TSL Express Daily Articles & News

Nomad Royalty Company Ltd. ("Nomad" or the "Company") (NSR.TO) (NSRXF) is pleased to announce that it has entered into an agreement with The Bank of Nova Scotia ("Scotia"), Canadian Imperial Bank of Commerce ("CIBC") and The Royal Bank of Canada ("RBC") for a $US50 million revolving credit facility ("Facility") with the option to increase to US$75 million , subject to satisfaction of certain conditions.

Jay Coogan—a well-known attorney who advises clients in mergers and acquisitions, private equity transactions, securities offerings, capital financings, and corporate governance matters—has joined Ballard Spahr as a partner in the Business and Transactions Department, Firm Chair Mark Stewart announced today.

Sterling Bancorp (NYSE: STL) announced that its principal subsidiary Sterling National Bank (“Sterling”) is introducing its new Banking-as-a-Service (“BaaS”) program, which provides a wide range of customized products, payment and back office capabilities for FinTech and other non-bank institutions. The launch of BaaS aligns with Sterling’s continued focus on developing innovative solutions for small and middle market enterprises and working with leading technology solutions companies to produce world-class digital capabilities.

Seacoast Banking Corporation of Florida (NASDAQ: SBCF) (the “Company” or “Seacoast”) today announced it has hired Austen Carroll as executive vice president and chief lending officer. In his newly-created role, Carroll will lead the commercial banking division at Seacoast. Additionally, Julie Kleffel, the Company’s current community banking executive and central Florida market president has been promoted to chief banking officer of the Company.

Gordon Brothers, the global advisory, restructuring and investment firm, has appointed Samantha Findley to be Director, Special Situations in Australia. Findley will help clients to use the strength of the Gordon Brothers balance sheet and the company’s expert knowledge to resolve liquidity issues and execute restructuring programs. Findley brings more than 15 years of experience as a workout banker, restructuring and insolvency professional and client advisor. In her new role, she will steer clients through some of their most mission-critical operational challenges and lead deals from initial concept and origination, to final execution and portfolio management.

Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, announced that it has renewed and expanded its senior secured credit facility for Mersino Management, providing an additional $5.1 million of borrowing capacity. Mersino is a leading provider of pumping and dewatering services. The increased borrowing capacity provides Mersino 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.

A&G Real Estate Partners (A&G) has begun marketing 137 Modell’s Sporting Goods store leases in nine Northeastern and Mid-Atlantic states and the District of Columbia in connection with the 111-year-old retailer’s voluntary Chapter 11 bankruptcy filing and liquidation.

A&G Real Estate Partners, working on behalf of Neiman Marcus Group in the retailer’s bankruptcy proceedings, is marketing four luxury department store leases in California, Washington, Florida and Washington, D.C. Offering long-term, multiple-option leases, the buildings are situated in prime, high-visibility retail districts or shopping centers, said Emilio Amendola, Co-President of Melville-based A&G, which provides real estate advisory services to many of the nation’s most prominent retailers and corporations in both healthy and distressed situations.

In the midst of the Covid-19 pandemic and uncertain economic forecast, Concord Financial Advisors, LLC announces the closing of four senior debt transactions in the second quarter of 2020.

Startek Inc. (NYSE:SRT), a global provider of customer experience management solutions, has entered into an amendment agreement for its senior term loan and revolving credit facility. As part of the amended and restated facility agreement signed by one of its wholly owned subsidiaries, Startek has agreed to accede to the facilities agreement as an additional guarantor. The agreement continues to provide for a $140 million term loan facility along with a $20 million revolving credit facility.

Accord Financial Corp. ("Accord Financial") today announced the launch of its participation in the Export Development Canada (EDC) Business Credit Availability Program (BCAP) Guarantee. The EDC BCAP Guarantee provides eligible small and medium sized companies with loans of up to $6.25 million.

RTW Retailwinds, Inc. [OTC PINK:RTWI], an omni-channel specialty apparel retail platform for powerful celebrity and consumer brands, today announced that it and its subsidiaries (collectively, the “Company”) have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey (the “Bankruptcy Court”). The Company has filed customary motions with the Bankruptcy Court that will authorize, upon Bankruptcy Court approval, the Company’s ability to maintain operations in the ordinary course of business, including, among other things, the payment of employee wages and benefits without interruption, payment of suppliers and vendors in the normal course of business, and the use of cash collateral.

Maxim Commercial Capital is pleased to report it funded hard asset-secured financings for small and mid-sized businesses (SMBs) in 30 states across the United States during the second quarter of 2020. After pivoting quickly in March to safer-at-home working conditions for its 30+ team members, Maxim experienced a steady increase in applications from equipment brokers and vendors for their borrowers with challenged credit.

Huntington Business Credit announced it closed a new $10,500,000 credit facility with Midwest Iron and Metal Company LLC on May 29, 2020. Midwest Iron and Metal Company LLC is owned by Merit Capital Partners, a private equity firm based in Chicago, Illinois. Proceeds of the facilities were used to refinance existing debt and provide ongoing working capital growth financing.

Siena announced $45M in new facilities. Siena Lending Group continues to be a leader in the asset-based lending industry, consistently finding creative ways to offer our clients maximum flexibility and liquidity. We are proud to provide this overview of the financing solutions that Siena and our Siena Healthcare Finance division delivered in Q2 2020. In firm news, we are excited to share two strategic moves to further grow and strengthen our team. Siena closed two deals for $25 million in the pharmaceuticals and beauty industries.

Hollywood Bed & Spring Mfg. Co., Inc., ("Hollywood" or the "Company") has acquired the Linwood Hospitality division ("Linwood") from Leggett & Platt, Inc. to become the leading supplier of bedding support products to the hospitality and contract markets. FocalPoint Securities, LLC ("FocalPoint") served as exclusive investment banker to the Company.

A Haynes and Boone, LLP deal team represented Austin-based AYRO, Inc. (Nasdaq: AYRO), a manufacturer of light-duty, emissions-free electric vehicles, in a $15 million registered direct offering of its common stock, which closed July 9, 2020. Founded in 2017, AYRO designs and manufactures compact, sustainable electric vehicle solutions for urban and community transport, local on-demand and last-mile delivery, closed-campus mobility, and government use.

Bed Bath & Beyond Inc. plans to close approximately 21% of its namesake stores, or 200 locations, over the next two years, the company announced Wednesday. The New Jersey-based home goods retailer, which also operates buybuy Baby, Harmon Face Values and World Market, said the closing stores would "mostly" be Bed Bath & Beyond stores during an earnings call with analysts.

Crestmark secured a total of $16,416,610 in ABL financial solutions for 14 new clients; Crestmark Equipment Finance provided $14,362,914 in four new lease transactions; Crestmark Vendor Finance provided $21,028,090 in 273 new lease transactions; and the Government Guaranteed Lending group provided $6,178,000 in financing for three new clients in the second half of June.

Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company") announced today that the Company, through certain of its subsidiaries, entered into a financing transaction with a syndicate of regional banks led by BOK Financial and borrowed an aggregate of $88 million secured by six (6) properties that are leased to Whirlpool Corporation, a Fortune 200 company with a Moody's credit rating of Baa1.