TSL Express Daily Articles & News

CIBC Innovation Banking is pleased to announce a $25 million credit facility for Q4 Inc. (Q4), a Toronto based leading global provider of cloud-based investor relations and capital markets solutions. Q4 will use this latest growth financing to support continued scaling of its team, deepening of its best-in-class technology platform, and the continued pursuit of inorganic growth opportunities.

Several Forever 21 store landlords are urging the Delaware bankruptcy court to reject a proposal by the company's Chapter 11 buyer to alter procedures for going out of business in response to the coronavirus pandemic, arguing new measures such as suspending rent and preventing repossessions would be unfair to them.

Allied Affiliated Funding, a division of Axiom Bank, N.A. is pleased to announce the following recently closed transactions: $600,000 in receivables financing to a Texas-based company specializing in the recycle, repair, and resale of previously used electronics to wholesale and e-commerce customers and $1,500,000 in receivables financing to a Texas-based company providing inspection services for pipeline/rigs and consulting and training services to the oil and gas industry.

In a court filing on Monday, the denim-focused retailer listed the estimated value of its assets at $100 million to $500 million — the same estimated value of its liabilities. CEO Michael Buckley said the company is receiving a fresh influx of capital from its largest investors to help it restructure under Chapter 11. In court documents, True Religion said the coronavirus crisis precipitated its filing, writing that it “would have preferred to wait out the current instabilities of the financial markets and retail industry generally” but “simply could not afford to do so.”

Fifth Third Business Capital, a division of Fifth Third Bank, National Association, announced it acted as lead lender and administrative agent on the closing of a new $70,000,000 Senior Credit Facility for Lignetics, Inc. and its various subsidiaries ("Lignetics").

Fifth Third Business Capital, a division of Fifth Third Bank, National Association, announced it acted as sole lender and administrative agent on the closing of a new $15,828,000 Senior Credit Facility for Comfort Research, LLC. Based in Grand Rapids, Michigan, Comfort Research is the manufacturer of the Big Joe brand, which consists of casual furniture, pool products, and outdoor furniture. Fifth Third’s credit facility was used to refinance existing debt and working capital funding.

Michael joins from Pivotal Advisors, a national sales improvement firm dedicated to helping companies drive sales performance through implementation and reinforcement of systems, processes tools, and effective management where he had been a Sr. Consultant since 2017.

Sallyport Commercial Finance provides a $2,000,000 accounts receivable facility, including a $500,000 Cash Flow Loan to a company that provides a complete range of traffic control services for their customers.

Fiat Chrysler Automobiles N.V. (NYSE: FCAU / MTA: FCA) (“FCA”) announced today that it has successfully completed the syndication to a group of thirteen banks (inclusive of the two original underwriting banks) of the credit facility entered into on March 25, 2020 (“Credit Facility”).

The XFL, a reboot of the 2001 league of the same name, filed for Chapter 11 bankruptcy protection on Monday a month after it had to cancel the remainder of its inaugural season because of the coronavirus outbreak.

JCPenney has hired turnaround and restructuring firm AlixPartners LLP as the company looks for ways to survive its growing debt brought on by COVID-19 related business issues. According to Bloomberg, AlixPartners joins a growing list of advisers, including legal firm Kirkland & Ellis LLP and Lazard Ltd., the latter an investment bank that is also working with Macy’s.

Loan deferrals and grants geared toward Michigan's women entrepreneurs working in collaboration with SBA, Huntington Bank and others entrepreneurs are feeling community support, says MWF CEO. The new relief program, done in financial partnership with Detroit-based New Economy Initiative's Small Business COVID-19 Loan Relief Program, the Small Business Administration (SBA) and Huntington Bank, officially launched April 1 for the organization's existing companies and will run through September.

Walt Disney said Monday it’s entered into a new $5 billion, one-year credit agreement. That follows $6 billion the company raised last month with a sale of debt securities. The current agreement matures in April of 2021 and could be extended for a year. It provides for advances to be made for a year to be used for general corporate purposes, the company said in a SEC filling.

Siena Lending Group closed five deals totaling $51 million for an accessories manufacturer and food container manufacturer and companies provided software development, logistics and transportation. Siena Healthcare Finance closed two deals totaling $12 million for a skilled nursing facility chain and medical and government staffing.

Brian Yoshida named Chief Legal Officer for Santander US; Joe Abruzzo named Head of Commercial Banking for Santander Bank

On Deck Capital Inc., in partnership with Celtic Bank, will be serving small business owners seeking funding under the Small Business Administration's Paycheck Protection Program loan applications, a part of the Coronavirus Aid, Relief and Economic Security Act, known as the CARES Act.

Royal Boskalis Westminster N.V. (Boskalis) has refinanced its revolving credit facility (RCF) providing the company with EUR 500 million committed bank financing until April 2025. The new facility was coordinated by ING Bank and is provided by a syndicate of seven banks (ABN AMRO Bank, BNP Paribas, HSBC, ING Bank, MUFG, Rabobank and NatWest).

Bank of America, N.A., served as administrative agent for the new term loan credit agreement. Additionally, BofA Securities, Inc. and U.S. Bank National Association served as joint lead arrangers and joint bookrunners, U.S. Bank National Association served as syndication agent and Truist Bank served as documentation agent.

Blackstone (NYSE: BX) and Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, today announced the companies have entered into a broad strategic collaboration under which Blackstone will provide up to $2 billion to support Alnylam’s advancement of innovative RNA interference (RNAi) medicines that have the potential to transform the lives of patients suffering from a range of debilitating diseases.

Hitachi Capital America Corp. (HCA) today announced that David Williamson has joined the company as vice president of Sales, Technology Finance. David is responsible for originating, structuring, and closing working capital and supply chain financing relationships with new clients in the technology sector. He is based in southern California and reports to Paul Stemler, president of the Technology Finance business.