TSL Express Daily Articles & News

Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $750,000 to Flash Temps, LLC. The credit facilities will be used to provide working capital to support the company’s current operations.

The Yieldstreet Private Business Credit team rocketed through the first month of 2Q21 closing six new deals for a total of $31.2M. These deals are across both consumer and commercial asset classes, various positions within the capital stack, and different states.

Gartz is based in Texas and reports to Group Sales Manager, Steve Hansen. He brings extensive experience in growing middle market banking relationships, most recently serving as senior vice president, corporate banking with BBVA. Bassel is based in California and reports to Group Sales Manager, James (Jim) Farrell.

Ares Commercial Finance (“ACF”) announced that it has provided a $10 million senior secured multinational revolving line of credit to MicroStar International Holdings Corporation (“MicroStar”), a portfolio company of Freeman Spogli, for working capital purposes in support of the acquisition of Kegstar Holdings Pty Ltd (“Kegstar”). Kegstar, founded in Australia in 2012, engages in “keg pooling” and keg leasing services in Australia, the UK, and US.

ADC Therapeutics SA (NYSE: ADCT), a commercial-stage biotechnology company leading the development of novel antibody drug conjugates (ADCs) to treat hematological malignancies and solid tumors, today announced the receipt of the $50 million second tranche under its convertible credit facility with Deerfield Partners, L.P. and certain of its affiliates (collectively, Deerfield). Under the terms of the Facility Agreement dated April 24, 2020, Deerfield agreed to provide to the Company up to $115 million in financing consisting of two separate tranches.

Cimpress plc (Nasdaq: CMPR) has closed its previously announced $1.16 billion senior secured Term Loan B (the “Term Loan B”). In conjunction with this transaction, Cimpress redeemed all of the $300 million aggregate principal amount of its 12% second lien notes due 2025, which it issued one year ago during the height of pandemic uncertainty. Additionally, Cimpress’ Term Loan A due 2024 has been repaid and terminated and Cimpress repaid all amounts drawn under its revolving credit facility.

Hayward Holdings, Inc. (NYSE: HAYW), a global designer, manufacturer and marketer of broad portfolio of pool equipment and associated automation systems, announced today that its indirect, wholly owned subsidiary Hayward Industries, Inc. (the “Company”) has successfully secured commitments for a senior secured term loan facility (“New Term Loan Facility”) in an aggregate principal amount of $1 billion.

KeyBank National Association was the Administrative Agent and KeyBanc Capital Markets, Inc., Capital One, National Association and Regions Capital Markets were Joint Lead Arrangers.

mCloud Technologies Corp. (TSX-V: MCLD) (OTCQB: MCLDF) ("mCloud" or the "Company"), a leading provider of asset management solutions combining IoT, cloud computing, artificial intelligence ("AI") and analytics, is pleased to announce it has executed a commitment letter with ATB Financial ("ATB") for a $5 million secured operating line (the "ATB Facility"). Proceeds of the ATB Facility will be used to repay amounts owed by the Company to HSBC Bank Canada and for general working capital purposes.

Monroe Capital LLC (“Monroe”), Oak Hill Advisors L.P. (“OHA”) and Barclays Bank, PLC (“Barclays”), acting as administrative agent, announced the closing of a $325.0 million credit facility to support Vertical Bridge REIT, LLC’s (“Vertical Bridge”) merger with Eco-Site, LLC (“Eco-Site”) and the combined company’s future development of build-to-suit locations throughout the country.

These facilities comprise a five-year $2.5 billion sustainability-linked revolving credit facility, which matures in May 2026, and a nearly $1.2 billion sustainability-linked term loan A, which matures in October 2024. Crédit Agricole Corporate and Investment Bank (CIB) served as the sole sustainability structuring agent on both credit facilities.

Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo” or the “Firm”) today announced that Craig Farr will join the Firm as a Senior Partner to lead Apollo’s capital solutions activities. In this newly created role, Mr. Farr will spearhead Apollo’s centralized origination, structuring and distribution platform, reporting directly to Apollo Co-Presidents, Scott Kleinman and Jim Zelter.

Wingspire Capital announced today that it has provided a $95 million senior secured credit facility to Fox Racing, the global leader in motocross and mountain biking protective gear and apparel. The credit facility consists of a $35 million revolving line of credit and a $60 million term loan.

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.