TSL Express Daily Articles & News

The Company also secured a new $30 million Revolving Credit Facility and a new $370 million First Lien Term Loan, both led by J.P. Morgan's Strategic Situations. The financing resulted in an extension of the Company's debt maturity schedule, with no significant maturities prior to 2025.

Moritt Hock & Hamroff (MHH) announced today that attorneys from its Corporate/M&A, Estate Planning and Employment Practice Groups have joined forces to create its Closely-Held/Family Business Practice Group. MHH continues its guiding principle of Strength In Partnership® in which its practice areas collaborate across the firm to service and advise business owners of closely-held companies.

Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $1.3MM revolving A/R and inventory facility to a 25+ year-old privately-owned hosiery and sock manufacturer. The Company was looking to grow by continuing to expand its customer base and sought a more flexible lender to replace its restrictive lending facility.

Keystone Agency Investors (“KAI”), a strategic partnership between Keystone Insurers Group and Bain Capital Credit, today announced its entry into a $105 million Senior Credit Facility (“the Facility”) with Madison Capital Funding, LLC.

Mitsubishi UFJ Financial Group (MUFG) announced today the hiring of nine bankers to the Restaurant Finance group of its Corporate and Investment Banking division. Two leadership hires among them are Managing Director Nick Cole, who will head the newly expanded group and report to Scott Hagel, MUFG's Head of U.S. General Industries; and Managing Director Quinn Hall, who will lead loan underwriting and portfolio management and report to Cole.

Stonebriar Commercial Finance announced that Ben Carapezzi has joined the Company as Director of Originations. Based in Plano, Texas, Carapezzi will cultivate new and existing relationships to source fixed asset secured loan and lease opportunities.

Siena Healthcare Finance recently provided a $12.0MM working capital facility for a California based transportation company that provides non-emergency medical transportation. The facility consists of a revolver and term loan against the company’s vehicle fleet. The Company provides services in five states and continues to grow contracts with health plans and providers.

Iron Horse Credit, a leading stand-alone inventory lender, is proud to announce that it has hired Kristen Palmer as Business Development Officer. In her role, Kristen will be responsible for identifying new territories, partnership channels and building new client relationships.

Gordon Brothers, the global advisory, restructuring and investment firm, has been engaged by Danish Salling Group, owner of the Netto chain, to exclusively manage the store sell-out program of the Polish Tesco stores and fulfil the mergers and acquisitions process.

Barclays Bank PLC is acting as joint lead arranger, joint lead bookrunner and administrative agent of the new senior secured credit facility.

Commercial Finance Partners is pleased to announce a new $500,000 revolving credit facility for an oil and gas service provider. As part of Commercial Finance Partners new platform to fund both term and revolving credit facilities, the company originally provided a SBA 7(a) $5,000,000 acquisition loan to help the sponsor acquire the business.

“All of us at Republic Capital Access are honored to have been selected to be part of the Defense Department’s Trusted Capital Marketplace,” said Ed Stucky, President and CEO of Republic Capital Access.

Huntington Business Credit announced it closed a new $45,000,000 credit facility with SOL Acceptance, LLC on March 31, 2021. Proceeds of the facility were used to refinance existing indebtedness and to provide ongoing working capital growth financing.

Tiger Finance and Encina Business Credit have closed on $48.5 million in growth financing to Daytona Apparel Group, a portfolio company of Windsong Global. The revolver/term loan, arranged by Tiger Finance, will strengthen the balance sheet and support the growth strategy for popular Daytona owned and licensed brands such as Robeez, Ro+Me, Cloudveil, MISSION, Tommie Copper, Umbro, Real Tree, Stanley and Free Country, among others.

Onyx Asset Advisors, LLC, (“ONYX”) a boutique asset advisory and disposition firm, with offices in San Francisco and Los Angeles, is pleased to announce that Rick Briggs, a 40-year veteran of the financial services and asset-based lending industries, is joining its team as a managing director.

Sterling National Bank’s Franchise Group provided senior secured credit facilities totaling $16,500,000 to a North Texas based Domino’s Pizza franchisee. The credit facilities are being used to refinance existing debt and support an acquisition.

Wells Fargo & Company’s (NYSE: WFC) CEO of Consumer & Small Business Banking (CSBB) Mary Mack announced today the structure and leaders of her organization. This organizational structure is designed to focus on customers and their needs, improve customer experiences through simplified products and new digital capabilities, improve the skills and effectiveness of employees, and improve efficiency, all while building a foundation of strong risk and controls.

Columbus McKinnon Corporation (Nasdaq: CMCO) (the “Company” or “Columbus McKinnon”), a leading designer and manufacturer of intelligent motion solutions for material handling, today announced that the Company has entered into a covenant-lite term loan credit agreement, providing a Term Loan B Facility (“the Facility”) of seven years in the amount of $450 million. The interest rate under the new Facility will be determined based on LIBOR plus 2.75% with a 0.5% LIBOR floor and an issue price of 99.75.

Glatfelter Corporation (NYSE: GLT), a leading global supplier of engineered materials, today announced it has completed the previously announced acquisition of Georgia-Pacific’s U.S. nonwovens business for $175 million, subject to customary purchase price adjustments. Credit Suisse acted as Glatfelter’s financial advisor in connection with the transaction, and Shearman & Sterling LLP as its legal advisor.

CIT Group Inc. (NYSE: CIT) today announced that its Real Estate Finance business provided $35.7 million in financing for the construction of a new 17-story multifamily development in the Clinton Hill section of Brooklyn. The building, which will house 138 mixed-income rental units, is located at 230 Classon Avenue, on the corner of Willoughby Avenue in Clinton Hill. The one- and two-bedroom units will all have balconies and 30% of the units will be offered as affordable income rentals.