TSL Express Daily Articles & News

Ahold Delhaize today announces that it has successfully closed a €1 billion, Sustainability-linked Revolving Credit Facility (the ‘Facility’), refinancing its existing 2015-dated €1 billion facility. The Facility is an important milestone that highlights how Ahold Delhaize is reinforcing the alignment of its funding strategy and its commitments laid out in its Healthy & Sustainable ambition. ABN AMRO and Société Générale acted as Coordinators and Sustainability Coordinators on the Facility.

Audax Private Debt and Adams Street Partners, as Joint Lead Arrangers, provided a unitranche credit facility to support Freeman Spogli’s acquisition of US Med-Equip (“USME” or the “Company”), a value-added distributor and rental provider of movable medical equipment. Varagon Capital Partners and Madison Capital Funding, as joint syndication agents, and Willow Tree Credit Partners also supported the financing. Audax Private Debt also served as Administrative and Collateral Agent.

Piper Sandler Companies (NYSE: PIPR), a leading investment bank, today announced that it has entered into a definitive agreement to acquire TRS Advisors. TRS Advisors is an independent advisory firm focused on advising and executing restructurings, reorganizations and other complex financial transactions for public, private and governmental clients.

Carlson Capital, L.P. (“Carlson”), an alternative asset management firm, today announced that it reached a strategic agreement with Jefferies Group LLC (“Jefferies”) and structured credit investor Hildene Capital Management, LLC (“Hildene”) to support the new issuance of CLOs on Carlson’s Cathedral Lake platform. Under the terms of the agreement, Jefferies and Hildene will provide CLO equity capital to support the new issuance of four Carlson CLOs within the next three years. As strategic investors, Jefferies and Hildene will share in the growth of the Cathedral Lake CLO platform.

Earlier today, the Atlanta Hawks announced that it has agreed to refinance the construction loan for the Emory Sports Medicine Complex with a syndicate of Black-owned banks. The $35 million loan marks the first time a professional sports franchise has had a significant loan underwritten exclusively by Black banks. The groundbreaking transaction was facilitated with the support of the newly-formed National Black Bank Foundation, which organized a syndication team to structure the deal. Georgia-based Carver State Bank served as the syndicate’s Lead Arranger. By partnering with the Black bank syndicate, the Hawks are both demonstrating that Black banks can compete with money center banks for commercial loans as well as using the Club’s strong credit rating to bolster the capital cushion for Black banks so that they can better serve their traditional customer base.

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 senior credit facility and revolving line of credit to DCN Dx (or “the Company”), a lateral flow diagnostics developer. The proceeds are being used to support growth initiatives and were made alongside an equity investment in DCN Dx by Martis Capital, a private equity firm focused exclusively on the healthcare industry. Oxford Finance is the sole lead arranger and administrative agent in this transaction.

Assembled Brands announced it provided a new $1 million senior secured credit facility with Ranch Rider Spirits Co. a high-quality, health-focused, canned tequila cocktail brand. Through this partnership, the Austin-based spirits company will be able to accelerate their growth profile through investments in supply chain, marketing, and logistics in 2021.

Venus Concept Inc. (“Venus Concept” or the “Company”) (NASDAQ: VERO), a global medical aesthetic technology leader, announced today that it has amended its existing revolving credit facility with City National Bank of Florida (“CNB”) and successfully refinanced its long-term debt obligations. Specifically, the Company secured a new loan with CNB in the aggregate amount of $50.0 million as part of the Main Street Priority Loan Facility established by the Board of Governors of the Federal Reserve System Section 13(3) of the Federal Reserve Act.

ADMA Biologics, Inc. (Nasdaq: ADMA) (“ADMA” or the “Company”), an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics, today announced an amendment to its existing senior secured term loan with Perceptive Advisors (“Perceptive”), which provides for an additional loan tranche of $15 million, increasing the total size of the credit facility to $100 million. The amended terms for the existing $85 million credit facility additionally provide for, among other things, a two-year extension of the interest only period through the duration of the credit facility now maturing in March 2024, at an unchanged borrowing rate of 11%.

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 $7.4 million senior credit facility and revolving line of credit to REACH LTC (“REACH” or “the Company”), a provider of short and long-term skilled care options. The proceeds are being used for general working capital and the acquisition of one skilled nursing facility located in Town and Country, MO containing 282 licensed beds.

Prestige Capital Finance, LLC recently delivered a $1.5 million factoring facility to a company that manufacturers and packages frozen treats for well-known food and beverage companies. The funds were used to expand this contract manufacturer’s product line.

Paladin Management, the fast-growing middle market advisory firm driving value-creation through financial and operational consulting services, is continuing to see sustained expansion in 2020 with the addition of industry expert, Anthony Horvat, a respected specialist in turning around and leading distressed and underperforming businesses.

Siena Lending Group LLC (“Siena”) announces the completion of a $21.5 million asset-based revolving line of credit for Arandell Corporation (“Arandell”). The facility was provided in conjunction with Saothair Capital Partners (“Saothair”) to fund the acquisition pursuant to a 363 sale of assets under Chapter 11, and for working capital needs to support future growth.

Wolters Kluwer Governance, Risk & Compliance (GRC) has signed an agreement to acquire eOriginal, a leading provider of cloud-based digital lending software, for approximately €231 million in cash. The acquisition extends GRC Compliance Solutions’ leading position in U.S. mortgage and loan document generation and analytics into the fast-growing digital loan closing and storage adjacency.

Capital Southwest Corporation (“Capital Southwest”) (Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it supported Mountaingate Capital’s (“Mountaingate”) investment in Acceleration Partners LLC (“Acceleration Partners” or the “Company”) with a senior secured first lien term loan and delayed draw facility, as well as a minority equity investment. Capital Southwest led the financing. East West Bank provided a revolver and was a minority co-lender in the term loan and delayed draw facility.

From the fourth quarter Phoenix Management “Lending Climate in America” survey results reveal a slow and choppy recovery after COVID-19. While the majority of lenders surveyed seem to believe economic recovery after COVID-19 to be slow and choppy, the outlook for the U.S. economy in the near-term steadily improves. The near-term grade point average (GPA) increased 33 percentage points to 2.05 from the Q3 2020 GPA of 1.72. The projected outlook for the U.S. economy in the long-term decreased slightly (by 17 percentage points) to 2.43 from the previous quarter’s results of 2.60.

Thoma Bravo, a leading private equity investment firm focused on the software and technology-enabled services sector, today announced the completion of its acquisition of AxiomSL, a leading provider of cloud-enabled risk management and regulatory solutions for banking, investment management, broker dealers and commodity trading institutions. Evercore acted as financial advisor and Weil, Gotshal & Manges LLP served as legal advisor to AxiomSL. Kirkland & Ellis LLP served as legal advisor to Thoma Bravo. Financing for the transaction was provided by Owl Rock Capital, Goldman Sachs Merchant Banking Division, PSP Investments Credit USA LLC and Harvest Partners, LP.

TAB Bank is pleased to announce it has provided a $1 million asset-based credit facility for a transportation company located in Michigan. The facility is based on a multi-year agreement and will provide for the company’s ongoing working capital needs. In addition to the revolving credit facility, TAB Bank also provided the company with $1.1 million in equipment financing.

Wingspire Capital has provided a $30 million senior secured credit facility to a leading manufacturer and distributor of specialty concrete production and handling equipment that are integral in the construction of large buildings, stadiums, roads, bridges and other infrastructure.

White Oak Healthcare Finance, LLC (“White Oak”) today announced it acted as administrative agent and sole lender on the funding of a $110 million senior credit facility secured by 9 skilled nursing facilities in Virginia. The total portfolio comprised over 1,000 beds.