TSL Express Daily Articles & News

CNH Finance is pleased to announce $45.5MM in new commitments throughout Q2, 2021. Recent financings include senior credit facilities to multiple skilled nursing facilities, a hospital and a healthcare record management company.

Unchained Labs, the life sciences company that's all about getting biologics and gene therapy researchers the right tools for the job, today announced that it has closed a $155M debt facility with Midcap Financial and Golub Capital to support future acquisitions.

Dresner Partners, a leading FINRA-registered, middle-market investment bank and Mergers Alliance member firm, is pleased to announce that it advised Table Talk Pies, Inc. on the refinancing of its credit facilities with new lenders, White Oak Commercial Finance, LLC and NFS Leasing, Inc. Terms of the transaction were not disclosed.

Lee Palm brings established track record as leader of new Commercial Finance business unit Seasoned veterans Brian Shapiro and Phil Mulder add depth and extensive industry experience 11-member team encompasses full business verticals necessary to immediately begin operations Further expands and diversifies commercial banking capabilities, product offerings and clientele

Bruce Richards, Chairman & CEO, and Louis Hanover, CIO, together the co-managing Partners of Marathon Asset Management, a leading global credit investment manager, announced several management changes today, including one senior departure and five senior promotions.

The law firm of Moritt Hock & Hamroff LLP has announced that Ilona Posner has joined the firm as counsel in its Real Estate practice group. Ms. Posner resides in the firm's Garden City office.

CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $25 million credit facility for F Street Investments LLC, a lender to real estate investors and developers. Based in Milwaukee, Wisconsin, F Street Investments LLC is part of the F Street Group, an investment company that includes a number of industry verticals, including real estate, hospitality, lending, and emerging markets.

Edward (Ted) Tuerk has joined King & Spalding’s Corporate, Finance and Investments practice as counsel in the Chicago office. Prior to joining the firm, he served as the Associate General Counsel at Capital One and prior to that as Senior Counsel – Healthcare Financial services at GE Capital.

Ares Commercial Finance (“ACF”) announced that it has provided a $20 million senior secured revolving line of credit to Trading Technologies International, Inc. The company, headquartered in Chicago, IL, provides trade execution software, infrastructure, and data services in futures, options and fixed income with global scale and connectivity to all major markets and exchanges worldwide. Proceeds from the financing will be used to support general working capital needs.

Harbor announced Tuesday they have raised funds from MakerDao to finance global trade using decentralized finance (DeFi) liquidity. MakerDao is investing in Harbor’s portfolio by providing a line of credit backed by a securitization pool of trade receivables. MakerDAO is a decentralized autonomous organization (DAO) which maintains and regulates the Dai stablecoin and is the first example of decentralized finance to receive significant adoption.

Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy has provided unitranche financing and an equity co-investment to support the management buyout of Texecom Ltd, which was supported by LDC, the U.K.-based private equity arm of Lloyds Banking Group. Terms of the financing were not disclosed.

Legacy Restoration ("Legacy" or the "Company"), a leading provider of exterior restoration and remodeling services, and Bessemer Investors LLC ("Bessemer"), a New York-based investment firm, announced today that Bessemer has acquired Legacy. Bessemer has partnered with Legacy's management team to provide liquidity to selling shareholders and capital to support the Company's growth through organic initiatives and acquisitions. Founder and CEO, Scott Mullins, and Legacy's management team will continue leading the Company as a stand-alone platform. Financial terms of the transaction were not disclosed.

Silicon Valley Bank acted as Administrative Agent and Bookrunner on the Facilities with Bank of America, N.A., Citizens Bank N.A., and PNC Capital Markets LLC each as Joint Lead Arrangers.

J.P. Morgan Asset Management today announced the expansion of its private credit platform and appointment of Vincent Lu and Brian Van Elslander as co-heads of the newly formed Global Performing Credit group. Mr. Lu and Mr. Van Elslander bring extensive experience in private credit and private equity sponsor coverage to the roles (full bios included below). The two new hires report to Meg McClellan, Head of Private Credit at J.P. Morgan Private Capital.

B. Riley Financial, Inc. (NASDAQ: RILY) (“B. Riley”), a diversified provider of business advisory and financial services, today announced that Tim Sullivan has agreed to join the firm as Head of Fixed Income with B. Riley Securities, Inc.

Quantum Corporation (NASDAQ: QMCO) announced today it has completed the refinancing of its senior secured term loan. Following a competitive proposal process, the Company remained with affiliates of the existing lenders and replaced the existing term loan facility with a new $100 million senior secured term loan that matures in 2026.

Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") is pleased to announce an additional $4.0 million of financing ("Credit Facility B") from its Senior Lender, Tallinn Capital Energy Limited Partnership ("Tallinn"), under the Senior Credit Facility agreement signed on January 20, 2021. The additional proceeds will be used for the payment of account payables relating to, and continued development of, its oil assets and miscible gas flood injection program in the Powder River Basin, Converse County, Wyoming.

Waverley Pharma Inc. ("Waverley Pharma" or the "Company") (TSXV: WAVE), a Canadian pharmaceutical company, is pleased to announce that it has entered into an agreement with Steinbach Credit Union Limited ("SCU") pursuant to which SCU has agreed to make available to the Company a line of credit for maximum aggregate proceeds of $3,000,000 (the "Credit Facility"). The Credit Facility carries a floating interest rate on standard commercial terms and is repayable as to principal amount drawn and accrued and unpaid interest thereon upon demand.

Bed Bath & Beyond Inc. (Nasdaq: BBBY) today announced it has amended its asset-based revolving credit facility ("ABL Facility"). The revised and expanded ABL Facility increases the Company's capacity from $850 million to $1.0 billion with improvements to borrowing terms and financial covenants. Among other things, this amendment reflects an improved cost structure and the amended agreement extends the original expiration date of 2023 to 2026.

ING Capital LLC ("ING") led a $300 million syndicated financing on behalf of Auramet Trading and Auramet International (collectively, "Auramet"), a precious metals merchant. ING acted as Mandated Lead Arranger, Bookrunner and Administrative Agent on the oversubscribed deal, which closed on July 30, 2021, and an increase over the previous facility of $235 million. In addition to ING, the lending group included Rabobank acting as Lead Arranger, as well as HSBC Bank USA N.A., Macquarie Bank Limited, Brown Brothers Harriman & Co, Mizuho Bank, Ltd, CIBC Bank USA and Bank of China.