CIBC promoted Brandon Barr to asset-based lending group head. Barr, who joined CIBC in 2011, previously served as head of business development and strategy for the bank’s ABL group.
Tide Rock, a holding company of B2B businesses, and its investment vehicle, Tide Rock YieldCo, secured a $100 million syndicated revolving loan facility from California Bank & Trust, CIBC Bank and Manufacturers Bank.
KeyBank Specialty Finance, CIBC Bank USA and other lenders increased the aggregate commitments on Runway Growth Finance’s existing revolving credit facility to $500 million.
America’s Car-Mart extended the term of its revolving credit facilities to Sept. 29, 2024, and increased the total permitted borrowings to $600 million. In addition, CIBC Bank USA and Axos Bank joined the lending group.
ING Capital led a $300 million syndicated financing on behalf of Auramet Trading and Auramet International, a precious metals merchant. ING acted as mandated lead arranger, bookrunner and administrative agent on the oversubscribed deal, which closed on July 30.
Douglas Dynamics refinanced its existing $375 million senior secured credit facilities with a new $225 million term loan A facility and a $100 million senior secured revolving credit facility due June 2026. JPMorgan Chase Bank acted as administrative agent for the refinancing.
Context Business Lending increased its warehouse line by adding Texas Capital Bank as joint lead arranger to its warehouse facility led by CIBC Bank USA as agent.
KeyBank Specialty Finance Lending, MUFG, Bank of Hope and CIBC expanded Runway Growth Credit Fund’s revolving credit facility to $215 million with an accordion feature that enables Runway Growth to increase the commitments to up to $300 million.
CIBC Bank provided a $60 million revolving credit facility to Alliance Funding Group, a specialty finance company.
Runway Growth funded three loans and other investments during Q3/20, including a $40 million senior secured term loan commitment to new portfolio company, Porch.com.