TSL Express Daily Articles & News

Utica Equipment Finance, a leading provider of equipment-based term loans and leases to companies throughout North America, today announced that Francois van Reede has joined the firm as a Business Development Officer. Based in Arizona, he will be responsible for sourcing and developing client and referral relationships throughout the United States.

Provides $4 million senior secured credit facility to Win Brands Group for the majority purchase of silicon ring maker, QALO.

The credit facility consists of a revolving line of credit based on accounts receivable and inventory and a term loan based on machinery and equipment. The credit facility was used to refinance an existing line of credit and will provide ongoing working capital financing.

To get a sense of the ramifications for the middle market, Mergers & Acquisitions examines several factors, including the current impact on China’s economic growth; how the virus was discussed in the earnings calls of U.S. public companies in January and February; and the views of two prominent dealmakers who are based in Hong Kong. As this is an ongoing story, we’ll continue evaluating the economic and business effects.

Global Merchant Fund (GMF), announced an increase in the credit facility to $40,000,000 for a financial technology company based in western Canada. The increase will consolidate the company‘s existing facilities and provide additional liquidity to continue to grow its business across Canada in a profitable manner.

Leland Capital Advisors LLC announced it provided a $250000 revolving Work in Progress (WIP) funding for a manufacturing company that specializes in Aeronautical Electronic Components in Georgia.

Huntington Business Credit announced it closed new $19,713,000 credit facilities with Sunbelt Modular, Inc. on February 4, 2020. Proceeds of the facility were used to partially fund the acquisition by strategic buyers and provide ongoing working capital growth financing.

Banco Santander S.A., London Branch, Bank of America Merrill Lynch International Designated Activity Company, Barclays Bank Plc, BNP Paribas, Citibank N.A. London, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, Danske Bank A/S, Deutsche Bank, Handelsbanken, HSBC France, MUFG, Nordea, SEB and Standard Chartered Bank, joined as mandated lead arrangers.

Monticello has provided $117 million in first lien debt financing for the acquisition of 12 skilled nursing properties and the refinance of one other in North Carolina and Kentucky. The skilled nursing portfolio totals 1,357 beds.

The Boston-based chain, which owes $30.7 million in secured debt, put itself up for sale two months ago and shuttered 30 units in December. It is also pivoting its focus to its catering program as part of a restructuring effort. In 2016, Cosi filed for bankruptcy. The following year, AB Value Management and Milfam LLC bought the chain. The death of Lloyd Miller III, Milfam’s principal, early in 2018 caused Milfam to “extricate itself from its investment in Cosi,” according to the filing.

White Oak Global Advisors, LLC (“White Oak”) today announced the addition of three senior members to White Oak Aviation, LLC, the aviation financing affiliate created to expand the firm’s offerings to the aviation market. Bob Genise, Asa Watts, and Greg Byrnes will be based in Bellevue, Washington and Ireland, and will further enhance the firm’s capabilities in the space.

RigNet, the leading provider of ultra-secure, intelligent networking solutions, announced today that it has successfully amended its senior secured Credit Facility with its existing bank group led by Bank of America, N.A. as administrative agent

Sallyport Commercial Finance provides a $600,000 accounts receivable facility to a company that specializes in non-destructive testing services. The family-owned and operated business was referred to Sallyport by a broker who has introduced business in the past. With a turnaround solution in place, the company hopes to generate more revenue and stabilize their working capital.

The law firm of Moritt Hock & Hamroff with offices on Long Island and in New York City has announced that Anthony J. Ficara, Michael Wickersham and Jodi B. Zimmerman have joined the firm, adding a new industry practice, in the Condominium & Co-Op Services sector, within the scope of the firm's Real Estate Practice Group. Mr. Ficara joins the firm as a partner and resides in the firm's New York City office. Mr. Wickersham and Ms. Zimmerman join the firm as associates and reside in the firm's Garden City office.

Edgemont Co-advised Quigley Eye; Transaction represents Edgemont’s fifth office-based physician services transaction in seven months

The Company and certain funds managed by Deerfield Management Company, L.P. (collectively, “Deerfield”) also agreed to amend their existing facility agreement and credit agreement to extend near-term mandatory amortization payments and provide for certain conversion rights and obligations pertaining to the Company’s debt to Deerfield.

Deserve, the venture-backed fintech company expanding and powering the real-time credit card economy, announced today a new $100 million credit facility with Credit Suisse AG. Sector Financial Inc., an affiliate of Credit Suisse, provided access to the Credit Suisse debt facility.

Crestmark secured a total of $6,300,000 in ABL financial solutions for nine new clients; Crestmark Equipment Finance provided $24,532,533 in 10 new lease transactions; Crestmark Vendor Finance provided $5,580,236 in 56 new lease transactions; and the Government Guaranteed Lending Division provided $5,224,037 in financing for three new clients in the first half of February.

Cosi expects to emerge from Chapter 11 as a stronger version of itself, with a greater focus on its burgeoning catering business. Cosi has retained a chief restructuring officer, Jason F. Fensterstock, to assist with the development and implementation of its business plan and the associated cost cutting and initiatives which are well underway and include the opening of several new locations in the first half of 2020.

“Bob has been influential in the creditors' rights and commercial collection industry. He is well respected by financial companies throughout the country. We are pleased to have him as a valuable member of our firm,” states Lewis Cohn, Managing Partner of Cohn & Dussi.