TSL Express Daily Articles & News

White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced its Government Contracting Finance group provided an additional $4MM in factor-based credit facility funding to a Washington DC-based telecommunications contracting firm. White Oak’s partnership with the company began in 2003, and the additional funding was used to support the company’s continued growth.

Essential Energy Services Ltd. (TSX: ESN) (“Essential” or the “Company”) announces it has entered into an amending agreement to its June 26, 2018 credit facility agreement (together the “Amended Credit Facility”) with a syndicate of lenders comprised of National Bank of Canada, ATB Financial and Canadian Western Bank. The Amended Credit Facility provides Essential an extension of the maturity date of the revolving secured credit facility to June 30, 2022 along with revisions to certain terms and conditions.

Richard C. Kim, a corporate shareholder in the New York office of global law firm Greenberg Traurig, LLP, has been chosen as a recipient of the 2020 Secured Finance Network's (SFNet) 40 Under 40 Awards. Richard C. Kim, a corporate shareholder in the New York office of global law firm Greenberg Traurig, LLP, has been chosen as a recipient of the 2020 Secured Finance Network's (SFNet) 40 Under 40 Awards. According to SFNet, this global award recognizes "the best and brightest rising stars in secured finance."

Wolters Kluwer Lien Solutions has launched iLien for Main Street – a technology solution devoted to helping U.S. lenders optimize their due diligence and lien management efforts when securing loans for small and medium-sized businesses under the Main Street Lending Program (Program). The Program is part of the U.S. Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

TradeCap Partners recently facilitated the closing of a $350,000 Purchase Order Finance Facility for an importer of Paper Products based in Minnesota. The introduction was made to TradeCap through a factoring partner that had worked with the Company for close to a decade.

Bay Point Advisors announces it has provided a multi-tiered, senior secured debtor-in-possession loan (“DIP Loan”) to Hannah Solar, LLC. The funds will allow Hannah Solar to consolidate its existing secured debt and obtain the working capital necessary to fund its operations during its reorganization process.

Lincoln International is pleased to announce that The Araz Group, Inc. (d/b/a HealthEZ), a leading independent third-party administrator (TPA) of self-funded medical plans, has received an investment from Abry Partners LP, a private investment firm focused on investing in and building market-leading middle market businesses

National Bank of Commerce (NBC), has expanded its commercial banking team by repositioning Cammy Hansen to VP – Senior Commercial Banker. She has been with the bank for nine years and in her new role will be responsible for building relationships with commercial customers to help the local businesses and communities prosper.

Suominen has entered into a single-currency syndicated revolving credit facility agreement of EUR 100 million with a maturity of three years with two one-year extension options. The lenders for the facility are Danske Bank A/S, Finland Branch and Nordea. The new credit facility includes leverage ratio and gearing as financial covenants.

H.I.G. Capital, LLC ("H.I.G."), a leading global private equity investment firm with over €34 billion of equity capital under management, is pleased to announce today that Pascal Meysson has joined H.I.G. Capital as a Managing Director and Head of H.I.G. WhiteHorse Europe, H.I.G.’s direct lending European affiliate. Pascal has 24 years of investing experience overall including 16 years in the European direct lending market.

The funds were used to pay off the previous lender and provide additional working capital for the company. Rebel Green, LLC is located in Mequon, Wisconsin and provides a broad line of natural, eco-friendly household cleaning products.

Triad Manufacturing, Inc. (“Triad” or the “Company”) has successfully completed a refinancing with J.P. Morgan Chase Bank, N.A. (“J.P. Morgan”). FocalPoint Securities, LLC (“FocalPoint”) served as the exclusive investment banker to the Company. Triad designs, engineers, manufactures, and installs custom fixtures for leading brands across the retail landscape.

Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today its expansion efforts in the greater Los Angeles market, complementing its San Francisco operations.

The new term loan, which matures in July 2024 , is subordinated to the Company's existing senior secured revolver facility with Wells Fargo Capital Finance Corporation Canada ("Wells Fargo") and Crystal Financial LLC ("Crystal"). The loan bears an interest rate of 3.14% per annum, is repayable in 36 equal payments beginning in July 2021 and requires the Company to have a working capital ratio (defined as current assets divided by current liabilities excluding the current portion of operating lease liabilities) of at least 1.01, calculated on an annual basis.

Franchise Group, Inc. (NASDAQ: FRG) (“Franchise Group” or the “Company”) announced that it is providing Tuesday Morning Corporation (“Tuesday Morning”) with a $25 million debtor-in-possession (“DIP”) loan as part of its bankruptcy proceedings.

Newpoint Advisors Corporation, a financial advisory firm focused on small distressed companies, today announced that Aaron Osborne, an experienced chief financial officer, has joined the firm as managing director of the Dallas office.

Kayne Anderson Capital Advisors, L.P. (“Kayne” or the “Firm”), announced today the continued expansion of its renewable investment platform with a series of solar investments in the second quarter. Over the last several years, Kayne has leveraged the firm’s deep energy and infrastructure expertise to expand its investment platform to pursue opportunities in renewable power and infrastructure. The firm has named Jon Levinson and J.C. Frey co-heads of Kayne’s renewable platform with Mr. Levinson leading the private renewable efforts and Mr. Frey leading the public markets strategies.

Antares announced today that it served as lead left arranger and is acting as administrative agent on a senior secured credit facility to support Parthenon Capital’s growth recapitalization of RxSense.

Bridge Bank today announced it is expanding its Capital Finance group, which provides a full complement of asset-based lending solutions. The group now will be led by managing director Timothy Carstens, who joins Bridge Bank from Fifth Third Business Capital.

Boston-based leader of firm’s Valuation Services division honored by peers in secured finance industry in annual awards program.