TSL Express Daily Articles & News

SG Credit Partners provided a $2.1 million unitranche loan to a sponsor-backed e-tailer of aftermarket auto parts focused on a niche of the broader aftermarket industry. The Company sells through its Company-owned DTC eCommerce channel as well as through 3rd party marketplaces.

Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the completion of a CAN$10 million senior secured revolving credit facility with Smart Employee Benefits, Inc. ("SEB"), a Canadian-based technology company that builds, customizes, implements, integrates, and manages data-processing solutions.

Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded two new revolving accounts payable funding facilities in November. One for $750M to a manufacturer of indoor/outdoor specialty lighted signage and another for $1.5MM to an automotive lighting and component manufacturer.

Gemino Healthcare Finance announced it provided a $44 million asset-based revolving line of credit in December 2020.

Vanessa Lopez was appointed VP, Controller, at Axiom Bank, N.A., a Maitland-based, leading community bank. Lopez brings nearly two decades of experience in accounting and banking to her new role.

Siena Lending Group LLC (“Siena”) is pleased to announce the closing of a $17.5 Million asset-based credit facility with a California-based Tire Company (“TireCo” or the “Company”). The two-year revolving credit facility was used to refinance existing debt and provide additional working capital to support business growth.

Lundin Energy AB (the ‘Company”) is pleased to announce that is has successfully completed the refinancing of its existing secured USD 4.75 billion Reserves Based Lending facility (“RBL”) and other corporate facilities, into a new, lower margin USD 5 billion five-year corporate facility, (the “Facility”).

Findings from a new survey show Chief Financial Officers ("CFOs") are taking on greater strategic and enterprise-building roles after guiding their organizations through the challenges of COVID-19. CFO Research of Argyle Advisory & Research Services and FTI Consulting, Inc. surveyed 325 corporate finance executives to better understand how CFOs and the finance function drive enterprise value. Five key themes emerged:

Liberty Hall was advised by Spurrier Capital Partners, while financing for the acquisition was provided by Ally Finance, Fidus Investment Corporation and RF Investment Partners. Legal advice to Liberty Hall was provided by Gibson Dunn & Crutcher. Comply365 was advised by AGC Partners. Legal advice to Luminate and Comply365 was provided by Kirkland & Ellis.

CytoSorbents Corporation (NASDAQ: CTSO) is a leader in blood purification to treat cytokine storm and deadly inflammation in life-threatening illnesses with its flagship product, CytoSorb. CytoSorb is approved in the European Union and distributed in 58 countries worldwide. (PRNewsfoto/CytoSorbents Corporation) CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat deadly inflammation in critically ill and cardiac surgery patients around the world, announces it has closed on the Third Amendment (the "Amendment") of its Amended Loan and Security Agreement with Bridge Bank.

Office tenants will be in tough negotiations with landlords for the next two years or more—and that means they need to be strategic about securing concessions that lower their occupancy costs, writes Andy Graiser of A&G Real Estate Partners (A&G) in a column for Commercial Property Executive. Fortunately, both landlords and their lenders are starting to show more flexibility in negotiations, writes Graiser, who has decades of experience in real estate lease restructurings, dispositions, valuations and acquisitions. “Office landlords around the country are confronting a stark choice—either shift into ‘workout mode’ or risk losing important tenants for good.”

DLL, global asset finance company for equipment and technology, has partnered with Northern Lite a manufacturer of high quality 4-season truck campers. Recreational vehicle dealers will now have the benefit and option of financing their Northern Lite inventory purchases with DLL anywhere in North America. Northern Lite is known throughout the RV industry for quality, workmanship, high-end fit and fiberglass finish on all products, including the new Boreal fiberglass travel trailer.

In September, SFNet issued an alert pertaining to CFPB Section 1071, requesting members respond to CFPB’s invitation to comment by December 14th. The measure could prove to be unduly burdensome to the vast majority of small and mid-sized finance companies that provide credit to small businesses. With the assistance of SFNet members serving on the 1071 Subcommittee, SFNet has submitted a comment letter requesting specific exemptions for relevant asset classes.

Regulatory compliance and risk concerns remain high in a number of key areas for U.S. banks and credit unions, according to the results of Wolters Kluwer’s 2020 Regulatory & Risk Management Indicator survey. This year’s survey, conducted by Wolters Kluwer’s Compliance Solutions business, generated a Main Indicator Score of 103, an eight-point increase over the 2019 score. This was influenced by concerns about managing regulatory change, mortgage-related regulations, and U.S. Coronavirus Aid, Relief, and Economic Security (CARES) Act requirements.

J D Factors announced it provided the following factoring facilities: $120,000 to a transportation company in Illinois; $1,500,000 to a transportation company in British Columbia; $200,000 to a transportation company in New Jersey' $100,000 to a transportation company in Ontario and more.

Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $1.3MM revolving A/R and inventory facility to a private equity owned Technology Manufacturing and Engineering Company. The Company’s ownership plans to grow and expand the business by leveraging shared relationships from the common ownership of their portfolio companies. As the equity group looks to expand its ownership of companies in the consumer goods market, they once again called on AFS - a tried and tested lending partner with a proven track record of providing customized and flexible financing solutions.

Wells Fargo Bank, National Association, Manufacturers and Traders Trust Company and Merrill Lynch, Pierce, Fenner & Smith Incorporated served as Co-Lead Arrangers and Joint Bookrunners on the amended credit facilities, which consist of a US$75 million term loan and a US$50 million revolver. The principal amount outstanding under the term loan was reduced from US$121 million to US$75 million in connection with the amendment to the credit facilities.

FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of seven professionals to its Health Solutions practice, including Senior Managing Directors James Fisher, Julie Kliger and Kevin McCadden, and Managing Directors Matthew Leshy, Juliana Malhotra, Patterson Shafer and Amy Showalter.

Uniti Group Inc. (“Uniti” or the “Company”) (Nasdaq: UNIT) announced today that it has entered into an amendment to its credit agreement that upsizes commitments from new and existing lenders under its senior secured revolving credit facility to $500 million. Under these commitments, the covenants have been revised to provide Uniti greater flexibility in pursuing its strategic initiatives, and, subject to certain conditions, the maturity date has been extended to December 10, 2024 with substantially improved pricing. Bank of America acted as Left Lead Arranger and Bookrunner on the transaction.

As the organization continues to build and grow its advanced technological platforms meeting client needs with innovative solutions, Accord Financial Corp., one of the U.S. and Canada's leading independent finance companies ("Accord") (TSX: ACD) announced two new members of the executive leadership. Barrett Carlson, Senior Vice President, Corporate Development, will oversee all aspects of the company's growth, development and marketing. Eric Starr, Senior Vice President, Program Operations and Risk, is spearheading Accord's strategic and digital transformation.