TSL Express Daily Articles & News

SmartStop Self Storage REIT, Inc. ("SmartStop") announced today that it entered into a multi-currency credit facility (the "Credit Facility") of up to $500 million with a syndicate of banks led by KeyBank National Association, Wells Fargo, N.A., Citibank, N.A. and Bank of Montreal. The facility consists of a $250 million revolving credit facility (the "Revolver") and a $250 million term loan (the "Term Loan"), and has an accordion feature permitting expansion of the Credit Facility up to $850 million, subject to certain conditions.

Wells Fargo & Company (NYSE: WFC) today announced that Reetika Grewal has been named head of Digital for Commercial Banking and Corporate & Investment Banking. She will join the company in late April and report to Ather Williams III, head of Strategy, Digital, and Innovation. She will be based in San Francisco. In this new position, Grewal will be responsible for accelerating development and implementation of commercial and corporate banking digital offerings and market-competitive capabilities. She will lead the company’s strategy to improve digital experiences for commercial and corporate clients, simplifying the way businesses interact with Wells Fargo.

From the first quarter Phoenix Management “Lending Climate in America” survey results reveals the third stimulus package will cause inflationary pressure in the U.S. economy. The third stimulus package includes nearly $2 trillion in coronavirus relief funds and puts money in the hands of millions of Americans. When asked whether the United States should prepare for inflationary pressures going forward, 77% of lenders agree that these historic economic stimulus packages will cause inflationary pressure in the U.S. economy. Twenty-three percent of lenders disagree and believe the economy will be able to sustain the infusion of money and inflation will be subdued.

Leading global professional services firm Alvarez & Marsal (A&M), has launched its Environmental, Social and Governance (ESG) Services practice, led by Managing Director, Julie Hertzberg expanding her existing leadership role within the firm. The ESG Services practice will be integrated with A&M’s financial, operational and industry expertise, in a unique approach to meet the ESG needs of private equity (PE) firms, their portfolio companies, corporate clients, and organizations across multiple industry sectors and geographies.

Second Avenue Capital Partners, LLC ("SACP") (www.secondavecp.com) announced it has closed on a senior secured credit facility to Cos Bar, a leading luxury specialty cosmetics retailer. The credit facility will be used to support new growth opportunities and provide additional working capital.

Tiger Group will begin accepting bids on March 23 for the March 30 online auction of assets from one of the best-known knitting, dyeing and finishing operations in the North American textile industry—the 250,000-square-foot Tricots-Liesse plant at 2125 Lily-Simon. The auction represents a rare opportunity to acquire state-of-the-art circular-knitting machines and dyeing and finishing equipment—including German- and Italian-made pieces like a solvent-scour machine by Sperotto and a relaxation dryer by Monforts, said John Coelho, Senior Director for Tiger’s Commercial & Industrial division.

JPMorgan Chase Bank, N.A., Morgan Stanley Senior Funding Inc., Goldman Sachs & Co. LLC, UBS Investment Bank, Bank of America, Barclays, and Jefferies are arranging the debt financing for the transaction. UBS Investment Bank, J.P. Morgan Securities LLC, BofA Securities, Barclays, and Jefferies served as buyside advisors in the transaction. Sidley Austin LLP served as legal counsel to Clearlake with Davis Polk & Wardwell LLP representing STG and RSA.

American Zinc Recycling Corp. (“AZR”) today announced that it has secured a new senior secured term loan credit facility provided by Blue Torch Finance LLC (“Blue Torch”). The Blue Torch loan is secured by a first lien on all the assets of AZR and its subsidiaries and matures in 2024. The Company was advised on the transaction by Ducera Securities LLC and by Akin Gump Strauss Hauer & Feld LLP. Blue Torch was advised on the transaction by Dechert LLP.

Azorra Aviation Holdings LLC (“Azorra”) today announced that it has entered into an agreement with funds managed by Oaktree Capital Management, L.P. (“Oaktree”), under which Oaktree and Azorra’s founders will invest $350 million to expand Azorra’s commercial aircraft leasing business.

CIT Group Inc. (NYSE: CIT) today announced that its Small Business Solutions group has been selected as winner of the "Business Lending Innovation Award" for its point-of-sale lending platform in the fifth annual FinTech Breakthrough Awards program. The recognition was awarded by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market.

NextGen Healthcare, Inc. (Nasdaq: NXGN), a leading provider of ambulatory-focused technology solutions, today announced that on March 12, 2021, it entered into a $300 million second amended and restated revolving credit agreement with JPMorgan Chase Bank, N.A., as administrative agent, U.S. Bank National Association and Bank of the West, as co-syndication agents, and certain other agents and lenders.

The bank has hired Michael Klein and Keith Murray as Managing Directors of Sponsor Coverage, reporting to Matt Maley, Head of Private Equity Sponsor Coverage within MUFG's Corporate Advisory Group. Messrs. Klein and Murray will be responsible for delivering the bank's full array of capabilities to sponsor clients including financing and capital markets solutions, advisory services and transaction banking. John Timoney has been hired by the Capital Markets Group as a Managing Director to focus on originating, structuring and syndicating direct lending transactions of both private-equity

EQ (Equiniti Group plc) is delighted to announce that its risk management business, EQ Riskfactor, today launches a series of new reports called the Receivables Finance Global Outlook. EQ Riskfactor’s established risk management technology uses automation to identify potential frauds using advanced analytics which highlight unusual activity, so that lenders can investigate and reduce risk. The technology also helps lenders to eliminate manual processes saving time and money.

ImageOne Interco, LLC (“ImageOne” or the “Company”), a portfolio company of Innovating Capital Management LLC (“Innovating Capital”), has announced the successful refinancing of its existing senior debt facility through a revolving line of credit from a syndicate of lenders led by MidCap Financial Trust (“MidCap Financial”) and a term loan facility from Catalur Capital Management, LP (“Catalur Capital Management”). FocalPoint Securities, LLC ("FocalPoint") served as exclusive financial advisor to the Company.

Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $5,000,000 to Nextaff Group LLC. (“Nextaff” or the “Company”). Headquartered in Overland Park, KS, Nextaff is a nationwide staffing agency, with each office locally owned and operated for a more in-depth, streamlined hiring process. Founded in 1998, the Company offers custom solutions in a variety of industries.

Citizens M&A Advisory announced today that it served as the exclusive M&A advisor to Tube Processing Corporation in its sale of its Commercial Tube Processing Division (CTP) to Nelson Global Products, a portfolio company of Wind Point Partners. Established in 1974, CTP is a manufacturer of complex, high-performance tube assemblies, metal fabrications and precision weldments for OEMs in a diverse set of end markets including on-highway, off-highway, construction and military durable equipment.

SLR Equipment Finance, formerly known as Nations Equipment Finance, expands its business development capabilities and announces that Jeffrey Bauer has joined the company. SLR Equipment Finance is pleased to announce it has hired Jeffrey Bauer as Senior Vice President of Business Development. In his role, Jeff will be responsible for growing SLR Equipment Finance’s leasing and lending activities in the MidAtlantic region of the U.S.

Yum! Brands, Inc. (NYSE: YUM) (the “Company”) today announced that certain subsidiaries that operate the Company’s KFC, Pizza Hut and Taco Bell businesses have completed the refinancing of the existing approximately $1.9 billion term loan B facility, approximately $431 million term loan A facility and approximately $1.0 billion revolving facility (the “Existing Facilities”) through the issuance of a $1.5 billion term loan B maturing March 15, 2028 (the “Term B Loan”), a $750 million term loan A maturing March 15, 2026 (the “Term A Loan”) and a $1.25 billion revolving credit facility maturing March 15, 2026

Zoom Telephonics, Inc., doing business as Minim (OTCQB: MINM) ("Minim"), the creator of innovative internet access products, today announced that it has closed on a $13.0 million credit facility in partnership with Silicon Valley Bank in lieu of its previous $5.0 million credit facility. This announcement follows a record-breaking quarter and year in Minim’s revenue.

Tronox Holdings plc (NYSE: TROX; the "Company") today announced that it completed its offering by its wholly owned subsidiary, Tronox Incorporated (the "Issuer"), of 4.625 percent Senior Notes due 2029 for an aggregate principal amount of $1,075 million, the net proceeds of which, along with cash on hand, will be used to fund the redemption in full of the Issuer's outstanding $615 million aggregate principal amount of 6.500 percent senior notes due 2026 and the redemption in full of Tronox Finance plc's outstanding $450 million aggregate principal amount of 5.750 percent senior notes due 2025.