TSL Express Daily Articles & News

Banc of California, Inc. (NYSE: BANC) (the “Company”) and Pacific Mercantile Bancorp (NASDAQ: PMBC) (“Pacific Mercantile”) today announced that all required regulatory approvals for the mergers of Pacific Mercantile into the Company and Pacific Mercantile Bank into Banc of California, N.A. have been received. Subject to the satisfaction of the remaining closing conditions, the transaction is scheduled to close on or about October 18, 2021.

Winston & Strawn represented BofA Securities and Wells Fargo Securities, LLC as joint bookrunners in connection with Berenson Acquisition Corp. I (the "Company") initial public offering of 25,000,000 units.

JPMorgan Chase Bank, N.A. is Administrative Agent, Joint Bookrunner and Joint Lead Arranger. Bank of America, N.A. and Fifth Third Bank, National Association are Joint Bookrunners and Joint Lead Arrangers. Regions Bank and BMO Harris Bank, N.A. are also lenders in the new facility. This new credit facility replaces the Company’s existing credit facility.

Citizens Financial Group, Inc. (NYSE: CFG) today announced that Sarah Lindstrom will become Head of Business Banking, effective October 4. Lindstrom will report to Simon Griffiths, Head of Core Banking for Citizens’ consumer bank.

First Citizens BancShares, Inc. (NASDAQ: FCNCA) ("First Citizens"), the parent company of First-Citizens Bank & Trust Company, and CIT Group Inc. (NYSE: CIT) ("CIT"), the parent company of CIT Bank, N.A., jointly announced that the two companies have agreed to extend the merger agreement from October 15, 2021, to March 1, 2022.

Helix Energy Solutions Group, Inc. ("Helix") (NYSE: HLX) announced today that it has entered into a new $80 million asset-based revolving credit facility (the “ABL Facility”) with a syndicated banking group. Bank of America, N.A. and Wells Fargo Bank, N.A. acted as Joint Lead Arrangers, and Bank of America, N.A. will continue to serve as Administrative Agent.

UPshow, the leading in-venue entertainment and marketing platform that develops interactive digital TV networks, announced today that it has closed a $10 million venture debt facility. The company will use the funds to make strategic investments in its product development and go-to-market engine.

The CFCC Board voted in favor of making the change to align itself with the name change embarked on by the CFA (Commercial Finance Association) which rebranded itself SFNet (short for Secured Finance Network).

Sallyport are thrilled to announce $1,500,000 in funding to a Canadian staffing firm serving the oil and gas services, mining and construction industries with permanent and temporary staffing solutions. The company is a subsidiary of one of Sallyport’s existing and very successful US clients and was originally referred to Sallyport by a contact in the UK.

CIBC Innovation Banking is pleased to announce a $15 million acquisition credit facility to Pennsylvania-based Blue Cloud Pediatric Surgery Centers (“Blue Cloud”), a leading provider of pediatric dental services in ambulatory surgical centers across the country.

LATAM Airlines Group, the region's largest carrier, said on Wednesday it had secured additional financing of up to $750 million, a key step in a bankruptcy protection process the airline initiated in 2020.

Betterment, the largest independent digital investment advisor with $32 billion in assets under management and nearly 700,000 clients, announced today that it has secured $160 million in growth capital comprised of a $60 million Series F equity round and a $100 million credit facility.

Waller Lansden Dortch & Davis, LLP has announced that Jay Greathouse, an accomplished deal lawyer focused on the full spectrum of healthcare transactions, has joined the firm as it continues to strengthen its nationally recognized and growing healthcare practice.

Kore.ai, a top conversational AI software company, today announced it has raised $50 million in Series C funding led by Vistara Growth and PNC, with additional participation from NextEquity Partners, Nicola Wealth and Beedie Capital. Kore.ai also secured an additional $20 million credit facility from Sterling National Bank bringing total funding to $70 million.

The law firm of Moritt Hock & Hamroff LLP announced today that Leslie A. Berkoff, Ted A Berkowitz, Michael Cardello III, James P. Chou, Robert S. Cohen, Theresa A. Driscoll, Andrew B. Eckstein, Robert M. Finkel, Keith J. Frank, Robert J. Fryman, Stephen J. Ginsberg, Henry L. Goldberg, Marc L. Hamroff, Alan S. Hock, Dennis C. O'Rourke, Michael S. Re, Robert M. Tils, Jonathan Trafimow, David N. Wechsler, Alexander D. Widell and Peter B. Zlotnick have been named New York Metro Super Lawyers® for 2021.

The facilities are supported by a globally diverse lender group composed of 60 banks, led by JPMorgan Chase Bank, which served as the administrative agent and lead bookrunner. The relationship bank group was expanded to include Black-, Hispanic-, women- and military veteran-owned financial institutions, further highlighting Ford’s commitment to diversity.

Angelo Gordon, a $44 billion alternative investment firm focused on credit and real estate investing, today announced that Scott Soussa, Senior Managing Director at Blackstone and formerly co-Head of BAAM’s Strategic Capital Group, will be joining the firm as Chief Strategy Officer in April 2022. In this new role, Mr. Soussa will report to Josh Baumgarten and Adam Schwartz, Angelo Gordon’s co-Chief Executive Officers.

The Company has commitments from seven financial institutions. The syndicate includes HSBC, which led the process as administrative agent, as well as RBC, TD, National Bank, BMO, CIBC, and Scotia.

TradeCap Partners recently secured a $1.6mm purchase order finance facility to a brand supplier of houseware goods based in North Carolina. The facility will support the company’s expansion into the retail channel, complementing its direct to consumer (D2C) business.

The business approached Celtic Capital to obtain a $1,000,000 accounts receivable line of credit and a $630,000 term loan in order to pay down the bank debt to a point where the bank would subordinate on the business assets to Celtic Capital and for working capital.