TSL Express Daily Articles & News

eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, today announced the company has funded a $3 million factoring facility to a distributor of consumer electronics products. The company distributes electronics for top brands including Apple, Samsung, Google, Microsoft, Sony and more, both domestically and internationally, and chose eCapital’s Commercial Finance division to help support their business growth.

eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, today announced the company has provided $900,000 factoring facility to a veteran-owned temporary staffing agency that specializes in the placement of healthcare professionals for the U.S. government. The company chose eCapital’s Commercial Finance division because it required a lender that understood the government contracting business and could quickly scale according to its contract demands.

Walker & Dunlop, Inc. announced today that Walker & Dunlop Investment Partners, Inc. (WDIP), the company's wholly-owned alternative investment manager focused on middle-market commercial real estate investments, has hired Michael Link as Director on WDIP's Capital Formation team. Mr. Link will be based out of the firm's Denver, Colorado headquarters and will be responsible for marketing and fundraising efforts as WDIP continues to build a diversified suite of private equity and debt strategies.

Varagon Capital Partners (Varagon) today announced it is serving as Administrative Agent, Joint Lead Arranger and Bookrunner on a senior secured credit facility to support the acquisition of US HealthConnect (USHC) by investment funds managed by Morgan Stanley Capital Partners (MSCP).

Kane Biotech Inc. (TSX-V:KNE; OTCQB:KNBIF) (“Kane Biotech”) today announced that it has entered into a one year credit agreement (the “Credit Agreement”) with Pivot Financial Inc. (“Pivot”) for a non-revolving term loan in the aggregate amount of $1,480,000.00 (the “Credit Facility”).

Solar Capital Ltd. (NASDAQ: SLRC) (the “Company” or “Solar Capital”) announced that on November 3, 2020, it acquired a majority stake in Kingsbridge Holdings LLC ("Kingsbridge") from TZP Capital Partners II, LP and its affiliates and the Kingsbridge management team. Kingsbridge, based in Lake Forest, Illinois, is a leading independent lessor of information technology, industrial, healthcare, and commercial essential-use equipment to a diverse set of high credit quality customers. With the acquisition, Solar Capital will have invested approximately $216 million, in a combination of approximately $136 million of equity and $80 million of debt, to acquire 87.5% of Kingsbridge in partnership with the Kingsbridge management team which is rolling a portion of their equity ownership as part of the transaction.

Epizyme, (Nasdaq: EPZM), a fully integrated, commercial-stage biopharmaceutical company developing and delivering novel epigenetic therapies, today announced that the company has entered into an amended and restated agreement with funds managed by Pharmakon Advisors, LP, an affiliate of Royalty Pharma, to expand its loan facility and plans to draw down $150 million. Epizyme and Pharmakon Advisors originally executed their agreement in November 2019, in conjunction with the company’s funding agreement with Royalty Pharma.

On October 27, 2020, the Company closed a new credit facility with Wells Fargo Bank and FGI Equipment Finance, LLC. The new credit facility is a combination of $31.7 million of new term loan capacity and $25.0 million of revolving loan capacity. Upon closing the new credit facility, the Company borrowed $30.0 million of term loans and $8.7 million of revolving credit loans to repay its existing credit facility and pay transaction fees.

Franklin Capital, a leading finance company, dedicated to helping small to medium-sized businesses meet their cash flow needs, is pleased to announce our participation in the SFNet’s 76th Annual Convention, the largest gathering of secured finance professionals, November 17-19, 2020.

Hertz Global Holdings, Inc. ("Hertz" or "The Company") (OTCPK: HTZGQ) today announced that it has secured commitments for fleet financing totaling $4 billion and has filed a motion for approval of The Hertz Corporation entering into the documentation for the financing by the U.S. Bankruptcy Court for the District of Delaware. Upon approval, and together with the up to $1 billion of Hertz's debtor-in-possession financing that may be used for equity in the fleet financing subsidiary, Hertz will have access to up to $5 billion in total funding to support its fleet financing needs. Moelis & Co. is serving as investment banker, FTI Consulting is serving as Hertz's financial advisor and White & Case LLP is serving as Hertz's legal advisor.

Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce the expansion of total commitments under its revolving credit facility (the "Credit Facility") from $740.0 million to $780.0 million. The $40.0 million net increase in total commitments was the result of the addition of a new lender relationship, which further diversifies the Main Street lending group under the Credit Facility to a total of nineteen participants. The recent increase in total commitments was executed under the accordion feature of the Credit Facility, which allows for an increase up to $800.0 million in total commitments under the facility from new and existing lenders on the same terms and conditions as the existing commitments.

Crestmark secured a total of $11,018,800 in ABL financial solutions for seven new clients; Crestmark Equipment Finance provided $3,759,627 in two new lease transactions; Crestmark Vendor Finance provided $6,249,333 in 73 new transactions; the Government Guaranteed Lending group provided $2,420,000 in financing for two new clients in the second half of October.

U.S. News & World Report and Best Lawyers®, for the eleventh consecutive year, announce the "Best Law Firms" rankings. Moritt Hock & Hamroff has been ranked in the 2021 U.S. News - Best Lawyers® "Best Law Firms" list nationally in 1 practice area and regionally in 1 practice area.

B. Riley Advisory Services, a specialty financial advisory services firm and subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), today announced the opening of an office in Mexico. B. Riley Advisory Services de Mexico. S. de R.L. ("B. Riley Advisory Services de Mexico") will be led by Gaston Mauvezin, a seasoned executive with 20+ years of leadership experience at firms in the Automotive, Financial Services, Real Estate, Agribusiness, Industrial and Consumer markets in Argentina, Brazil and Mexico.

Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A. and its HSA Bank division, is pleased to announce that Executive Vice President Jonathan W. Roberts has been promoted to Head of Retail Banking and Consumer Lending at Webster Bank and Webster Financial Corporation. In his role, he will oversee retail operations and the banking center network, and will lead core consumer products and services, including small business banking. Roberts will report directly to Chairman, President and CEO John R. Ciulla.

Udacity, a Mountain View, CA-based global online learning platform educating workers for the careers of the future, signed a $75m debt facility with Hercules Capital (NYSE: HTGC). The company intends to use the funds to continue to expand operations and its business reach.

WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced the expansion of its Commercial Banking team in the Greater Philadelphia area as part of its strategic plan to invest in talent and build long term value. The team joining WSFS Bank is Kevin J. Beaford, Jr., Patrick Fisher, Graham R. Palusky, and Brian Quach. Fisher will lead the group, which brings more than 40 years of combined experience to WSFS. He will report directly to Steve Clark, Executive Vice President, Chief Commercial Banking Officer.

BlackRock Capital Investment Corporation (NASDAQ: BKCC) ("BCIC" or the "Company") announced today the appointments of Nik Singhal as President, effective November 3, 2020, and Abby Miller as Chief Financial Officer and Treasurer, to be effective as of November 9, 2020, at which time Michael Pungello, Interim Chief Financial Officer and Treasurer will step down from those posts. The Company also announced the planned retirement of Mr. Pungello from BlackRock in March 2021. Mr. Pungello will serve in an advisory role until then.

Mr. Needs joins the growing HRP organization and will be a vital addition to the new urban mixed-use development team. Mr. Needs will join Melissa Schrock, who was recently brought on to lead the team, and together, they will be responsible for managing several exciting projects currently underway, including L Street Station in Boston, Massachusetts and Campus Bay in San Francisco, California, among other significant projects throughout the country. He will be based on Boston, MA.

Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $3,000,000 to a staffing solutions firm located in New York, NY. The transaction was originated by Robert Mocerino, a Managing Director located in Jericho, NY.