TSL Express Daily Articles & News

Tradewind Finance has provided a USD 1 million domestic factoring facility to a seafood importer and wholesaler based in the United States that sells a variety of fish, including snapper, tuna, swordfish, mahi-mahi, and grouper, to retailers and distributors in the USA. The company is a new subsidiary of a large seafood farmer and processor based in Costa Rica and is using the funding to expedite cash flow back to the parent company and support growth in the USA.

Fresh Acquisitions, LLC which operates Furr’s Fresh Buffet©, and several of its affiliates including Buffets LLC and its subsidiaries, which operate Ryan’s©, Old Country Buffet©, Tahoe Joes Famous Steakhouse©, and Hometown Buffet©, filed for Chapter 11 bankruptcy protection earlier today to strengthen their operations and recapitalize their businesses. The companies will have access to additional liquidity through a post-petition debtor in possession loan being extended by VitaNova Brands©.

First Business Bank announces the closing of a $4 million factoring and inventory finance facility by its Accounts Receivable Financing group. The client is a distributor of outdoor home products, selling directly to home improvement retailers as well as directly to consumers through an e-commerce site.

Pinnacle Bank (OTCQB: PBNK) headquartered in Gilroy, CA announced today that Mayra Marquez has joined the bank as Senior Vice President, Senior Relationship Manager.

Based on continuing significant growth, EisnerAmper LLP, a leading global business advisory firm, announces new industry offerings along with their respective new national leaders.

Houlihan Lokey (NYSE:HLI), the global investment bank, announced today that Jonathan Guskind has joined the firm as a Managing Director in the Healthcare Group, covering medical technology. He is based in New York. Mr. Guskind joins from Morgan Stanley, where he spent more than a decade and most recently helped lead the medical technology coverage effort within the Healthcare Investment Banking group. Prior to Morgan Stanley, he worked in BNP Paribas’ Leveraged and Acquisition Finance group.

Franklin Capital is pleased to announce the completion of two new accounts receivable financing facilities. Franklin Capital provided an accounts receivable financing facility to a UK-owned temp staffing business and an accounts receivable financing facility to a franchise of a large staffing firm.

The Credit Facility consists of a revolving loan, under which repayments and additional drawdowns will be permitted from time to time, provided that the amounts owing under the Credit Facility shall not exceed the Borrowing Limit of C$22.5 million. The Credit Facility will have a term of 12 months, which may be extended for an additional 12 months upon mutual agreement.

Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, has announced the closing of a $50 million senior secured term loan with Mainstay Medical Holdings plc (“Mainstay” or “the Company”), a medical device company focused on commercializing an innovative implantable restorative neurostimulation system, ReActiv8®, for the treatment of disabling mechanical chronic low back pain (“CLBP”).

Citigroup Global Markets Inc. and its affiliates acted as sole lead arranger and bookrunner for the bridge loan facility and joint lead arranger and joint bookrunner for the new revolving credit and term loan facilities along with Bank of America, N.A., The Bank of Nova Scotia, Wells Fargo Bank, National Association, HSBC Bank USA, N.A., and MUFG Bank, Ltd, and Sumitomo Mitsui Banking Corporation acted as a joint lead arranger and joint lead bookrunner on the term loan facility.

GURU Organic Energy Corp. (TSX: GURU) (“GURU” or the “Company”), Canada’s leading organic energy drink brand, is pleased to announce that it has entered into a three-year committed $10 million credit facility with the Canadian Imperial Bank of Commerce (“CIBC”), replacing its current facilities.

Seyfarth announced today the arrival of partner Paul Ferrillo to its Litigation department, global Privacy & Cybersecurity team, and Securities & Fiduciary Duty Litigation group in New York. Ferrillo was most recently a partner at McDermott Will & Emery LLP in New York.

Eric Schloemer has been promoted to Director of Business Development for Tiger Group, which specializes in a variety of asset dispositions and valuations, as well as secured debt financing and equity investments. The 14-year veteran of the financial services industry was previously a Senior Associate in Tiger’s Valuation Services division.

Barclays is Administrative Agent and Collateral Agent on the Amended & Restated Credit Facility and, together with Bank of Montreal, Citibank, N.A., Goldman Sachs Bank USA, HSBC Bank USA, N.A., JPMorgan Chase Bank, N.A., and Royal Bank of Canada acted as Joint Bookrunner, Joint Lead Arranger, and Co-Documentation Agent. AgFirst Farm Credit Bank and American AgCredit, PCA acted as Joint Bookrunners, Joint Lead Arrangers, and Co-Syndication Agents.

John Newland, PetIQ’s Chief Financial Officer, commented, “We are pleased to have partnered with both Jefferies Finance LLC and Key Bank National Association on these new credit facilities which offer more favorable terms, a 125-basis point decrease in our annual interest rate on our term loan and greater financial flexibility to support our future growth.”

R.R. Donnelley & Sons Company (NYSE: RRD) (“RRD” or the “Company”) today announced that it has completed an amendment (the “ABL Amendment”) to the credit agreement for its senior secured asset-based revolving credit facility (the “ABL Credit Facility”) with Bank of America, N.A., JPMorgan Chase Bank, N.A., PNC Bank, National Association, and Wells Fargo Bank, National Association, acting as joint lead arrangers and joint book runners for the ABL Amendment.

Wintrust Receivables Finance announced the closing of a new $4.75 million line of credit for a provider of logistics and transportation management services. The family-owned and operated company manages both the inbound and outbound freight for a number of well-known firms in the retail and industrial food sector. The company lost its largest customer in mid-2019, and efforts to replace that revenue were delayed by the early shutdowns related to COVID-19.

Rezolute, Inc. (“Rezolute” or “the Company”) (Nasdaq: RZLT), a clinical stage biopharmaceutical company dedicated to advancing targeted therapies for rare and metabolic diseases with serious unmet needs, today announced that it has entered into a $30 million debt financing agreement with investment affiliates managed by SLR Capital Partners (“SLR”).

Insulet Corporation (NASDAQ:PODD) (Insulet or the Company), the global leader in tubeless insulin pump technology with its Omnipod® brand of products, today announced that it has launched the syndication of new senior secured credit facilities, comprised of a senior secured revolving facility and a senior secured term loan B facility (the senior secured credit facilities).

Katten announced today that Kimberly Smith has been named the firm’s new global chair of its Corporate department effective immediately. Smith will lead more than 125 attorneys housed in the department and succeeds Mark R. Grossmann, who served as global chair of the group for more than a decade.