TSL Express Daily Articles & News

Refinancing expands borrowing capacity nearly 30%, reduces cost of debt and enhances flexibility to drive growth strategy

Winter Harbor LLC, a national restructuring and turnaround firm, announced Kurt Hedderich has been promoted to senior director and Matt Czerkowicz and Matt Dalton have both been promoted to senior manager.

SG Credit provided the Company with a bifurcated loan structure consisting of a $1MM interest-only loan to refinance the existing debt and a $1MM term loan to finance the Company’s growth initiatives.

KKR, a leading global investment firm, today announced the final closing of KKR Global Impact Fund SCSp (“KKR Global Impact” or the “Fund”), a $1.3 billion fund dedicated to investment opportunities in companies whose core business models provide commercial solutions to an environmental or social challenge.

TAB Bank is pleased to announce it has provided a $2.5 million revolving credit facility for a technology company based in in California. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs

Latham & Watkins LLP is pleased to announce that Justin T. Stolte has returned to the firm's Houston office as a partner in the Corporate Department and member of the Mergers & Acquisitions Practice. Stolte draws on a unique combination of technical, legal, and business experience regularly representing clients in complex transactions across the energy sector.

Wells Fargo & Company (NYSE: WFC) today announced the appointment of several new business leaders and changes designed to create a flatter line of business organizational structure and provide leaders with clear authority, accountability, and responsibility. The new model has five line of business CEOs, each reporting to Wells Fargo CEO Charlie Scharf and represented on the company’s Operating Committee.

Macy’s has a three-year plan to turn around flagging sales, but experts say it might be too little, too late for the iconic U.S. retailer.

Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $6.3MM AR and Inventory revolver with M&E and Capex Term Loans to a company who provides meal production & delivery service to hospitals, skilled nursing homes, long-term care facilities and catering companies throughout the country.

The North America region witnessed a slump in mergers and acquisition (M&A) deal volume in the fourth quarter (Q4) of 2019, according to GlobalData, a leading data and analytics company. M&A activity within the North America region witnessed a down trend, with the region experiencing a decrease from 3,149 M&A deals in Q4 2018 to 2,851 M&A deals in Q4 2019.

The board of directors of Peoples Financial Corporation (OTCQX Best Market: PFBX), parent of The Peoples Bank ("bank"), today announced the promotions of Karen B. Arguelles to Vice President (Commercial Lending), Brian J. Kozlowski to Senior Vice President and Chief Administrative Officer and A. Tanner Swetman to Senior Vice President and Chief Operating Officer.

Business Capital structured and delivered approximately $6MM in senior secured loans for NOVA IVF, a clinic established in 1987, providing in vitro fertilization (IVF) treatments with a consistent success rate well above average nationwide.

Angelo, Gordon & Co., L.P. (“Angelo Gordon” or the “Firm”), a $38 billion alternative investment firm focused on credit and real estate investing, announced today the final closing of AG Credit Solutions Fund, L.P. (the “Fund”) with $1.8 billion of equity commitments.

Earth Fare, which filed for Chapter 11 bankruptcy protection last week, has retained A&G Real Estate Partners to market and sell all of its stores and leases and Hilco Streamback to do the same for its intellectual property.

PQ Group Holdings Inc. (NYSE:PQG), a leading integrated and innovative global provider of specialty catalysts, materials, chemicals, and services, announced today that its indirect, wholly owned subsidiary, PQ Corporation (the “Company”) has successfully secured commitments to amend its existing senior secured term loan facility (the “Amended Term Loan Facility”) in an aggregate principal amount of $947.5 million at a lower interest rate margin and with an extended maturity.

The Company is a 20-year old multi-state licensed, independently owned pharmacy provider. In 2015 the Company created the my-medPak Medication Management Program. This program provides a simple and safe solution to help manage a patient’s medications at no additional cost. The Company sorts and delivers patient medications in customized medPaks with a care team that provides the added support to ensure patients adherence to their medication protocol.

The Issuers used the net proceeds from the offering to repay all $2.05 billion of outstanding borrowings under Uniti’s term loan facility and $156.7 million of outstanding borrowings under Uniti’s revolving credit facility (and terminated related revolving commitments in an amount equal to $157.6 million).

Oncor Electric Delivery Co. LLC entered a term loan credit agreement for $450 million with certain lenders and Sumitomo Mitsui Banking Corp. as the administrative agent. The Sempra Energy subsidiary can borrow the full loan amount in up to four borrowings at any time before April 27, according to a Jan. 30 filing.

Blank Rome LLP is pleased to announce that Dean S. Nordlinger has joined the Firm’s Washington, D.C., office as a Partner in the Corporate, M&A, and Securities group, which welcomed Partner Stacy H. Louizos earlier this week in the New York office. Dean brings more than 20 years of experience representing privately held and closely held companies of all sizes, private equity firms, and entrepreneurs from a broad range of industries.

H.I.G. Bayside Capital (“Bayside”), the distressed debt and special situation affiliate of H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with over €31 billion of equity capital under management, is pleased to announce the promotion of Andrew Scotland to Co-Head of the firm's European special situations debt activities. Andrew will co-head alongside Bayside Managing Director Duncan Priston.