TSL Express Daily Articles & News

SAExploration Holdings, Inc. (“SAE” or the “Company”) announced today that it has successfully completed its financial restructuring and emerged from Chapter 11 as a private, non-SEC reporting company. As a result of its plan of reorganization, which received broad support from its creditors, the Company has reduced its debt by approximately $74 million, net, thus positioning the Company for future growth. Porter Hedges LLP acted as legal counsel and Imperial Capital, LLC and Winter Harbor LLC acted as financial advisors to SAE in connection with its restructuring efforts. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the ad hoc group of certain consenting creditors in connection with the Chapter 11 cases.

Matrix Capital Markets Group, Inc. (“Matrix”), a leading independent investment bank, announces that Tri Gas & Oil Co., Inc. (“Tri Gas & Oil”) and Comfort Plus Services, LLC (“Comfort Plus Services” or “CPS”) or (collectively, the “Company”) has acquired a leading Delmarva Peninsula based refined fuels distributor and HVAC services business. Tri Gas & Oil, and its predecessor entities, have been delivering fuel and providing high levels of customer service throughout the Delmarva Peninsula since the late 1950’s.

SouthCrest Bank, a division of SouthCrest Financial Group (SCSG: PK) announces the appointment of well-known and respected 15 year banking veteran Teresa Baker as Senior Vice President and Relationship Manager. Her appointment is another key step in SouthCrest Bank’s strategy to become a dominant private business bank for the Atlanta MSA.

PGIM Private Capital has completed fundraising for PGIM Capital Partners VI, L.P., surpassing its fundraising target with capital commitments of $2.23 billion. PGIM Capital Partners VI is more than 20% larger than Fund V, which closed in 2016. PGIM Private Capital is a leading source of private debt for public and private companies and is the private capital arm of PGIM, the $1.4 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).

Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the investment in Relevate Health Group Inc. (“Relevate”) by private equity sponsor Mountaingate Capital and Relevate’s strategic combination with Arteric. Based in Cincinnati, Ohio, Relevate is a data-driven marketing products and services communications firm.

Bridge Bancorp, Inc. (Nasdaq: BDGE) (“Bridge”), the parent company of BNB Bank, and Dime Community Bancshares, Inc. (Nasdaq: DCOM) (“Dime”), the parent company of Dime Community Bank, today jointly announced that the parties have received approval from New York State Department of Financial Services to merge Dime Community Bank with and into BNB Bank. The merger is expected to close on February 1, 2021, on which day the combined company will open as the new Dime Community Bank.

Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $2,500,000 to a nationwide talent management company. Sterling National Bank is one of the leading providers of financing and administrative services for staffing and IT consulting firms nationwide.

CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced a strategic addition to its national Restructuring and Dispute Resolution practice, extending its footprint in the Southwest and expanding its Houston office. Three professionals from Crossroads Strategic Advisors, a respected Houston-based advisory firm founded by Jeff Anapolsky to provide recapitalization and restructuring strategies to middle market companies, are joining CohnReznick.

JPMorgan Chase & Co. named James Roddy as global head of corporate client banking and specialized industries in its commercial banking unit. Roddy, previously co-head of diversified industries investment banking, will report to Doug Petno, chief executive officer of JPMorgan’s commercial bank. The commercial bank, JPMorgan’s smallest line of business by revenue, offers deal advice, treasury services and lending to companies that make up to about $2 billion in revenue. The change was announced in a memo to staff Wednesday and confirmed by a spokeswoman.

Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent purchase order finance facility to support the production financing requirements of a Florida-based minority-owned government contractor.

Rubenstein Partners, L.P., a vertically-integrated real estate investment adviser focused on value-added office opportunities (together with its affiliates, "Rubenstein"), has refinanced Pennant Park, a 6-building office park in Atlanta's Northwest submarket, with a $114 million loan facility provided by Nuveen Real Estate. This transaction comes after the substantial completion of Rubenstein's business plan for the property, which involved approximately $17 million of improvements aimed at transforming the property into a walkable Class-A urban office environment with immediate access to Truist Park, home of the Atlanta Braves, and a growing set of local amenities both on and off campus.

Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, announced today the addition of two tenured Commercial Banking executives to support the company’s strategic expansion efforts.

Team, Inc. (NYSE: TISI) a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced the signing of a new $250 million Senior Secured Term Loan due 2026 (the "Term Loan") led by Atlantic Park Strategic Capital Fund, L.P. ("Atlantic Park"). Atlantic Park acted as administrative agent. Concurrent with the signing of the Term Loan, TEAM executed a new $150 million Senior Secured ABL Credit Facility due 2024 (the "ABL Credit Facility") led by Citibank, N.A.

Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) is pleased to announce that it has entered into a credit agreement with a syndicate of banks, comprised of Bank of Montreal, as Joint Bookrunner, Co-Lead Arranger and Administrative Agent, CIBC, as Joint Bookrunner and Co-Lead Arranger, and BNP Paribas, as Co-Lead Arranger in connection with a secured US$200 million debt facility (the “Loan Facility”). The Loan Facility is comprised of a US$100 million term loan (the “Term Facility”) and a US$100 million revolving facility (the “Revolving Credit Facility”).

Wells Fargo & Company (NYSE: WFC) today announced that Michelle Moore will join the company as Digital Platform leader, effective Dec. 31, 2020. She will report to Ather Williams III, head of Strategy, Digital and Innovation, and will be based in Charlotte, North Carolina.

Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced that on December 18, 2020 it renewed its two-year revolving credit agreement with Citibank, N.A. Loans under the renewed credit agreement will be secured by automobile receivables that CPS now holds, will originate directly, or will purchase from dealers in the future. CPS may borrow on a revolving basis through December 18, 2022, after which CPS will have the option to repay the outstanding loans in full or to allow them to amortize for a one-year period.

Rent-A-Center has obtained $1.825 billion in debt financing commitments from J.P. Morgan Securities LLC, Credit Suisse and HSBC Securities (USA) Inc., in connection with the transaction, subject to the terms and conditions of the respective commitment letters. J.P. Morgan Securities LLC is serving as lead financial advisor; Credit Suisse is serving as an additional financial advisor and Sullivan & Cromwell LLP is serving as legal counsel to Rent-A-Center. FT Partners is serving as sole strategic and financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Acima.

Fifth Third Business Capital announced it has arranged a new revolving credit facility for HB&G Building Products, Inc. The Deal Team consisted of Ron Kerdasha, Senior Vice President, Business Development; Jeff Seiden, Senior Vice Presiden, Underwriting and Jeffrey Much, Vice President, Portfolio Management.

Huntington Business Credit announced it closed a new $15,000,000 credit facility with The Miller Company on December 15, 2020. Proceeds of the facility were used to support the acquisition by Deutsche Invest Capital Partners and to provide ongoing working capital growth financing.

J D Factors announced it provided the following factoring facilities: $120,000 to a transportation company in Virginia; $300,000 to a transportation company in Alberta; $150,000 to a transportation company in Texas.