TSL Express Daily Articles & News

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.

Frontier Communications Corp has filed for bankruptcy protection in the United States, the high-speed internet company said on Tuesday, as it restructures finances to cut down its borrowings by more than $10 billion. Frontier said it has entered an agreement with its bondholders and received $460 million in debtor-in-possession financing.

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.

FoodFirst Global Restaurants Inc., owner of Italian restaurant chains Brio Italian Mediterranean and BRAVO Fresh Italian, is the latest to seek bankruptcy reorganization in part because of shutdowns necessitated by the coronavirus pandemic. FoodFirst and seven affiliates filed Chapter 11 in the U.S. Bankruptcy Court for the Middle District of Florida April 10, intending to pursue a sale.

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.

Maxim Commercial Capital is pleased to announce it funded hard asset-secured financings for 250 small and mid-sized businesses (SMBs) during the first quarter of 2020. With the onset of the COVID-19 pandemic, Maxim adapted quickly to safer-at-home working conditions for its 30+ team members. Maxim lends $10,000 to $3,000,000 to SMBs nationwide secured by heavy equipment and real estate to facilitate asset purchases, working capital and to refinance expensive short term debt.

Gordon Brothers, the global advisory, restructuring, and investment firm, announced today the launch of its Industry Brief, which can be found on the COVID-19 Resource Hub at www.gordonbrothers.com/covid-19. Gordon Brothers’ Industry Brief gives an up-to-the-minute assessment of what the firm’s inventory, machinery and equipment, and intangibles experts see happening in multiple markets. The Industry Brief also comments on how values may be affected based on the most recent trends and events in the near, medium, and long term.

KeyCorp (NYSE: KEY) today announced that Greg Jones has been named Chief Diversity, Equity, and Inclusion Officer for the company. In this role, Greg will be accountable for leading the strategy and tactics to improve the acquisition, movement, development and retention of diverse talent and suppliers.

Old Hill provided $10 million in the form of a senior secured revolving-to-term credit facility to HealthGrowth Capital, LLC, a leading direct lender to community pharmacies. The facility was secured by first lien perfected security interest in pharmacy loans.