia, a global leader in GovTech software as a service (SaaS), announced today that it has secured a $15 million credit facility to support key investments and acquisitions as the company accelerates its rapid expansion into new markets. This latest financing marks Thentia's third financing from Espresso Capital, a leading provider of venture debt solutions, and its second major capital event this year.

BMO Financial Group (TSX: BMO) (NYSE: BMO), acting as sole Sustainability Structuring Agent, has announced a financing deal with royalty company Sandstorm Gold Ltd. ("Sandstorm" or "Sandstorm Gold Royalties"). Adopting a Sustainability-Linked Loan structure as part of its 2021 revolving credit facility renewal enables Sandstorm to link its ESG strategy and cost of capital, reinforcing and demonstrating its commitment to sustainability.

Runway Growth Capital LLC ("Runway" or the "Company"), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, announced today that it has hired Igor DaCruz as Managing Director to continue to expand the company's Life Sciences Origination team.