Gunvor Singapore, a wholly-owned subsidiary of Gunvor Group, closed a $1.035 billion sustainability-linked, syndicated revolving credit facility. The borrower has further upsized the facility by $90 million via an accordion feature, bringing the total facility amount to $1.125 billion.
UBS completed the acquisition of Credit Suisse, with Credit Suisse Group merging into UBS Group. The combined entity will operate as a consolidated banking group.
Cleveland-Cliffs amended and extended its asset-based lending credit facility. The amendment extends the maturity date of the facility to June 9, 2028, and transitions the benchmark interest rate from LIBOR to SOFR. BofA Securities served as lead arranger for the ABL facility.
Due to the planned acquisition of Credit Suisse, Christian Bluhm has agreed to remain in his role as group chief risk officer and member of the group executive board for the foreseeable future, therefore delaying the handover to Damian Vogel that was originally planned for May 1, 2023.
According to Timothy Burniston, a regulatory compliance expert at Wolters Kluwer Compliance Solutions, markets should be reassured by the response of federal regulators to maintain stability in the U.S. banking system in the wake of the collapse of Silicon Valley Bank and Signature Bank.
UBS plans to acquire Credit Suisse. The combination is expected to create a business with more than $5 trillion in total invested assets and sustainable value opportunities. It will further strengthen UBS’s position as a Swiss-based global wealth manager.
DSD Renewables has raised $155 million in debt financing for the first commercial and industrial solar asset-backed securitization with a significant concentration of community solar assets. The transaction was structured and underwritten by Credit Suisse Securities.
Curve closed a deal to fund its first $1 billion in loans with a facility provided by Credit Suisse, enabling Curve to scale its lending business, Curve Flex, across the UK, the EU and the United States.
Flexiti Financial, a point-of-sale consumer financing solution for retailers, upsized its revolving warehouse credit facility from C$500 million ($367.1 million) to C$535 million ($392.9 million) and extended its maturity.
Waldencast Acquisition entered into a credit agreement that features $225 million in term loan and revolving credit facilities. JPMorgan Chase Bank is the administrative agent.