CIBC joined RMI’s Center for Climate-Aligned Finance as a strategic partner. According to CIBC, it is the first Canadian bank to partner with the center’s efforts to align financial decision-making with the long-term decarbonization of the real economy.
Bank of Montreal acted as joint bookrunner, co-lead arranger and administrative agent; CIBC acted as joint bookrunner and co-lead arranger; and BNP Paribas acted as co-lead arranger on a $200 million debt facility for Victoria Gold.
A syndicate of banks led by the Canadian Imperial Bank of Commerce provided a $140 million revolving credit facility to Converge Technology Solutions, a software and IT solutions provider.
CIBC Bank provided a new asset-based credit facility to Armor Express to enhance the company’s financial flexibility and support its growth.
CIBC expanded its U.S. asset-based lending capabilities in Buffalo, NY, by naming Nathan Love managing director of business development. Love joined CIBC from PNC Business Credit.
A lending syndicate led by Bank of Montreal expanded Pure Sunfarms’ credit facility to its full C$59 million ($43.41 million) capacity with the completion of the facility’s accordion feature. The syndicate also includes Farm Credit Canada and CIBC.
CIBC promoted Alan Spurgin to head of U.S. Innovation Banking, a full-service lending team that delivers strategic advice and funding to technology and innovation clients.
Next Edge Capital closed a revolving credit facility for $47.5 million with CIBC1 and NELI Canada LP2, a special purpose funding vehicle utilized by the Next Edge Private Debt Fund.