TSL Express Daily Articles & News

The facility will primarily be used to provide letters of credit to support both existing and upcoming security requirements associated with new project interconnections and power purchase agreements for Scout's growing pipeline of renewable energy projects. With KeyBanc Capital Markets as Coordinating Lead Arranger, along with Rabobank and Wells Fargo, each Joint Lead Arrangers, the corporate credit facility also offers the ability to upsize to $85 million in the future.

On Monday, April 19, SFNet and its members met with Rep. Dan Meuser (R-PA), a member of the House Small Business Committee, to educate him about the secured lending industry as well as discuss specific concerns of SFNet around the Economic Injury Disaster Loan program (EIDL) at the Small Business Administration (SBA).

Phibro Animal Health Corporation (NASDAQ:PAHC) announced today that on April 22, 2021, the Company entered into an amended and restated credit agreement jointly arranged by BofA Securities, Inc. and Coöperatieve Rabobank U.A., with Bank of America, N.A. acting as Administrative Agent.

Signature Bank (Nasdaq: SBNY), a New York-based, full-service commercial bank, announced today several management appointments, promotions and transitions, all of which will address its progress to date and future growth and initiatives. After 21 years of dedicated service, Mark Sigona, Senior Executive Vice President and Chief Operating Officer, announced his retirement, effective June 30, 2021. Sigona, a founding member of the executive management team, joined as Senior Vice President and Chief Financial Officer. He served in this capacity until 2004 at which time he was appointed COO.

Victory Park Capital (“VPC”), a global alternative investment firm, and investment manager of VPC Specialty Lending Investments PLC (LON: VSL) (“VSL”), today announced the closing of a $200 million credit facility with Massachusetts Mutual Life Insurance Company (“MassMutual”) to finance VSL’s growth initiatives.

As Senior Director, Mr. Annapareddy will focus on originating, executing, and managing investment opportunities to finance buyouts, recapitalizations, and growth initiatives for sponsored and non-sponsored companies in the healthcare services industry.

MidCap Financial, a credit solutions firm focused on serving the middle market, today announced it has raised more than $800 million of new equity from a diverse group of global investors that included Apollo clients, including Athene as well as pensions, sovereign wealth funds and other leading institutions.

WhiteStar Asset Management ("WhiteStar"), the CLO, structured products, and broadly syndicated credit arm of Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake"), announced today the opening of a London office to drive its European expansion and part of the firm's commitment to its European investors. The office will be led by Gordon Neilly, who has joined the firm as Executive Chairman of WhiteStar Asset Management, Europe.

Dan Millar, VP for Sallyport states: “This client was in need of a working capital solution and was referred to us by a trusted partner. We were able to offer a non-notification facility that will continue to fuel their tremendous growth across 6 countries worldwide.”

Amerisource Business Capital announced the closing and funding of a $500,000 senior credit facility for a Louisiana-based trucking firm. The proceeds were used to support the company’s working capital and growth plans.

Gordon Brothers and Ritchie Bros. have created a formal joint venture, the Gordon Brothers & Ritchie Bros. Alliance. The Alliance provides end-to-end asset advisory and asset remarketing services to the insolvency and restructuring market in Australia and South East Asia.

American Woodmark Corporation (NASDAQ: AMWD) (the “Company”) today announced that it has entered into an amended and restated senior secured credit facility consisting of a $500 million revolving loan facility and a $250 million term loan facility. Both facilities mature on April 22, 2026. At closing, the Company borrowed the entire $250 million available under the term loan facility and approximately $264 million under the revolving loan facility.

Constant®, the creator of the Vultr® cloud computing and bare metal platform, today announced the closing of a $150 million credit facility from J.P. Morgan and Bank of America, including a $25 million uncommitted expansion option to accommodate future growth. Constant will use the additional capital to expand its global footprint of automated cloud infrastructure to serve its rapidly-growing customer base, further solidifying its leadership position in the independent cloud provider market.

CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on a $19.3 million loan to finance the acquisition of the Sugar Creek Health Center in Sugar Land, Texas. The Sugar Creek Health Center, an 84,646-square-foot medical office building located approximately 20 miles southwest of Houston, is leased to a diverse mix of tenants that provide various medical services including ambulatory surgery, imaging, orthopedics, women’s health, dentistry and optometry, among others.

White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it delivered a $3 million recourse factoring facility to a factor that provides funding to the trucking and transportation industry. The company has been in business since 2015, and the funding was secured against its accounts receivable and will support its growing portfolio and accelerate its expansion.

Century Park Capital Partners is pleased to announce the recapitalization of CJ Pony Parts, LLC (“CJ Pony Parts” or the “Company”). Headquartered in Harrisburg, PA, CJ Pony Parts is the market leader in the Classic Mustang e-commerce space. BMO Sponsor Finance provided the debt financing for the transaction.

SLR Healthcare ABL announced it provided a $10 million asset-based revolving line of credit an outpatient mental health services provider.

Comvest Partners, a leading middle-market private investment firm, announced today that its direct lending platform, Comvest Credit Partners, completed the final close of its latest flagship fund, Comvest Credit Partners V ("CCP V"). CCP V closed with over $1.3 billion of equity commitments and has also secured credit facilities to increase its available capital. To date, CCP V together with parallel funds and separately managed accounts, has provided credit to more than 35 new and existing portfolio companies.

Three years after acquiring Denver-based Headwaters, Capstone Headwaters today announced it is changing its name to Capstone Partners. The rebranding, which entails the unveiling of a new logo and website, is an integrated element of the firm's current growth strategy. The new brand, Capstone Partners, is intended to reflect the firm's strong team culture, core mission and vision for the future. The new website, launched today at capstonepartners.com, showcases the Capstone's fully integrated services and robust set of resources for privately held middle market companies.

Maxim Commercial Capital (“Maxim”) announced strong demand during the first quarter of 2021. Its Structured Finance program proved popular during the period, with business owners leveraging their equity in real estate and owned heavy equipment to fund working capital and fuel growth. Despite low inventory of well-priced, low mileage Class 8 used trucks, Maxim closed purchase financings ranging from $12,000 to $53,500 for hundreds of owner-operators across the U.S.