Fifth Third Bank named Kala Gibson chief enterprise corporate responsibility officer and head of business banking. Fifth Third also promoted Stefanie Steward-Young to chief corporate social responsibility officer and Jada Grandy-Mock to chief corporate community and economic development officer.
The Paycheck Protection Program has been top of mind for many lenders, particularly banks. ABF Journal learned about the experience of bank-owned asset-based lending groups with the program as well as expectations and concerns for the future in conversations with four leaders in the industry.
Purple Innovation executed a new five-year $100 million senior secured credit facility, consisting of a $45 million term loan and a $55 million revolving line of credit, with a group of financial institutions led by KeyBanc Capital Markets.
Fortegra Financial, a specialty insurer and subsidiary of Tiptree, closed on a $200 million senior secured credit facility from a syndicate of banks led by Fifth Third Bank.
Fifth Third served as financial advisor to Radio Systems in its acquisition by Clayton, Dubilier & Rice. Fifth Third Business Capital was administrative agent for the asset-based acquisition financing.
A syndicate of banks led by Citigroup Global Markets amended Harsco’s existing senior secured credit facilities. The required levels of the existing total net leverage ratio covenant will be increased through Dec. 31, 2021.
According to an 8K filed with the SEC, JPMorgan Chase served as administrative agent on the refinancing of Office Depot’s existing asset-based credit facility, which now consists of a $1.2 billion revolving credit facility and a $100 million first-in, last-out facility.
According to an 8K filed with the SEC, Deutsche Bank, Bank of America, Credit Suisse, Truist Bank, Wells Fargo Bank, Fifth Third Bank, HSBC Bank USA and MUFG Bank upsized Marriott Vacations Worldwide’s warehouse credit facility to $531 million.
As part of a syndicate of 14 banks, Citigroup served as a joint lead bookrunner and joint lead arranger for a new $280 term loan facility for Harsco Corporation.