TSL Express Daily Articles & News

TradeCap Partners provided a $1.4MM Purchase Order Facility to a West coast, branded, consumer goods company. The facility was structured to satisfy a seasonal working capital need related to a program with a key customer.

Jennifer has been with the Company since 2001. Throughout the years her role at North Mill Capital has evolved and she is currently a senior portfolio manager in our Minneapolis office. She manages a portfolio of ABL and invoiced based accounts and oversees our invoiced based collection team.

TAB Bank is pleased to announce it has provided a $4 million asset-based revolving credit facility for a transportation company located in Kentucky. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs. In addition to the working capital facility, TAB has also provided $1.2 million in equipment financing for the company.

The UK strengthens its role as EU leader thanks to a flexible regulatory regime, a supportive government policy and strong interest from investors, according to a new study commissioned by the Italian Factoring Association.

The facility was brought to market by Joint Bookrunners and Joint Lead Arrangers JPMorgan Chase Bank, N.A; BofA Securities and Citizens Bank, N.A.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for rare diseases, announced today that it has entered into an agreement with funds managed by Pharmakon Advisors, LP, that provides Sarepta with up to $500 million of borrowing capacity in two tranches.

Ocrolus, a leading fintech infrastructure company that transforms documents into actionable data with over 99% accuracy, today announced a new premium extension to its core technology platform. At a reception held tonight in New York, the company introduced Ocrolus+, the first turnkey solution for ingesting documents and digital data streams through a single API.

Lithia Motors Inc. (NYSE: LAD), a leading provider of personal transportation solutions, announced today that it completed an amendment and extension of its existing syndicated credit facility, increasing the total financing commitment to $2.8 billion, and extending the maturity date to January 1, 2025. The syndicated credit facility can be expanded to $3.2 billion in total availability, subject to lender approval.

Streamline Health Solutions, Inc. (NASDAQ: STRM), provider of integrated solutions, technology-enabled services and analytics supporting revenue cycle optimization for healthcare enterprises, today announced it has moved its credit facility to Bridge Bank, a division of Western Alliance Bank, effective December 11, 2019. Bridge Bank has extended the Company a new credit facility with a total capacity of $6 million. This credit facility replaces the Company's prior credit facility with Wells Fargo Bank N.A.

This facility is led by Wells Fargo Bank, National Association as Administrative Agent, RBC Capital Markets as Syndication Agent, Joint Lead Arranger and Joint Bookrunner, along with Wells Fargo Securities, LLC, BMO Capital Markets Corp., Barclays Bank PLC, BofA Securities, Inc., JPMorgan Chase Bank, N.A., Citigroup Global Markets Inc., and Credit Agricole Corporate and Investment Bank as additional Joint Lead Arrangers and Joint Bookrunners.

Business Capital (BizCap ®) continued to strengthen its industry presence in 2019, expanding its team of professionals, successfully closing 12 transactions covering a wide range of industries and financial structures with 8 more expected by year end.

Lazard Ltd (NYSE: LAZ) announced today that Tim Wielechowski has joined Lazard’s Middle Market Consumer, Food & Retail (CFR) group as Managing Director. He is based in Charlotte. Mr. Wielechowski has more than two decades of experience advising middle market private and public companies in the consumer products, retail, and restaurant sectors.

Leading global professional services firm Alvarez & Marsal (A&M) announces Lisa Price has joined A&M as Managing Director in Atlanta in its Restructuring & Turnaround practice. Ms. Price will leverage her wealth of global restructuring and leadership experience to strengthen the firm’s turnaround and restructuring service offerings.

TCF Middle Market Banking (TCFMMB), a division of TCF National Bank (TCF Bank) which is a subsidiary of TCF Financial Corporation (TCF) (NASDAQ: TCF), today announced that it provided secured financing to support Legacy Center, LLC.

Newbridge Global Sourcing (“Newbridge”), a leading alternative capital provider, has hired Sam P. Gilliss, CPA, as an Associate of Credit and Underwriting. He will be responsible for evaluating and underwriting supply chain, receivables, and asset-based lending facilities. Newbridge continues to add talented professionals in order to enable SMEs and large enterprises to grow through unique funding solutions.

The RBL consists of a $195 million syndicated revolving facility (“Syndicated Facility”) and a $30 million bi-lateral operating facility (“Operating Line”). The Syndicated Facility includes an accordion feature, which provides for a $25 million increase to the borrowing capacity, subject to the mutual consent of its lenders.

On December 7, 2019, the business operations of Think Finance, LLC and its subsidiaries emerged from Chapter 11 bankruptcy proceedings as reorganized entities following approval of their joint Chapter 11 plan by the United States Bankruptcy Court for the Northern District of Texas. As part of the ruling, the Think Finance entities resolved all governmental and private lawsuits and claims against them. The reorganized business will operate as new subsidiaries of TF Holdings, Inc.

DNB Markets, a part of DNB Bank ASA (“DNB”), ING Belgium SA/NV and Skandinaviska Enskilda Banken AB (publ) (“SEB”) acted as Co-ordinating Bookrunners and Mandated Lead Arrangers on the transaction.

BMO Capital Markets is Sole Bookrunner on the credit facilities and acted as a Sustainability Structuring Agent, working with Maple Leaf Foods to integrate the sustainability targets into the credit facilities. The Co-Lead Arrangers are BMO Capital Markets, Scotiabank, RBC, CIBC, and Rabobank Canada. Four additional lenders participated: Bank of America, JP Morgan Chase, National Bank Financial, and Toronto Dominion Bank.

Kirkland's, Inc. (NASDAQ: KIRK) today announced it has amended and extended its $75 million senior secured credit facility with Bank of America, N.A. The $75 million credit facility, with a maturity date of December 2024, replaces the previous facility that was set to mature in February 2021. The structure and terms of the credit facility are substantially the same as the previous facility.