TSL Express Daily Articles & News

Stifel Financial Corp. (NYSE: SF) today announced five senior hires within its European Fixed Income division. Matt Smith, Cedric Beaumont, Christopher Greenwood, Andrew Oliver, and Chris Spear have all joined Stifel’s Fixed Income Group and are based in various locations throughout Europe. The team will strengthen the group’s global presence and further augment Stifel’s growing Leveraged Loans and GBP franchises.

Pyxus International, Inc. ("Pyxus" or "the Company") (OTC Pink: PYXSQ), a global value-added agricultural company, announced today that on July 20, 2020, the Prepackaged Plan of Reorganization of Pyxus International, Inc. and its Affiliated Debtors (the "Prepackaged Plan") was overwhelmingly approved by each class of creditors entitled to vote. Of those that submitted ballots, holders of 100% of first lien notes (holding over $266 million of principal) and over 99% of the second lien notes (holding over $524 million of principal) voted in favor of the Prepackaged Plan.

Lighthouse Financial Corp. is pleased to announce the completion of a $5,000,000 credit facility for a North Carolina-based distributor of high quality plumbing and HVAC products. For more than 100 years, the company's brand has represented innovative commercial and industrial valves and HVAC grilles, registers, and diffusers built with confidence and quality.

Gordon Brothers, the global advisory, restructuring, and investment firm, announced that Mosana Khan has been honored as a recipient of its 40 Under 40 Award for 2020 by the Secured Finance Network.

Crestmark secured a total of $7,703,300 in ABL financial solutions for seven new clients; Crestmark Equipment Finance provided $16,946,772 in three new lease transactions; Crestmark Vendor Finance provided $7,799,845 in 98 new lease transactions; the Joint Ventures Division provided $9,067,872 in financing to one new client; and the Government Guaranteed Lending group provided $1,940,000 in financing for three new clients in the first half of July.

Ascena Retail Group, Inc. (Nasdaq: ASNA) (“ascena” or the “Company”), a leading national specialty retailer for women’s and girls’ apparel, and SB360 Capital Partners, one of North America’s leading asset disposition specialists, today announced the commencement of store closing sales in all Catherines stores, a significant number of Justice stores, and a select number of Ann Taylor, LOFT, Lane Bryant and Lou & Grey stores. This includes all stores across brands in Canada and Puerto Rico. The Company has engaged SB360 Capital Partners as its consultant to conduct the sales at most of the locations.

1847 Holdings LLC (OTC: EFSH), a publicly traded holding company platform that combines the attractive attributes of private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, announced today that its subsidiary Asien’s Appliance, Inc. has closed a secured $400 thousand revolving credit facility with Arvest Bank of Conway, AR.

WellSky, a global health and community care technology company, and TPG Capital, the private equity platform of alternative asset firm TPG, announced today they have entered into a definitive agreement to add Leonard Green & Partners, L.P. (LGP), a private equity firm, as a new capital partner. As part of the transaction, TPG Capital will make a new equity investment in WellSky. The partnership creates a new capital structure for the company and will accelerate WellSky’s long-term mission of realizing care’s potential across the continuum.

J.P. Morgan Asset Management (NYSE: JPM) and Hazeltree, the leading provider of cloud-based treasury solutions for investment managers, have partnered to deliver a unique and integrated cash and liquidity management platform to private equity, private credit, real estate and infrastructure funds. J.P. Morgan Asset Management clients are now able to access Hazeltree’s technology to effortlessly manage multi-bank relationships across their entire fund structures and seamlessly access J.P. Morgan’s liquidity products

CVC Credit Partners ("CVC Credit") is pleased to announce that it has closed Apidos XXXIII, a Collateralized Loan Obligation ("CLO") fund totalling $400 million. This is the second CLO fund CVC Credit has closed in the last month, following the closing of Cordatus XVII in June. Adipos XXXIII, was arranged by Goldman Sachs and is CVC Credit's second new-issue to close in the U.S. in 2020. As with previous Apidos CLOs, the fund is primarily comprised of broadly syndicated First Lien Senior Secured Loans.

Global Eagle Entertainment Inc. announced that it has agreed upon a definitive “stalking horse” asset purchase agreement under which substantially all of the Company’s assets will be acquired for total consideration of $675 million by an entity established at the direction of holders of approximately 90% of the Company’s senior secured first-lien term loans, led by lenders managed by Apollo Global Management, Inc., Eaton Vance Management, Arbour Lane Capital Management, L.P., Sound Point Capital Management, Mudrick Capital Management, or one or more of their respective affiliates, and certain funds and accounts under management by BlackRock Financial Management, Inc. Latham & Watkins LLP is serving as the Company’s legal counsel. Greenhill & Co., Inc. is serving as the Company’s financial advisor and Alvarez & Marsal is serving as the Company’s restructuring advisor.

Mike Colloton, Vice President – Business Development Officer, announced a closed and funded turnaround financing deal involving a $5,720,000 revolving line of credit facility and real estate term loan for a distributor of electric motors in Illinois. Michael Doyle, Vice President – Business Development Officer, announced a closed and funded refinance deal involving a $6,080,000 revolving line of credit facility, equipment term loan, and real estate term loan for a manufacturer of coaxial cables in Mississippi.

Encina Business Credit, LLC (EBC) announced today that it has provided a $70 million senior secured revolving credit facility to a leading national processor and distributor of branded and private label milk. The revolver was provided to help finance the acquisition of the company and to provide ongoing working capital financing. The facility consists of a senior secured revolving line of credit based on accounts receivable and inventory.

Stenn recently concluded a seven-figure trade receivables finance program for a US importer of hands-free hand sanitizing stations from a manufacturer based in Europe. The importer sells the devices for use in hotels, office buildings, retail locations and other public spaces to accommodate safe personal interaction in the recovery from the Covid-19 pandemic.

Southern Energy Corp. ("Southern" or the "Company") (TSXV: SOU), an established natural gas and oil producer with U.S.-based assets, today announces that Southern Energy Corporation (Delaware), a wholly-owned subsidiary of the Company, has completed the redetermination of its senior secured credit facilities (the "Credit Facility"). The Company and its lender have agreed to amend the Credit Facility effective as of July 20, 2020 pursuant to an Amended and Restated Credit Agreement (the "Agreement").

AKITA Drilling Ltd. (the "Company") announces it has entered into an amending agreement to its December 19, 2018 credit facility agreement (the "Amended Facility") with a syndicate of lenders comprised of ATB Financial, The Bank of Nova Scotia, HSBC Bank Canada and the Toronto-Dominion Bank (the "Lenders").

Hilco Redevelopment Partners (HRP)--the real estate development unit of Hilco Global that remediates and redevelops complex and obsolete industrial properties--announced today that Jasmine E. Sessoms has joined the company’s Philadelphia office as Senior Vice President of Corporate Affairs. A lifelong Philadelphian who was born and raised in the Point Breeze section of Philadelphia, Sessoms will oversee the company’s community and government outreach efforts as HRP executes on its plan to clean up and transform the former PES refinery site into a state-of-the art, multi-modal logistics campus.

Bryant Park Capital ("BPC"), a leading middle-market investment bank, announced today that ProMed Capital Ventures, LLC ("ProMed" or the "Company"), a leading provider of financing to medical practices and facilities in the United States, has been sold to Experity Ventures, LLC, the parent company for several specialty finance and legal funding related services businesses in the United States, including Nexify Holdings, Medsolve Financial Group, and Thrivest Legal Funding, LLC dba Thrivest Link. The financial terms of the transaction were not disclosed. BPC served as exclusive financial advisor to ProMed.

Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the close of a $20 million senior secured credit facility with Horsburgh & Scott, a manufacturer of mission critical, custom engineered gears and gearboxes utilized in heavy industrial machinery. The capital provides Horsburgh & Scott with additional liquidity to support their growing platform. The tailored facility includes a traditional term loan, as well as a revolver and delayed draw term loan.

Comvest Credit Partners (“Comvest”) has acted as Co-Lead Arranger and Lender in providing a Senior Credit Facility (the “Financing”) to Seven Seas Water, a developer, owner and operator of critical water infrastructure. The Financing was used to support the acquisition by Morgan Stanley Infrastructure Partners and refinance certain existing debt.