TSL Express Daily Articles & News

U-Haul Co. of West Virginia (the "Company") today announced it has filed for voluntary Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of West Virginia. The Company serves do-it-yourself moving and self-storage customers in West Virginia and small parts of Kentucky, Virginia and Ohio.

HSBC Bank USA, N.A., (HSBC), part of the HSBC Group, today announced that it is offering Sustainability-Linked Loans (SLL) that will enable U.S businesses to tie their borrowing to activities that support a more sustainable, resilient and prosperous world. HSBC SLLs are available in a variety of corporate loans and credit facilities, with terms linked to pre-determined sustainability performance targets (SPTs). Achieving SPTs results in a lower interest expense, effectively bringing financial incentives to the borrower’s sustainability strategy.

Intertape Polymer Group Inc. (TSX:ITP) (“IPG” or the “Company”) today announced a new five-year $600 million credit facility (the “Credit Facility”) pursuant to an amendment to its existing credit agreement with a syndicated lending group led by Bank of America, N.A., as Administrative Agent, and BofA Securities, Inc., BMO Capital Markets Corp., JPMorgan Chase Bank, N.A., The Toronto-Dominion Bank, and Capital One, National Association, as Joint Lead Arrangers and Joint Bookrunners.

Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of Securly, Inc. (“Securly”) by private equity sponsor Golden Gate Capital. Founded in 2012 and based in San Jose, CA, Securly is an end-to-end student safety and device management platform serving more than 10 million students globally across 2,500 K-12 school districts.

Panagram Structured Asset Management (“Panagram”), an Eldridge business and an SEC-registered investment adviser (“RIA”) specializing in structured credit, today announced its launch. Panagram currently oversees approximately $13.5 billion in assets under management.

PacWest Bancorp (Nasdaq: PACW) (the "Company"), announced today the hiring of Angela Kelley as their new EVP, General Counsel and Corporate Secretary. She will also serve as the EVP, General Counsel for Pacific Western Bank, the wholly-owned banking subsidiary of the Company. Mrs. Kelley comes to the Company with over a decade of legal experience primarily in the banking and finance sectors.

America First Multifamily Investors, L.P. (NASDAQ: ATAX) (“ATAX”) announced today that on June 11, 2021, it closed on a secured revolving Line of Credit facility (“LOC”) of up to $40 million with two lenders, BankUnited N.A. and Bankers Trust Company. BankUnited N.A. also serves as sole arranger and administrative agent. The LOC is secured by ATAX’s equity investments in its Vantage properties portfolio, a first mortgage on its Suites on Paseo MF Property and a bank account held at BankUnited, N.A.

California Bank of Commerce (CBC) announces the completion of a $4 million asset-based revolving credit facility with a wholesale reseller of porcelain cookware and dinnerware. CBC was initially engaged as the business sought to establish a relationship with an Asset Based Lender better suited to help it navigate its current credit needs and future plans. The credit facility will be used to pay off an existing facility with an incumbent lender and to support accounts receivable and inventory.

World Class Technology Corporation (WCT) designs, manufactures, and markets a full line of proprietary orthodontic products, including self-ligating bracket systems, wires, elastics, buccal tubs, and other orthodontic supplies under its OC Orthodontics brand. WCT and its majority investor, Caltius Equity, requested that Fifth Third refinance existing debt facilities to provide for working capital to fund continued growth and future dividend distributions.

Kate Farms®, the market leader bringing plant-based nutrition into healthcare, announced today that the company has secured a $30 million senior credit facility with Pacific Western Bank to help fuel the company's further growth and expansion. The transaction follows Kate Farms' recent Series B funding round totaling $60 million and led by Goldman Sachs Asset Management, Kaiser Permanente Ventures and Main Street Advisors.

CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on a $33.2 million loan to finance the acquisition of a medical office building in Brooklyn, New York. The class A medical office building is located at 902 Quentin Road, Brooklyn. Built in 2013, it features eight stories of medical office and academic space and an on-site parking garage.

Audax Private Debt announced that, as Administrative Agent and Sole Lead Arranger, it provided a unitranche credit facility to support the acquisition of Summit Spine & Joint Centers (“Summit” or the “Company”) by MSouth Equity Partners (“MSouth”), an Atlanta-based private equity firm.

Wingspire Capital LLC (“Wingspire”) has provided a $40 million senior secured revolving credit facility to Corsicana Mattress Company as the mattress manufacturer repositions itself for growth. The revolver is part of a broader recapitalization that included the acquisition of Symbol Mattress, which allows Corsicana to further diversify its product offering. Corsicana designs and produces handcrafted mattresses in the United States under brand names including American Bedding, Renue and Nightsbridge.

Hilco Global, the world’s preeminent financial services organization, announced today that its Hilco Retail Solutions platform, in a joint venture with Gordon Brothers, has been working with HBC to launch Shopper’s Find, a new retailer that is opening in former Lord & Taylor locations. Shopper’s Find is the department store for every shopper, offering savings of up to 60% off apparel for women, men, and children, fine jewelry, cosmetics, fragrances, handbags, footwear, designer furs & accessories, home décor, rugs, furniture, small appliances, mattresses, and much more.

Amerisource Business Capital announced the closing and funding of a $1,500,000 senior credit facility for a New York based video production firm. The proceeds were used to support the company’s growth.

INmune Bio, Inc. (NASDAQ: INMB) (the, “Company”), a clinical-stage immunology company focused on developing treatments that harness the patient’s innate immune system to fight disease, announced today that the Company has entered into a new $15 million credit facility with Silicon Valley Bank (SVB) and an affiliate of SVB Financial Group. INmune intends to use the proceeds from the facility to partially fund the buyout of an option held by Xencor, Inc., resulting from INmune’s in-licensing of XPro1595 (now known by its generic name, pegipanermin) in October 2017.

Truist Securities today announced that Michael Carter has joined the firm to lead the investment and corporate banking teams and will be located in Atlanta. Carter joins Truist from RBC Capital Markets where he was most recently global head, Technology Investment Banking.

Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries “Apollo”) today announced that entities, clients and funds managed by its affiliates (the “Apollo Funds”) have committed to invest up to $500 million in senior secured credit facilities originated by Victory Park Capital (“VPC”), a global investment firm with an extensive track record in asset-backed credit origination for emerging and established companies.

eCapital Corp. (“eCapital”), a leading alternative finance provider in North America to small and medium-sized businesses, today announced that it has named Kyle Wilson as Senior Vice President, Sales Director Business Development. Wilson brings more than 13 years of expertise in commercial financing to this role. He will oversee the business development team for eCapital’s Commercial Finance division in the United States and Canada.

Mitsubishi UFJ Financial Group (MUFG) announced today the appointment of Randall Chafetz to the role of Vice Chairman of the firm's Global Corporate and Investment Banking (GCIB) business. Chafetz will assume this newly created role in New York on June 29 and continue reporting to Masato Miyachi, Chief Executive of GCIB. In his capacity as Vice Chairman, Chafetz will lend senior relationship support to MUFG's clients worldwide, including financial institutions, institutional investors and corporate clients. He will also serve in an advisory role for GCIB's leadership around the globe.