National General Holdings entered into an amendment to its existing $225 million credit agreement that increased its letter of credit sublimit to $112.5 million.
KeyCorp has closed its acquisition of First Niagara Financial Group. Systems and client conversion is expected during the fourth quarter of 2016, subject to pending regulatory approval by the Office of the Comptroller of the Currency for the merger of First Niagara Bank into KeyBank.
KeyCorp and First Niagara Financial entered into a definitive agreement under which KeyCorp will acquire First Niagara in a cash and stock transaction for total consideration valued at approximately $4.1 billion.
Bloomberg reported that shares of First Niagara Financial climbed the most in almost seven years following reports that the lender is exploring a possible sale or other alternatives.
First Niagara Financial said its Commercial Finance Group arranged a $20 million credit facility for Crosman Corporation, an air rifle manufacturer.
First Niagara said it closed on a $20 million revolver with Calypso St. Barth. The bank said the financing package was arranged by its asset-based lending group, Fist Niagara Commercial Finance.
First Niagara Financial Group named Jeff L. Hubbard to serve as New England regional president, leading the company’s New Haven-based team of bankers across Connecticut and Massachusetts.