TSL Express Daily Articles & News

SG Credit Partners provided a $6 million guarantor-based loan for a single-asset real estate holding company operating as a subsidiary of a broader multi-family / student housing real estate syndication portfolio. The Company needed capital quickly to execute on additional portfolio purchases and support working capital at the parent level, where COVID-19 restrictions had temporarily affected occupancy rates at some of the student housing assets.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced it has recently extended a new credit facility for Freeport, Maine-based Eastland Shoe Corp. By taking the time to understand the company’s unique needs and challenges, CSB’s Asset-Based Lending team created a custom solution for Eastland that will enable the company to refinance existing debt, as well as provide additional liquidity that the company will utilize to support multiple growth initiatives.

Splitit Payments Limited (“Splitit” or the “Company”) (ASX:SPT), a global payment solutions provider, announces that it has signed a US$150 million receivables funding facility with Goldman Sachs Bank USA to support the expansion of its business. The new three-year revolving facility complements the Company’s strong balance sheet and is a key element of its growth and capital management strategies for 2021 and beyond. The facility is lower cost than Splitit’s existing funding and its use is expected to increase Splitit’s gross margins over time.

AECOM (NYSE:ACM), the world’s premier infrastructure consulting firm, today announced that it has executed an amendment to its existing senior secured credit facilities. The amendment extends the maturity of the facilities to 2026 and reduces the Company’s borrowing costs, which is aligned with the needs of the Professional Services business. The amended facilities consist of a $1.15 billion revolving credit facility and a $247 million Term Loan A U.S. facility.

QueensGiant, a specialty boutique investment bank focused on Lender Finance and Fintech, announced it help arrange a $55 million senior credit facility for a purchase finance company. This new facility will help refinance existing debt as well as offer increased capacity to finance consumer purchases at the point-of-sale.

Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $23.5 million senior credit facility and revolving line of credit to Prosper Life Care Inc. ("Prosper Life" or “the Company), a management company with over three decades of combined experience in healthcare, Prosper Life specializes in assisted living and memory care.

Armstrong Teasdale proudly announces the acquisition of London firm Kerman & Co., effective Feb. 5, 2021. The addition of over 50 lawyers and staff bolsters Armstrong Teasdale’s roster to over 340 lawyers and over 300 staff professionals around the world.

Summit Hotel Properties, Inc. (NYSE: INN) (together with its consolidated subsidiaries, the "Company") today announced that it has amended the credit agreements for its $400 million revolving credit facility and three senior term loans totaling approximately $550 million to enhance overall flexibility and extend the financial covenant waiver period through March 31, 2022, unless terminated earlier at the Company's option.

Kayne Anderson NextGen Energy & Infrastructure, Inc. (the “Fund”) (NYSE: KMF) announced today that it has entered into a $50 million unsecured revolving credit facility (the “Credit Facility”) with a syndicate of lenders. The Credit Facility matures on February 25, 2022. The Credit Facility replaces the Fund’s $75 million unsecured revolving credit facility that was scheduled to mature on February 8, 2021.

Huntington Business Credit announced it closed new $30,000,000 credit facilities with GNS North America, Inc on December 31, 2020. Proceeds of the facility were used to refinance existing indebtedness and to provide ongoing working capital growth financing.

Within the past year, the United States Department of Agriculture (USDA) invested a record $40 billion in rural communities. With considerable investments made to help bolster local economies in rural America, North Avenue Capital (NAC), a specialized commercial lender, was instrumental in providing over $130 million in USDA-backed loans to their clients across the United States.

Epiq, a global technology-enabled services leader to the legal services industry and corporations, released its January 2021 bankruptcy filing statistics from its AACER bankruptcy information services business. January experienced the lowest monthly number of new bankruptcy filings across all chapters since February 2006 (26,617 filings) with only 32,298 filings. The continued slide represents a decrease of 6% over December 2020 filings, and a 44% decrease over January 2020 filings where there were 58,161 new cases. Commercial filings across all chapters fell to 2,124 new cases, a 7% drop over December 2020 and a 42% drop over January 2020, which had a total of 3,560 new cases.

Magnite plans to finance the transaction with cash on hand, 14 million shares issued to RTL Group and committed financing from Goldman Sachs. The company expects the transaction to close in the second quarter of 2021, subject to receipt of regulatory approvals and satisfaction of customary closing conditions. Until the transaction closes, both companies will continue to operate independently. Goldman Sachs and LUMA Partners acted as financial advisors to Magnite and Goldman Sachs is providing committed financing for the transaction. Gibson Dunn provided legal counsel to Magnite.

A&G Real Estate Partners is offering a distribution center and two big-box stores slated to close as part of the Stock + Field bankruptcy. The 57-year-old retailer is currently liquidating all 25 of its stores across the Midwest. Located in Illinois, Michigan and Wisconsin, the three fee-owned properties are available for sale or lease, noted Emilio Amendola, Co-President of A&G, which was retained by the entities that own the sites. “These high visibility commercial and industrial real estate assets represent an excellent opportunity for both users and investors,” he said.

GBC has created a reputation as the preferred ABL partner to private equity groups. This is due to its ability to support fast-moving acquisition and growth opportunities, while having the unique ability to structure transactions that benefit the interests of all parties involved. That’s why, when CriticalPoint Capital needed acquisition financing support, GBC was the natural fit. CriticalPoint Capital is a Los Angeles-based operationally focused private equity firm specializing in corporate divestitures, companies in transition and special situations

GoldenTree Asset Management ("GoldenTree"), a global credit manager, announced the closing of $725 million in commitments on a second CLO strategy ("GLM II") as part of its GoldenTree Loan Management ("GLM") program. GoldenTree previously raised $600 million in 2016 for the first vintage of the strategy.

Doering has 15 years of commercial banking experience serving primarily family businesses and closely held companies of all sizes with an emphasis on construction, manufacturing/distribution, and service organizations. Fellows has more than 20 years of banking experience. As Senior Vice President – Treasury Management Market Leader in Madison, Melissa Fellows, CTP, leads our Madison team to deliver First Business Bank’s full suite of banking solutions.

Morgan Lewis is adding regional strength to its 110+ strong global finance team with the addition of partner Mark Kirsons, who joins from Sidley, where he also previously served as a co-leader of its Global Finance group, and will be resident in Chicago. Mark is recognized for his lender-side practice, representing banks, financial services companies, and private equity funds, many of which Morgan Lewis already serves in its US East and West coast offices and in the United Kingdom.

Sixth Street Specialty Lending, Inc. (NYSE: TSLX) (“TSLX” or “the Company") announced today that it has increased its Revolving Credit Facility (the “Facility”) from $1.335 billion to $1.485 billion and extended the final maturity date by over one year on $1.390 billion of commitments to February 4, 2026. The Facility was led by Truist Securities, Inc., JPMorgan Chase Bank, N.A. and MUFG Union Bank, N.A. as joint lead arrangers and includes a total of 20 bank participants.

Horizon Global Corporation (NYSE: HZN), one of the leading manufacturers of branded towing and trailering equipment, today announced the closing of an attractive new financing agreement with Atlantic Park Strategic Capital Fund, L.P. (“Atlantic Park”). The six-year agreement addresses all of the Company’s near-term maturities, provides long-term stability to its capital structure and offers the financial flexibility necessary to pursue its strategic initiatives.