TSL Express Daily Articles & News

JPMorgan Chase Bank NA and Silicon Valley Bank acted as joint book runners and joint lead arrangers on the agreement.

Rockwell Automation, Inc. (NYSE: ROK) announced today that it has entered into a $400 million, 364-day term loan agreement, which will be used to provide funding for two previously announced acquisitions and for other general corporate purposes. In February of this year, Rockwell Automation announced the signing of agreements to acquire privately-held Kalypso, LP, a US-based software delivery and consulting firm, and Italy-based ASEM, S.p.A., a leading provider of digital automation technologies. These acquisitions are expected to close within the next few weeks.

Latest analysis from the CEPRES Investment Platform highlights major sectors that could be winners and losers from the Coronavirus crisis. By evaluating current value creation and revenue growth opportunities in PE-backed companies and contrasting with the GFC (Global Financial Crisis) period the CEPRES Platform is able to identify potential outcomes from the COVID-19 crisis.

On Tuesday, April 21, the Senate passed an amendment to the CARES Act that, among other things, would amend certain provisions of the Paycheck Protection Program (“PPP”), economic injury disaster loans, and emergency grants. The amendment is expected to pass the House later this week and the president has indicated he would sign it. In some ways, the amendment is as notable for some of the things it did not do – it did not create eligibility for financial services firms including community banks and secured lenders to borrow PPP loans, and it did not include rumored restrictions on larger borrower’s access to PPP – as it is for what it did do (increase funding and create a set-aside of PPP guarantees for PPP loans made by certain small and community development lenders).

MiMedx Group, Inc. (OTC PINK: MDXG) (“MiMedx” or “the Company”), an industry leader in advanced wound care and an emerging therapeutic biologics company, today announced that it has received notice from Bank of America that its application for a Paycheck Protection Program loan (a “PPP Loan”) under the CARES Act has been approved.

Sidley is pleased to announce that Joshua Thompson has joined the firm in New York as a partner in its Global Finance group. Mr. Thompson was previously a partner at Shearman & Sterling LLP, where he was head of the firm’s Global Leveraged Finance group and head of Private Capital.

Arent Fox is pleased to announce the expansion of its Corporate & Securities practice with the addition of Partner Tal M. Unrad in Boston.

Citizens M&A Advisory served as co-lead advisor to CareerBuilder, a global technology company that provides end-to-end talent acquisition solutions, on its sale of CareerBuilder Employment Screening to Accurate Background, a leading provider of automated workforce screening solutions. Accurate received an investment to support the acquisition from Apax Digital Fund, the technology-focused growth equity fund advised by Apax Partners

Tradewind Finance has provided a $5 million credit facility to a manufacturer of flavorings, essential oils, and fragrances based in India. The company exports to the United States and Europe and is using the facility to grow their business and expand into new markets. The India-based manufacturer uses sustainable techniques to produce their line of flavorings and operates a lab dedicated to research and development. In order to capitalize on their R&D capabilities and build their business, they required access to additional working capital.

Gordon Brothers, the global advisory, restructuring, and investment firm, announced today that it has acquired the global Laura Ashley® brand, archives, and related intellectual property from the Laura Ashley group’s U.K. Administrators.

Company receives gross proceeds totaling $30 million to expand portfolio of equipment leasing contracts in Africa

CVC Credit Partners is pleased to announce that it has successfully raised US$657 million for its second U.S. focused direct lending fund, CVC Credit Partners U.S. Direct Lending Fund II ("Fund II"). Fund II will follow the same strategy as its predecessor fund, investing in established U.S. middle market businesses.

TAB Bank is pleased to announce it has provided a $2 million asset-based revolving credit facility for a construction maintenance company based in California. The new facility is extended through a multi-year agreement and will provide increased liquidity for the company’s ongoing working capital needs.

The syndication, led by Texas Capital Bank headquartered in Dallas, Texas, includes a number of other lenders with extensive backgrounds in lending within the telecommunications sector. The new credit facility will provide Strategic Wireless greater flexibility to capitalize on the growing number of infrastructure opportunities throughout the U.S.

KCP Advisory Group has been appointed by the Commonwealth of Massachusetts to provide the state’s long-term care facilities with on-site operational support and to assist with staffing, vendors, implementing infection control measures, and similar needs amid the COVID-19 crisis.

Katten announced today that two new partners have joined its Commercial Finance practice — Kirby Chin in New York and Brian Stern in Los Angeles — expanding a national team that works with many of the most active investors in the market, handles a wide range of US and cross-border financings and has overseen virtually every combination of deal variation, in all kinds of market environments.

TCI Business Capital is pleased to announce the hiring of Sheri Tischer as Vice President of Business Development – Staffing. Ms. Tischer brings to her role over 15 years of front-line staffing experience and has an authentic passion for the industry. She is responsible for developing staffing industry partnerships and driving sales of our payroll funding solutions throughout the nation.

Freshpet, Inc. (FRPT) (“Freshpet” or the “Company”) the leader in fresh, real food for pets, today announced the closing of an amended and restated $165 million senior secured credit facility (the “New Credit Facility”). This New Credit Facility includes a $130 million delayed draw term loan facility and a $35 million revolving loan facility that replaces the Company’s prior $55 million delayed draw term loan facility and $35 million revolving loan facility. The New Credit Facility will mature on April 17, 2025.

Alfa Laval - a world leader in heat transfer, centrifugal separation and fluid handling - has amended the company's Revolving Credit Facility into a facility of EUR 900 million and with a one-year extension of the maturity from June 2021 until June 2022.

Atalaya Capital Management, a private credit and special opportunities alternative investment manager, recently closed a $100 million senior secured revolving credit facility to CURO Group Holdings Corp. (“CURO”). The facility’s borrowing capacity may be increased up to $200 million over time.