- Gateway Trade Funding Completes 17 Stretch Finance Transactions Totaling Almost $5,000,000
- Quinn Residences Announces the Expansion of its Revolving Credit Facility to $1 Billion
- Blue Bear Capital Closes Third Fund, Adding $200 Million to Platform for Machine Intelligence Investments into Energy, Infrastructure, and Climate Industries
- Audax Private Debt Provides Financing to Support Comvest Private Equity’s Acquisition of Riccobene Associates Family Dentistry
- CohnReznick Garners Three Top Workplace Awards
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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Merit Medical Announces New Five-Year Senior Secured Credit Agreement
The credit agreement includes a revolving credit facility in an aggregate principal amount of up to $700 million and a term loan facility in an aggregate principal amount of up to $150 million. Wells Fargo Bank, National Association is acting as administrative agent for a group of financial institutions providing the new credit facilities.
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Featured
Interview with Michael Scolaro, BMO Commercial Bank ABL
As part of our series of executive interviews, Charlie Perer sits with Michael Scolaro, managing director and asset based group head for BMO Commercial Bank ABL, to hear his perspective on the state of the BL market, bank vs. non-bank competition, the future of ABL, executive development and competition, among other things.
TSL Express Daily Headlines & News
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Brookdale Announces Beneficial Financing Transactions; Successfully Extends Debt Maturities
January 2, 2024Brookdale Senior Living Inc. (NYSE: BKD) ("Brookdale" or "the Company") announced today that the Company has recently completed two financing transactions, which refinanced all of its remaining 2024 debt maturities. After giving effect to these transactions, the Company's next debt maturity without extension options is September 2025.
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On.Energy Closes $40 Million of Construction and Permanent Financing to Build Palo Verde Battery Storage Portfolio in Texas
January 2, 2024On.Energy, a proven end-to-end integrator of battery energy storage and Independent Power Producer (IPP), today announced it has closed both construction facility totaling more than $40 million and permanent debt facilities for an 80 megawatt-hour (MWh) portfolio in Texas (the Palo Verde Projects) with financing provided by Live Oak Bank.
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Chicago Atlantic Funds Margo Bitcoin ATM Network
January 2, 2024Chicago Atlantic announced today the funding of a $16 million senior secured term loan to Margo, a cryptocurrency ATM operator that provides a secure and convenient way to instantly turn cash into digital currency.
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enGene Announces Expanded $50 Million Debt Facility with Hercules Capital
January 2, 2024nGene Holdings Inc. ("enGene,"Nasdaq: ENGN), a clinical-stage genetic medicines company whose lead EG-70 program is in a pivotal study for BCG-unresponsive non-muscle invasive bladder cancer (NMIBC), announced today that it has entered into an amended USD $50 million loan agreement (the "Loan Agreement") with Hercules Capital, Inc. (NYSE: HTGC) ("Hercules").
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Provident Financial Services, Inc. and Lakeland Bancorp, Inc. Extend Merger Agreement
January 2, 2024Provident Financial Services, Inc. (NYSE:PFS) (“Provident”), the parent company of Provident Bank, and Lakeland Bancorp, Inc. (Nasdaq: LBAI) (“Lakeland”), the parent company of Lakeland Bank, today announced that the two companies have agreed to extend their merger agreement to March 31, 2024, to provide additional time to obtain the required regulatory approvals.
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Private Equity Veteran Kelly Williams Joins Blank Rome in Houston
January 2, 2024Blank Rome LLP is pleased to announce that A. Kelly Williams has joined the firm’s Houston office as senior counsel in the Corporate, M&A, and Securities group. Kelly will focus his practice on advising clients, including private equity funds, portfolio companies, financial institutions, and privately held businesses, on structuring and implementing acquisitions, divestitures, and financing transactions, as well as providing strategic business counsel to support future growth.
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Hull Street Energy Closes on $160 Million Credit Facility for Mesquite Generation
January 2, 2024Hull Street Energy has closed a $160 million financing for its 855 MW Milepost Power Texas portfolio known as Mesquite Generation. The plants in the Mesquite portfolio are located in Bastrop and Paris, Texas, and provide critical power generation and reliability services to the Texas grid. Proceeds will be used to fund reserves, expenses and distributions to investors.
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Breakwall Capital LP Announces Successful Launch
January 2, 2024Breakwall Capital LP (“Breakwall”), a credit investment firm that services the energy industry, announced today that it has launched as an independent and employee-owned asset manager. Breakwall is a seasoned credit investor and energy specialist dedicated to facilitating the growth and improvement of conventional, renewable and “next generation” energy companies.
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MidCap Business Credit LLC Completes a $12 Million Asset Based Credit Facility to an Underground Utility Contractor
January 2, 2024MidCap Business Credit LLC announced today that it has completed a $12 million asset-based credit facility to an underground utility contractor located in New England.
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Moritt Hock & Hamroff Announces 2024 Attorney Promotions
January 2, 2024Moritt Hock & Hamroff has announced that Sofia Fayer, Ilona Posner, Caitlyn Ryan and Michael Schwab have been elevated to Partner, and Karen Davakis, Marshall Dworkin, Grace Lee, Dan Lust and Michael Wickersham have been elevated to Counsel, effective January 1, 2024.
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Salem Media Group Announces New Revolving Credit Facility with Siena Lending Group
January 2, 2024Salem Media Group, Inc. (NASDAQ: SALM) announced today that it has closed a new $26.0 million 3-year asset-based revolving credit facility with Siena Lending Group (the “New Revolving Facility”), which refinanced its prior revolving facility with Wells Fargo Bank.
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Celtic Capital Corporation Provides Funding for Eastern Midwest Commercial Bakery
January 2, 2024Celtic Capital provided a $1,000,000 Accounts Receivable Line of Credit, a $200,000 Inventory Line of Credit and a $500,000 Equipment Loan which provided sufficient liquidity to meet the Company’s needs.
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Sterling Announces Extension of Credit Facility
January 2, 2024Sterling Infrastructure, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that it requested and received an amendment to its 2019 credit agreement that extends the maturity of the credit facility by 18-months to April of 2026.
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Marco Provides a Factoring Facility for Spectron Systems Technology Inc.
January 2, 2024The company located on Hauppauge, New York on Long Island, that specializes in designing and creating tilt sensors and inclinometers since 1947, Spectron Systems Technology, opened a factoring line with Marco with the purpose of optimizing cash flow and operations.
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Citigroup to Shut Global Distressed-Debt Business - CNBC
January 2, 2024U.S. lender Citigroup (C.N) is closing its global distressed-debt business as part of CEO Jane Fraser's overhaul, CNBC reported on Wednesday citing people with direct knowledge of the matter.
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Haversine Funding Announces $35 Million in New Lender Finance Loans for Q4 2023
January 2, 2024Haversine Funding announces $35 million in new lender finance loans for the final quarter of 2023. These transactions further underscore Haversine’s commitment to providing comprehensive and tailored solutions to the specialty finance market.
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QMC Telecom International Secures New R$1.25 Billion Credit Facility
January 2, 2024QMC Telecom International Holdings, LLC ("QMC"), a scaled, fast-growing wireless infrastructure platform in Latin America, announced today the successful issuance of debentures in Brazil totaling R$1.25 billion (more than US$250 million) by QMC Telecom do Brasil Cessão de Infraestrutura S.A. ("QMC Brazil"), its Brazilian subsidiary.
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ProFrac Holding Corp. Completes Refinancing of Senior Secured Term Loan and Enhances Financial Flexibility
January 2, 2024ProFrac Holding Corp. (NASDAQ: ACDC) ("ProFrac", or the "Company") today announced that, on December 27, 2023, it completed the refinancing of its existing Senior Secured Term Loan and other debt with two new financings totaling $885 million, which will both mature in 2029.
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Eastern Bank Welcomes Richard Norberg As Vice President, Underwriter And Portfolio Manager, Asset-Based Lending
January 2, 2024Eastern Bank is pleased to welcome Richard Norberg as Vice President, Underwriter and Portfolio Manager focused on asset-based lending. Based in Boston, Mr. Norberg’s experience spans asset-based lending as well as broader commercial lending, primarily focused on executing and managing asset-based lending solutions for a diverse range of both retail and C&I clients.
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Parker Hudson Names Wes Pickard, Tara Ravi, and Matthew M. Weiss to the Partnership
January 2, 2024Parker, Hudson, Rainer & Dobbs LLP is pleased to announce real estate attorney Wes Pickard, healthcare attorney Tara Ravi, and bankruptcy attorney Matthew M. Weiss have been admitted to the partnership as of January 1, 2024.
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The Secured Lender
SFNet's 80th Annual Convention Issue