TSL Express Daily Articles & News

Peter J. Rooney, a seasoned M&A and private equity lawyer with nearly 30 years of experience, has joined Stroock’s national Corporate Group as a partner in the New York Office. Peter joins Stroock from Morrison & Foerster, where he was a partner. Peter’s practice centers on representation of U.S. and multinational corporations, private equity firms and financial institutions in connection with leveraged buyouts, mergers, acquisitions, dispositions and related financings.

BizCap® (Business Capital since 2002) structured and delivered a $12MM asset-based line of credit for a producer of asphalt sold primarily to large highway construction companies in the state of California. The Company also produces distillate and naptha, sold to local refineries for the production of gasoline. Crude oil is processed into these finished products at its own plant, which has been in operation for over 88 years.

J D Factors announced it provided the following factoring facilities: $400,000 to a transportation company in Nova Scotia; $200,000 to a transportation company in New York; $75,000 to a transportation company in Georgia and $250,000 to a transportation company in Illinois.

Crestmark secured a total of $15,150,000 in ABL/factoring financial solutions for seven new clients; Crestmark Equipment Finance provided $30,768,825 in 15 new transactions; Crestmark Vendor Finance provided $6,544,102 in 57 new transactions; and the Government Guaranteed Lending group provided $18,126,800 in financing for four new clients in the second half of March.

American Homes 4 Rent (NYSE: AMH) (the "Company"), a leading provider of high-quality single-family homes for rent, today announced that the Company and its operating partnership, American Homes 4 Rent, L.P. (the "Borrower"), successfully closed a $1.25 billion, sustainability-linked revolving credit facility (the "Credit Facility"), amending its existing $800 million revolving credit facility. A total of 15 lenders participated in the Company's Credit Facility, including Wells Fargo Bank, National Association as Administrative Agent and JPMorgan Chase Bank, N.A. as Syndication Agent.

MONTICELLOAM, LLC (“Monticello”), a specialized private real estate and asset-based lender, servicer and manager providing innovative capital solutions, announced that it has hired and appointed Darren Margulis as Managing Director to oversee its Advisory Services business unit, which provides lenders and financial institutions custom asset management and special servicing solutions that are specifically designed for the Seniors Housing industry.

Marlin Business Services Corp. (NASDAQ: MRLN), a nationwide provider of capital solutions to small businesses (“Marlin” or the “Company”), today announced that it has entered into a definitive agreement in which HPS Investment Partners LLC (“HPS”) will, through its European Asset Value Funds, acquire all of the Company’s outstanding shares of common stock in an all cash transaction for $23.50 per share, as potentially subject to downward adjustment discussed below, which represents a 65% premium over the closing price of Marlin’s common stock of $14.24 on April 16, 2021.

Siena Lending Group LLC ("Siena") is pleased to announce the addition of Joe Panico, bolstering the firm’s commitment to serving clients across the Midwest. Panico joins the Siena team as Director of Originations, based in Cleveland, where he will focus on providing asset-based lending (ABL) solutions for middle-market companies in Ohio, Michigan, Pennsylvania and Western New York.

The joint lead arrangers and joint bookrunners for the facility are JPMorgan Chase Bank, N.A., BofA Securities, Inc., PNC Capital Markets LLC, U.S. Bank National Association, and Wells Fargo Securities LLC. JPMorgan Chase Bank, N.A. serves as Administrative Agent and J.P. Morgan Securities LLC serves as Sustainability Structuring Agent. Bank of America, N.A., PNC Bank, National Association, U.S. Bank National Association and Wells Fargo Bank, National Association serve as Co-Syndication Agents.

SLR Business Credit announced it provided a $12 million asset-based revolving line of credit to a distributor of veterinary medicine and supplies. Working through an investment banking group, the owners of this veterinary supplies company in Nebraska were introduced to SLR Business Credit to refinance existing bank debt and provide additional working capital to support growth.

Alleon Healthcare Capital is proud to announce the following recent additions to its healthcare providers financing portfolio: $25 million infusion pharmacy, $2.5 million for a home healthcare provider, $1 million for a genetic testing laboratory...

Marco Capital Inc. established a $600K factoring facility for a New York based staffing company specializing in providing global technology firms with temporary personnel. Building the business and extending terms to its customers was stretching out cash flow and impacting further growth.

Haversine Funding announced the following recently closed transactions: $3,000,000 participation in a medical receivables asset-based loan for an infusion pharmacy; $150,000 factoring participation in a telecommunications infrastructure services firm; $1 million subordinated debt facility to support the growth of a staffing factor and $5.6 million senior secured funding for a commercial real estate loan to a sawmill.

Jones Lang LaSalle Incorporated (NYSE:JLL) has amended its bank credit facility to maintain the company's operating flexibility and support its growth strategy. BMO Capital Markets Corp. and BofA Securities, Inc. were Joint Lead Arrangers for this transaction. In addition, HSBC Securities (USA) Inc., JPMorgan Chase Bank, N.A. and Wells Fargo Securities, LLC were Joint Bookrunners for this transaction.

The amendment extends the maturity of the credit facility to 2026 and includes 20 of the company’s banking partners. Joint lead arrangers and joint book runners on this transaction include BofA Securities, Inc., JPMorgan Chase Bank, Barclays Bank PLC, Citibank, N.A, Deutsche Bank Securities Inc., and BNP Paribas. BofA Securities, Inc. is acting as the Sustainability Coordinator.

The California Department of Financial Protection and Innovation has issued its latest proposed regulations pertaining to CA SB 1235. SFNet will be submitting a comment letter by the deadline of April 26.

EVCS, one of the largest electric vehicle (EV) fast-charging network operators on the U.S. West Coast, today announced that it has closed a credit facility with the Commodity and Global Markets group of Macquarie Group. The credit facility will enable EVCS to deliver on the installation of a significant pipeline of Direct Current Fast-Charging (DCFC) stations, adding to its existing large-scale DCFC network.

SSG Capital Advisors, LLC (“SSG”) acted as the investment banker to New Hampshire Plastics, LLC (“NHP” or the “Company”) in the sale of substantially all of its assets to Grimco, Inc. (“Grimco”). The transaction closed in March 2021. New Hampshire Plastics is a leading manufacturer of High-Impact Polystyrene (“HIPS”). The Company primarily produces custom roll and sheet-extruded HIPS for several end markets.

CrowdOut Capital LLC, a pioneering non-bank lender for lower middle-market businesses, announced today the initial funding of a $20 million facility to Lane Gate Advisors. “We are thrilled to add a great borrower to our loan portfolio,” stated Alexander Schoenbaum, Chief Executive Officer of CrowdOut Capital. “Lane Gate has a team of experienced life settlement investors with a differentiated, niche strategy. CrowdOut is excited to be invested in such a quality, non-correlated asset space.”

Banc of California, Inc. (NYSE: BANC) (the “Company”), the holding company for Banc of California, N.A. (the “Bank”), today announced the appointment of Alex Kweskin as Executive Vice President and Chief Human Resources Officer of the Company and the Bank, effective Monday, May 3, 2021. Mr. Kweskin will be based in Santa Ana and report to Jared Wolff, President and CEO.