TSL Express Daily Articles & News

Republic partnered with an investment bank to provide a ledgered receivables line of credit to support exponential growth.

Winter Harbor LLC, a restructuring and turnaround advisory firm, is pleased to announce the addition of Jim Whitney to their team as a managing director. Jim brings forth more than 25 years of financial advisory, restructuring, and turnaround expertise to large and middle-market companies and their stakeholders.

CIT Group Inc. (NYSE: CIT) today announced that its Real Estate Finance unit provided $36.2 million in financing for the acquisition of Park Center, a 97% leased, multi-tenant office building in Plano, Texas. Park Center, which was acquired by an affiliate of Innovatus Capital Partners LLC, is a five-story, Class A office building located at 2400 Dallas Parkway that encompasses approximately 236,000 square feet of rentable space.

The M&A Advisor announced the winners of the 14th Annual Turnaround Awards on December 10, 2019. ToneyKorf Partners, LLC was named the Turnaround Consulting Firm of the Year and also recognized with an award for the Out-of-Court Restructuring of the Year ($10MM to $100MM) for the acquisition of Milford Hospital by Yale New Haven Health. The awards will be presented at a Black Tie Gala on March 18, 2020, at The Colony Hotel in Palm Beach, FL.

Chandler Industries, Inc. is a portfolio investment of Arch Equity Partners located in St Louis, Missouri. Proceeds of the facilities were used to repurchase stock, provide for a dividend, refinance existing debt and ongoing working capital financing.

Axiom Bank N.A., a Maitland-based, leading community bank, recently hired Amy Carlson as VP, Commercial Team Lead. In this role, Carlson will work with Axiom’s commercial clients throughout Central Florida to help them achieve their business goals.

The amended credit agreement provides for a new term loan facility of US$1.909 billion and a new revolving credit facility with commitments ofUS$200 million (together, the “Senior Credit Facilities”), which replaced the existing term loan and revolving facilities. The revolving credit facility is currently undrawn. JP Morgan Chase Bank N.A. (“JP Morgan”) is acting as administrative agent and collateral agent with respect to the Senior Credit Facilities.

The client is a luxury jewelry retailer based in the Northeastern U.S. The financing arranged consisted of a $20 million senior secured revolving line of credit.

This agreement provides up to $20 million of new capital to the Company for development and general corporate purposes, with an initial up to $10 million draw available at Orchestra BioMed’s sole option during the next 12 months and the remainder available to the Company following the completion of certain milestones.

The term loan is being arranged by JPMorgan Chase Bank, N.A., Morgan Stanley Senior Funding, Inc., BofA Securities, Inc. and MUFG Union Bank, N.A.

Finacity Corporation (“Finacity”), part of the Greensill family of companies, announced today that it has facilitated a EUR 15 million receivables financing facility for Wiko Mobile, a rapidly-growing maker of popular smartphones in Europe. The new facility provides additional financing for the company’s repositioning and development program in Europe.

Republic partnered with a turnaround consulting firm to provide a receivables line of credit to help support the trucking firm’s growth.

Allied Affiliated Funding, a division of Axiom Bank, N.A. is pleased to announce the following recently closed transactions: $250,000 in Receivables Financing to a Texas-based company that primarily provides commercial roofing services on new construction and sheet metal fabrication, including standing seam metal roofs, gutter, downspouts and flashing and $150,000 in Receivables Financing to a Texas-based company that provides steel fabrication, including sheet metal bending, laser cutting and plastic injection/heat molding for manufacturing companies.

PNC Capital Markets LLC, Citigroup Global Markets Inc. and Wells Fargo Securities, LLC served as Joint Lead Arrangers and Joint Book Managers for the Revolving Facility. PNC Bank, National Association served as the Administrative Agent and Citigroup Global Markets Inc. and Wells Fargo Securities, LLC served as Co-Syndication Agents. PNC Bank, National Association, Citibank, N.A., Wells Fargo Bank, National Association, Capital One, National Association, Citizens Bank, N.A., Regions Bank, SunTrust Bank, U.S. Bank National Association, JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., Raymond James Bank, N.A. and Stifel Bank & Trust served as participating lenders in the Revolving Facility.

CanWel Building Materials Group Ltd. (“CanWel” or “the Company”) (TSX:CWX, CWX.NT.A) is pleased to announce the early renewal of its senior revolving credit facility with its lender and agent, Wells Fargo Capital Finance Corporation (Canada) and CIBC, Royal Bank and TD as syndicate lenders

Pinnacle Capital Finance has provided a $900,000 accounts receivable line of credit to a commercial and digital printer located in Oregon. The company provides state of the art printing, fulfillment and on-site inventory organization for their clients including global distribution.

Artis Trade Systems (“Artis”), a Phoenix-based Fintech company that developed ArtisPay, a plug and play Supply Chain Finance web application for banks and lenders of all sizes, recently hired Kenny Steinbeck as Vice President of Sales. Mr. Steinbeck is located in Orlando, FL., but will be relocating to Arizona in 2020. Mr. Steinbeck was most recently with LSQ as a Bank Channel Manager.

BlackArch Partners, a leading middle-market investment bank, is pleased to announce that Ian Mackay has joined the firm as Managing Director. He will serve as head of BlackArch's Financial Sponsors Group focusing on middle market private equity groups and family offices.

Paul, Weiss, Rifkind, Wharton & Garrison LLP is pleased to announce that seven attorneys have been elected to the partnership, effective January 1, 2020: Jonathan H. Ashtor, Rachael G. Coffey, Alexia D. Korberg, Caith Kushner, Kyle T. Seifried, Brette Tannenbaum and Austin Witt. All are resident in the New York office.

North Mill Equipment Finance announced today the closing of its third commercial equipment asset backed securitization (ABS), NMEF Funding 2019-A.