TSL Express Daily Articles & News

In this capacity, Sam will continue to lead the bank’s regional middle market banking organization, as well as equipment finance and other established middle market verticals including healthcare, emerging growth and government lending.

Tim Wennes was named Santander US CEO and Country Head, and Mahesh Aditya named CEO of Santander Consumer. Sarah Drwal named Santander US CRO, and Juan Carlos "JC" Alvarez Joins Santander Consumer Board of Directors.

The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs. The company provides high-temperature point-of-sales systems and software peripherals to the restaurant industry.

Secure Trust Bank Commercial Finance has bolstered its senior team in the North West by appointing a new regional managing director. Paul Johnston has more than 30 years of experience within the asset-based lending market. He joins from Santander and has also held senior roles at Landsbanki Commercial Finance and Lloyds Bank.

Retailer Destination Maternity Corp. is asking the Delaware bankruptcy court to approve a $50 million stalking horse bid from brand acquisition company Marquee Brands for its e-commerce operation, store-in-store locations and trademarks. Destination Maternity is represented by Adam G. Landis, Kerri K. Mumford and Jennifer L. Cree of Landis Rath & Cobb LLP and Christopher T. Greco of Kirkland & Ellis LLP.

Astorius, one of Germany's leading private equity firms, announced that it has entered into a strategic partnership with Twin Bridge Capital Partners, a U.S. private investment firm, to expand its small and lower middle-market private equity product offering.

Gridiron Capital, LLC (“Gridiron Capital”), a leading investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce it has promoted Sean Kelley to Managing Director, Business Development and added and promoted Ty Black to Associate as part of the Business Development Team.

Carol Anne Huff announced today that Carol Anne Huff has joined the firm's Chicago office as a partner in the Corporate & Finance practice. Ms. Huff brings more than 20 years of experience in capital markets and M&A transactions, with a focus on the representation of private equity firms and public companies. Ms. Huff joins Arnold & Porter from an AmLaw100 firm.

Umpqua Bank, a West Coast regional bank, has released its “State of the Middle Market 2020,” a national survey gauging the confidence of companies that together account for one-third of all U.S. private sector GDP. More than 500 decision-makers at middle market companies across all industries and geographic regions were polled on issues impacting their economic confidence and decision-making heading into 2020, including U.S.-China trade, stock market volatility, the labor market and interest rate environment.

Newbridge Global Sourcing (“Newbridge”), a leading specialty finance company, recently provided a $40 million receivables financing facility to a telecommunications equipment manufacturer headquartered in Mexico. In addition, Newbridge provided $500,000 in supply chain financing to a leading designer and manufacturer of high-quality outdoor apparel to purchase inventory and fill customer orders.

Chesapeake Energy Corporation (NYSE:CHK) announced today that it has engaged JPMorgan Chase Bank, N.A., Morgan Stanley Bank, N.A., Bank of America, N.A. and MUFG Bank, N.A. to assist with the arrangement of a secured first lien last out 4.5-year term loan facility in the aggregate principal amount of up to $1.5 billion.

Encina Business Credit, LLC (EBC) announced today that it has provided a $30 million senior secured credit facility to a company that produces coal for blast-furnace steel production. The facility consists of a revolving line of credit based on accounts receivable and inventory. Loan proceeds will be used to provide a dividend and to support working capital, capex, and other corporate requirements.

The client was a Luxury Jewelry Retailer based in the Northeastern U.S. The financing will be used to refinance existing debt & provide additional working capital.

Notable regulatory compliance and risk challenges remain high in a number of key areas for U.S. banks and credit unions, according to results of Wolters Kluwer’s 2019 Regulatory & Risk Management Indicator survey. This year’s survey generated a Main Indicator Score of 95, a 10-point increase from the 2018 score, that was influenced by concerns about the impact of Home Mortgage Disclosure Act (HMDA) rules; cybersecurity, credit and compliance risks; and an increased level of regulatory agency fines.

The company has been an industry leader for forty years and has the largest privately held inventory of forming equipment in the world. The line of credit will be used to supplement cash flow during crucial times of need, meet payroll demands and increase sales and production.

Capital One announced today that it closed a $182 million loan to finance substantial improvements for a four-building, 288,000 sq. ft. office campus in San Diego’s University Town Center by BioMed Realty, a Blackstone portfolio company. Funding includes a holdback for the redevelopment currently underway, led by the conversion of certain office space to laboratory/life science use and the addition of a variety of Class A amenity features serving the entire campus.

SG was able to quickly get comfortable with the business due to the contracted recurring revenue, continued equity support, and opening liquidity. SG provided a $1.5MM non-formula, structured senior secured loan.

Since joining the firm in 2007, Webb has held positions of increasing responsibility and for the last two years has led the firm’s investment banking restructuring vertical alongside Partner Evan Tomaskovic.

White Oak Healthcare Finance, LLC (“White Oak”) announced today that it acted as sole lender and administrative agent on a senior credit facility for Virtus Pharmaceuticals (“Virtus”), a portfolio company of Linden Capital Partners (“Linden”). Proceeds were used to refinance existing debt and provide liquidity for strategic initiatives and working capital.

Jennifer Rabinowitz will be responsible for all aspects of Finvoice’s sales and marketing, leading sales efforts nationwide and overseeing critical marketing initiatives to create and deliver value to the company. She will be based in New York City.