As part of a slew of senior executive appointments, CIBC named Hratch Panossian senior executive vice president and head of personal and business banking, while Robert Sedran will assume the role of senior executive vice president and CFO and join the bank’s executive committee.
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.
DMC Global, an owner and operator of manufacturing businesses, closed a five-year, $300 million senior secured credit facility consisting of a $200 million revolving credit facility, a $50 million term loan and a $50 million delayed-draw term loan. KeyBank is serving as administrative agent for the facility.
Digital healthcare company WELL Health Technologies closed the refinancing of a $300 million credit facility for its subsidiary, WELL Health USA, led by JPMorgan Chase Bank.
Victoria Gold further amended its secured debt agreement, dated Dec. 18, 2020, as amended Dec. 20, 2021, June 16, 2022 and Feb. 17, 2023. The loan facility is comprised of a term loan and a revolving credit facility.
Capstone Copper amended its existing revolving credit facility to increase the aggregate commitments from $600 million to $700 million and extend the maturity from May 2026 to September 2027.
CIBC hired Ron Kerdasha as a managing director and senior business development officer for its asset-based lending team. Kerdasha has more than 30 years of experience. Prior to CIBC, Kerdasha served as a regional group head for Fifth Third Business Capital in the Northeast.
CIBC hired Evan Swank as a new business development team member for its asset-based lending team. Swank joined the team as a managing director and business development officer with more than a decade of industry experience.
Channel, a provider of equipment financing and working capital solutions, entered into a new $75 million credit facility with Truist. The $75 million commitment provides financing for both working capital and equipment finance originations.
Non-prime consumer lender goeasy exercised the accordion feature of its revolving credit facility, increasing the facility to $370 million. A banking syndicate including BMO continues to underwrite the facility.