TSL Express Daily Articles & News

First Business Growth Funding, the Accounts Receivable Financing arm of First Business Financial Services, Inc., announces that Lana Fidelscaia was hired as Vice President - Business Development Officer.

Monroe Capital LLC (“Monroe”) today announced an increase in the credit facility to FATHOM to support the acquisition of GPI Prototype & Manufacturing Services (GPI). FATHOM is an existing portfolio company of CORE Industrial Partners.

Celtic Capital Corporation has expanded its client development staff with the addition of Bryan Hatfield and Jonathan Bloom; both Senior Vice Presidents.

As sale negotiations stall, attorneys for J.C. Penney said at a hearing Monday that key lenders were "dedicated" to supporting the retailer as an operating entity by converting their debt holdings into equity in a reorganized Penney.

J. Jill Inc. has just 10 days to get permission from the vast majority of its lenders for a deal that would extend the struggling retailer’s debt maturities, excuse it from financial covenants and give it fresh cash.

CIT Group Inc. (NYSE: CIT) today announced that its Asset-Based Lending business, part of the Commercial Finance division, served as joint lead arranger on a $150 million asset-based revolving credit facility for Steven Madden Ltd.

Latham & Watkins represented Xenia Hotels & Resorts, Inc. in the debut private offering of US$300 million of 6.375% senior secured notes due 2025 by XHR LP, Xenia’s operating subsidiary. Xenia, a REIT that invests primarily in uniquely positioned luxury and upper upscale hotels and resorts, owns 39 hotels across 16 US states.

Leonovus Inc., (“Leonovus” or the “Company”) (TSXV: LTV) announces that it plans to enter into a loan agreement with eleven shareholders, including two directors, (the “Lenders”) for a secured loan in the principal amount of up to CAD$445,000 (the “Loan”).

To ascertain the impact that Covid has had on lending to small businesses in America, SBAlenders.com conducted a study of SBA loan activity by analyzing data provided by the Small Business Administration (SBA). SBA loans, which are designed to be attractive for borrowers who cannot easily obtain a traditional commercial loan, have plummeted in the second quarter of 2020.

RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services through a network of 332 owned and/or operated outpatient imaging centers, today announced the amendment of its senior secured first lien credit agreement to increase the amount of the revolving commitments thereunder by $57.5 million.

Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HGI” or “the Company”), an asset services company specializing in financial and capital assets, today announced that Michael Goldstein has been promoted to Executive Managing Director, Head of Heritage Global Valuations (“HGV”), a division of Heritage Global Partners and a leading asset liquidation and appraisal firm.

King Trade Capital is pleased to provide financing to a California-based company that sells hand sanitizer and sanitizing wipes.

Celtic Capital Corporation today announced its most recent new client relationship – a California-based distributor and fabricator of sheet metal products and industrial supplies.

Weatherford International (collectively with certain of its subsidiaries, "Weatherford" or the "Company") today announced that it has refinanced its senior secured asset-based lending agreement (the "ABL Credit Agreement") through the issuance of $500 million of senior secured first lien notes.

Stonebriar Commercial Finance is pleased to announce the promotion of Harrison P. Smith to Vice President, Credit Manager.

Le Tote, Inc. and Lord & Taylor LLC (together with their respective subsidiaries, the “Company”), will commence Going Out of Busines Sales shortly at the historic brands’ 38 iconic stores and on www.lordandtaylor.com. Kirkland & Ellis LLP is acting as legal advisor to the Company and Berkeley Research Group, LLC is acting as restructuring advisor. Nfluence Partners is acting as the Company’s investment banker and a joint venture of Hilco Merchant Resources and Gordon Brothers are managing the Company’s store closing sales.

Nutanix (NASDAQ: NTNX), a leader in enterprise cloud computing, today announced that Bain Capital Private Equity will make an investment of $750 million in Convertible Senior Notes to support the Company’s growth initiatives.

Fortress Biotech, Inc. (NASDAQ: FBIO) (“Fortress”), an innovative revenue-generating company focused on acquiring, developing and commercializing or monetizing promising biopharmaceutical products and product candidates cost-effectively, today announced that it has entered into a $60 million loan agreement with funds managed by Oaktree Capital Management, L.P. (“Oaktree”), a leading global investment firm (the “Agreement”). The company expects the proceeds from the five-year loan will be used to refinance existing indebtedness. The loan will mature in August 2025.

King Trade Capital is pleased to provide financing to a California-based company that sells hand sanitizer and sanitizing wipes. Beginning in February, KTC underwrote and began providing PO financing for the import of hand sanitizer allowing the client to deliver an additional $40 million in sales to Walgreens, CVS and other stores during the peak of the Covid 19 pandemic.

Tradewind Finance has provided a $15 million credit facility to a 75-year-old manufacturer headquartered in Europe with a subsidiary in the USA. The supply chain finance company is an industry leader in international trade financing. The client sells globally and is using the facility to support 120-day open account payment terms.