TSL Express Daily Articles & News

Flexential Corp. ("Flexential"), a leading provider of data center colocation and hybrid IT solutions, today announced that its parent, Flexential Intermediate Corporation, issued $250 million of Senior Secured Notes due 2024. Flexential (created in August 2017 following the merger of Peak 10 and ViaWest) operates 40 highly redundant and connectivity-rich data centers spanning 21 markets.

Antares Capital Advisers LLC, a subsidiary of Antares Capital LP (together with its parent companies, “Antares” or the “Company”) announced the closing of Antares CLO 2019-2, Ltd., a $400 million collateralized loan obligation (CLO). The CLO represents the seventh CLO issued by Antares, bringing the company’s total CLO assets under management to approximately $6.9 billion.

SierraConstellation Partners, LLC (SCP), a national interim management and advisory firm to middle-market companies in transition, announced today the opening of an office in New York, N.Y. led by industry veteran David Bitterman as Managing Director, enhancing the firms’ national presence in the turnaround space.

Carl Marks Advisors, a leading investment bank providing financial and operational advisory services to middle market companies, today announced further expansion of its mergers & acquisitions group with the appointment of Christopher Parisi as Managing Director and Michael Gordon as Vice President.

Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced Blake Kenny has joined the firm as Managing Director of Originations. Kenny will be based in Detroit and responsible for leading origination efforts in Michigan and Western Pennsylvania.

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.

People's United Bank, N.A., a subsidiary of People's United Financial, Inc. (NASDAQ: PBCT), announced its Healthcare Finance Group provided a $15.5 million Credit Facility to Esplanade Capital LLC.

American Commercial Lines Inc. (together with certain of its affiliates, "the Company" or "ACL") today announced that it has entered into a Restructuring Support Agreement (the "RSA") with holders of a substantial majority of its term loan lenders on a "pre-packaged" plan to recapitalize the business and significantly reduce the Company's debt. Under the terms of the RSA, ACL will receive $200 million in new capital to support liquidity and investments in the business. In addition, the RSA provides for a reduction of funded debt by approximately $1 billion.

Ares Management Corporation (NYSE: ARES) (“Ares”) announced today that funds managed by its Alternative Credit strategy have provided a $350 million revolving asset-backed credit facility secured by consumer loans to Southern Management Corporation (“Southern”), a portfolio company of Milestone Partners. The financing will repay Southern’s existing credit facility and support its acquisition of Heights Finance Corporation.

Canadian Imperial Bank of Commerce, National Bank Financial and BMO Capital Markets are Joint Bookrunners and Co-Lead Arrangers on the credit facility.

New five-year credit facility expected to provide significant incremental liquidity and financial flexibility through January 31, 2025. OceanArc Capital Partners LLC acted as the Company’s exclusive financial advisor for the transaction.

Integra today announced that it has amended and extended its credit facility with a bank group led by Bank of America, N.A. The overall size of the credit facility is approximately $2.2 billion and consists of a revolving line of credit of $1.3 billion and an $877.5 million term loan. The maturity of the credit facility was extended to February 3, 2025.

Andrew Hollingsworth benefits from a uniquely hands-on approach to business, having served as Chief Financial Officer of Numi Organic Tea, a long-standing client of Gerber. Beforehand, his career evolved through multiple senior, corporate and divisional posts in financial services. From PricewaterhouseCoopers to UBS in Switzerland, his CPA experience made him a natural fit for Gerber.

Crystal Financial, a leading provider of direct private credit solutions for middle market businesses, is excited to announce the following promotions and new hires to its team. These additions will position the organization to fully cover the U.S., Canada and select international markets with innovative debt financings across a wide range of industries including consumer/retail, specialty finance, business services and industrials.

Bank Leumi USA today announced the appointment of David Paulson as Chief Banking Officer and Jeff Steigelman as Chicago Market President, respectively. Paulson will report directly to Leumi President and CEO, Avner Mendelson. He replaces Shawn McGowen, who will remain with Leumi in an advisory role.

Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the recapitalization of XanEdu by private equity sponsor Frontenac. Based in Ann Arbor, MI, XanEdu is a leading provider of custom content solutions to the Higher Ed and K–12 markets.

CVC Credit Partners is pleased to announce that it has provided the first lien funding for Vision Growth Partners' expansion of Alline Salon Group and going forward will further support the growth strategy through the provision of a delayed draw term loan facility. Cowen's Debt Advisory Group acted as the debt advisor for the transaction.

B. Riley Financial, Inc. (NASDAQ:RILY) ("B. Riley" or the "Company"), a diversified provider of business advisory and financial services which operates through several wholly-owned subsidiaries, today announced Michael Jerbich has joined as President of B. Riley Real Estate, LLC. A veteran real estate turnaround professional, Jerbich will lead a new business vertical which specializes in providing end-to-end solutions to maximize distressed real estate values.

U.S. Bank said today that Leslie Godridge, the company’s vice chair and co-head of Corporate & Commercial Banking, has announced her retirement after 13 years of service to the bank and nearly 40 years in the industry. Jim Kelligrew, who has co-led the Corporate & Commercial Banking division with Godridge for the past four years, will become the new vice chair overseeing the entire organization.

Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, today announced the closing of a senior credit facility to Impact Advisors ("the Company"), a leading provider of clinical, revenue cycle and information technology advisory services to the healthcare industry. Concurrently, the Company entered into a strategic partnership with Chicago Pacific Founders ("CPF"), an investment firm exclusively focused on healthcare services and caring for aging populations. Oxford is the sole lead arranger and administrative agent in this transaction.