- Morgan Lewis Advises Nebius on $5.75 Billion Convertible Bond Offering and $800 Million Convertible Bond Exchange
- H.I.G. Capital Expands Its Capital Formation Team with the Addition of Tim Hsu and Chris Todisco
- CMC Railroad Announces $87.9 Million Credit Facility with Bank of Texas to Support Expansion at Gulf Inland Logistics Park
- Commercial Finance Partners Closes $1.5MM Accounts Receivable Facility for Fabric and Textile Wholesaler
- Cornerstone Research Announces New Senior Vice President Promotions
TSL Express Daily Articles & News
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PNC Announces Agreement To Buy BBVA USA Bancshares, Inc.
The PNC Financial Services Group, Inc. (NYSE: PNC) and the Spanish financial group, Banco Bilbao Vizcaya Argentaria, S.A. (NYSE and MAD: BBVA) today announced that they have signed a definitive agreement for PNC to acquire BBVA USA Bancshares, Inc., including its U.S. banking subsidiary, BBVA USA, for a purchase price of $11.6 billion to be funded with cash on hand in a fixed price structure.
BBVA USA Bancshares, with $104 billion in assets and headquartered in Houston, Texas, provides commercial and retail banking services through its banking subsidiary BBVA USA and operates 637 branches in Texas, Alabama, Arizona, California, Florida, Colorado and New Mexico. When combined with PNC's existing footprint, the company will have a coast-to-coast franchise with a presence in 29 of the 30 largest markets in the U.S.
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TSL Express Daily Headlines & News
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Huron Amends and Extends Senior Secured Credit Facility
October 1, 2019Among other items, the amended credit facility extends the maturity date from March 23, 2023 to September 27, 2024; increases the aggregate revolving commitments from $500 million to $600 million.
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Tradewind Funds Tire Supplier Based in China
October 1, 2019Tradewind has closed a deal with a tire company based in China to provide a recurrent facility of $800,000 to support the company’s export business to the USA. The supplier, whose products are sold globally, has additional branches in the United States, Africa, and Southeast Asia.
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InterNex Capital Announces Recently Completed Transactions
October 1, 2019InterNex Capital announces recently completed transactions powered by Velocity, InterNex’s underwriting and business analytics platform.
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People’s Capital and Leasing Corp Appoints Gerald LaPorta as Southeast Regional Vice President
October 1, 2019LaPorta will be responsible for the growth of PCLC’s equipment sales finance business, primarily focused on Transportation, and the growth of PCLC’s other equipment markets.
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TAB Bank Provides Supply Chain Management Company in Ohio with a $5 Million Revolving Credit Facility
October 1, 2019The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
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Senior Financial Executive Mark Fagnani Joins Clear Thinking Group
October 1, 2019Clear Thinking Group LLC announced today that Mark Fagnani has joined the firm as a Senior Managing Director. Mr. Fagnani has more than 30 years of hands-on experience working with large bank groups, private equity sponsors, turnarounds, workouts and insolvencies.
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CIT Bank Provides Nebraska Book Company New Credit Facility
October 1, 2019Nebraska Book Company (NBC) entered into a new five-year, asset-based loan facility with CIT Bank. Part of the proceeds will be used to replace its existing credit facility with Callidus Capital Corporation, which will mature in January 2020.
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Hamilton Thorne Announces US$7.5 Million Line of Credit
October 1, 2019Expansion of Operating Line of Credit to $4.5 Million; Renewal of $3 Million Acquisition Line of Credit
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Conifex Amends Senior Credit Facility
October 1, 2019Conifex Timber Inc. (TSX: CFF) (“Conifex”) announced today that it has amended its lumber segment senior secured credit facility with its senior lenders to, among other things, provide additional short-term liquidity and waive certain covenants and milestones.
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U.S. Xpress Enterprises Announces Amendment to Credit Facility
October 1, 2019U.S. Xpress Enterprises, Inc. (NYSE:USX) (the “Company”), the nation’s fifth largest asset-based truckload carrier by revenue, today announced that it has amended the Company’s credit facility.
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Rayonier Advanced Materials Announces Credit Agreement Amendment Providing Financial Covenant Relief Through 2021
October 1, 2019Rayonier Advanced Materials Inc. (the “Company”) today announced that it has reached agreement with lenders under its Senior Secured Credit Agreement and entered into an amendment (the “Amendment”) under which, among other changes, the lenders have agreed to relax the Total Net Senior First Lien Secured Leverage Ratio and Interest Coverage Ratio tests through 2021.
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North Mill Capital Announces the Funding of an Accounts Receivable Facility to Metromedia Technologies, Inc.
September 30, 2019The funds will be used to pay off the previous lender and provide additional working capital for the company.
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Gibraltar Business Capital Announces Another Increase in its Credit Facility with Wells Fargo
September 30, 2019Gibraltar Business Capital, an industry leader in alternative financing for middle-market businesses, announced an increase in its credit line with Wells Fargo, N.A. In 2018, Wells Fargo raised Gibraltar’s facility from $75 million to $100 million. This new increase takes the line up to $125 million, giving the asset-based lender additional capacity to serve its market.
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Capital One Leads Senior Credit Facility for e2p’s Acquisition of Daniele
September 30, 2019Capital One announced today that it led a senior credit facility in support of the acquisition of Daniele International, LLC (“Daniele” or the “Company”) by Entrepreneurial Equity Partners (“e2p”). Capital One acted as lead arranger and administrative agent for the transaction.
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Celtic Capital Corporation Announces New Client Relationship
September 30, 2019Celtic Capital Corporation today announced its most recent new client relationship – a California-based Company that distributes dry and frozen vegetarian food products.
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Wesdome Gold Mines Closed Its Previous Announced Refinancing of Credit Facility
September 30, 2019Wesdome Gold Mines Ltd. (TSX: WDO) (the “Company”) is pleased to announce that on September 27, 2019 it closed its previously announced senior secured revolving credit facility (“NBF Facility”), with National Bank Financial Inc. (“NBF”) acting as the sole arranger.
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ESCO Announces New Credit Facility
September 30, 2019The bank syndication supporting the new facility is comprised of a diverse group of eight banks led by JPMorgan Chase Bank, N.A. as Administrative Agent and BMO Harris Bank, N.A as Syndication Agent.
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Applied Data Finance Upsizes Senior Credit Facility to $350 Million
September 30, 2019Applied Data Finance, LLC (ADF), a leading technology-enabled lender and asset manager, announced today that it has upsized its current senior credit facility with Victory Park Capital Advisors, LLC (VPC) from $200 million to $350 million.
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Equipment Leasing and Finance Association’s Survey of Economic Activity: Monthly Leasing and Finance Index
September 30, 2019The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for August was $9.2 billion, up 3 percent year-over-year from new business volume in August 2018.
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Installed Building Products Announces Closing of $300 Million Notes Offering and a New and Increased $200 Million ABL Revolving Credit Facility
September 30, 2019Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced the closing of the private offering of $300 million in aggregate principal amount of 5.75% senior unsecured notes due February 1, 2028 (the “Notes”).
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