TSL Express Daily Articles & News

J D Factors announced it has provided the following factoring facilities: $150,000 to a transportation company in Texas; $200,000 to a transportation company in Ontario; $200,000 to a transportation company in Illinois; $500,000 to a distribution company in Quebec...

AllianceBernstein L.P. ("AB") (NYSE: AB), a leading global investment manager, today announced the closing of AB BSL CLO 2, a $400 million collateralized loan obligation (CLO) with JPMorgan Chase acting as lead arranger. This marks the second CLO for the firm's broadly syndicated loan and CLO management business established in 2019 and led by AB's Director of Leveraged Loans Scott Macklin.

Performance Designed Products (“PDP”) is an industry leader providing high-quality licensed peripherals and accessories for all major video game platforms so players can level up their game.

COVID-19 impacted businesses across many industries and companies of all sizes. Through it all, CFOs and finance leaders were at the helm, helping their businesses navigate the impacts and chart a course forward. As the economy recovers from a challenging year, U.S. Bank sought to better understand what is top of mind with CFOs and finance leaders in 2021 and how they are helping their businesses thrive beyond COVID-19.

Versant Funding LLC is pleased to announce it has funded a non-recourse spot factoring transaction to a Mid-West-based software provider. This company is in the process of completing a sale to a private equity group and required cash quickly to meet its working capital needs until the sale is complete.

Truist Financial Corporation (NYSE: TFC) announced today the expansion of the Truist Commercial Community Bank's Industry Consulting team, adding waste and environmental services and building products to its growing list of industry specialties. Truist's Commercial Community Bank specializes in serving business clients with annual revenues between $2 million and $500 million.

The acquisition and related transaction costs are to be funded through a committed debt financing package underwritten by the National Bank of Canada ("NBC") and Yangaroo's existing cash on hand. The debt financing package includes an acquisition term loan facility, a revolving line of credit, and other day to day banking facilities. The package represents a total commitment from NBC of CAD $5.5 million ("Acquisition Facility") and will facilitate Yangaroo with the DMS acquisition, working capital requirements, and assist with future commercial and strategic banking.

JPMorgan Chase today announced details about Morgan Health, a new business unit focused on improving the quality, efficiency, and equity of employer-sponsored healthcare. The new group will be led by Dan Mendelson, CEO of Morgan Health, reporting to Peter Scher, Vice Chairman of JPMorgan Chase & Co. and a member of the firm’s Operating Committee.

Altmore Capital, a leading senior debt lender, today announced that it has closed its first cannabis debt fund exceeding its goal by over 200 percent. The new fund is available to plant-touching businesses with more than $10 million in revenue. To date, Altmore Capital has invested in and led over $130 million in financing in the cannabis industry and expects to complete an additional $200 million to $300 million in the next year.

Morgan Stanley (NYSE: MS) today announced that Ted Pick and Andy Saperstein have been named Co-Presidents of Morgan Stanley. Both executives are long-serving employees in key management positions, and both head world-class businesses with market leadership positions. Mr. Pick leads Morgan Stanley’s Institutional Securities business and will now also be responsible for Morgan Stanley’s international operations and become the Co-Head of Firm Strategy and Execution. Mr. Saperstein leads Morgan Stanley’s Wealth Management business and will now be responsible for all Wealth Management channels, including Financial Advisors, E*TRADE and Morgan Stanley at Work.

Tradewind Finance has announced the closing of a EUR 1.5 million export factoring facility for a producer of hazelnut items based in Turkey that sells to over 50 countries globally. The funding is being used to cover the cost of raw hazelnuts from suppliers, as well as to increase sales and expand the company's presence in European markets.

Alleon Healthcare Capital ("Alleon"), a specialty finance company focused on providing healthcare accounts receivable financing, medical accounts receivable factoring, and cash flow solutions to medical providers in the U.S., recently closed a $2,500,000 medical accounts receivable financing facility with a home care provider in New York (“Company”).

GlobeSt. Real Estate Forum named A&G Real Estate Partners to its annual list of retail real estate influencers, citing the firm’s success in saving American tenants $1.8 billion in occupancy costs and helping them stave off thousands of store closures last year. A&G—which works across multiple real estate sectors—was one of just seven recipients in the Company category of this year’s influencers list from the online and print CRE publication, which also honored Individuals and Teams for their contributions to retail real estate.

Heading into the post-pandemic world, middle market organizations are accelerating digital transformation. While finances may still be strained, 90% of companies plan to maintain or increase their digital spending in 2021, according to BDO Digital’s 2021 Middle Market Digital Transformation Survey, which polled 500 C-level executives.

White Oak Healthcare MOB REIT has acquired a Class-A Medical Office Building in the Atlanta metropolitan area. The Class-A medical office building is primarily leased to Emory Specialty Associates, a subsidiary of Emory Healthcare and Emory University, the largest hospital health system in the state, and other physician practices. The property is located in Stonecrest, Georgia, a submarket with three prominent health system facilities, Hillandale DeKalb Medical Center, Kaiser Permanente Panola Medical Center, and East DeKalb Health Center, and strong demographics.

Good Funding, LLC ("Good Funding"), a recently-launched small business finance company, has closed on a $20.0 million senior revolving credit facility with a U.S.-based, credit focused asset manager. The agreement includes an accordion feature with the option to increase the credit facility to $30.0 million. The transaction represents Good Funding's inaugural institutional financing. Proceeds will be used to increase the Company's funding capabilities and execute its strategic growth plan.

HiberCell, a biotechnology company developing therapeutics focused on preventing cancer relapse and metastasis, today announced that it has completed a Series B financing round for gross proceeds of $67.4 million. Concurrent to this financing, HiberCell closed on a $30 million debt facility with Hercules Capital, Inc. (NYSE: HTGC).

MidCap Financial today announced it has provided a $250 million senior revolving credit facility to Vericast Corp. (“Vericast”), a marketing solutions provider that directly influences consumer purchasing and transaction behavior at scale. The MidCap Financial credit facility refinanced the company’s prior credit facility and will provide for the company’s go-forward working capital needs.

Sallyport Commercial Finance is thrilled to announce the promotion of James Bartel to the position of senior vice president of sales, effective immediately. James has served Sallyport's SME and entrepreneur business owners diligently over the past four years, consistently over-achieving while promoting the Sallyport vision and values at every opportunity. James' role will continue to be pivotal to the growth of new business and the future of Sallyport.

"This non-dilutive credit facility provides us with important financial and operating flexibility at terms that we believe are favorable to the company," stated Peter van Stolk, Chief Executive Officer of Freshlocal. "These funds will assist us in advancing the development of our eGrocery Management Solution which enables the profitable provision of online grocery services at a time when the global grocery business is experiencing a rapid shift to on-line grocery."