Royal Bank of Canada completed its acquisition of HSBC Bank Canada last week. With the closing of the acquisition, conversion activities have begun, with HSBC Bank Canada’s branches and offices opening today as Royal Bank of Canada locations.
Royal Bank of Canada received approval to proceed with its acquisition of HSBC Bank Canada from Canada’s federal Minister of Finance.
Stampede Drilling entered into a new $50 million credit agreement with HSBC Bank Canada and TD Bank, consisting of a $20 million term loan and two $15 million revolvers.
Quarterhill, a provider of tolling and enforcement solutions for the intelligent transportation system industry, reached an agreement in principle with its existing syndicate of bank lenders led by HSBC Bank Canada on an amendment to the existing credit agreement of a subsidiary.
NFI Group, an independent bus and coach manufacturer, is working to complete a comprehensive refinancing plan, which will include amendments to its existing senior secured credit facilities.
Ritchie Bros. closed an amendment to its credit agreement with a syndicate of lenders to support the closing of its proposed merger with IAA. BofA Securities, RBC Capital Markets, Goldman Sachs and Wells Fargo Securities served as joint bookrunners for the agreement.
HSBC Bank Canada appointed Daniel Hankinson chief financial officer, succeeding Gerhardt Samwell who left HSBC in July to pursue other opportunities. Hankinson is expected to start in the role in September 2022.
NFI Group amended its existing $1.25 billion senior revolving credit facility and £50 million ($61 million) revolving UK credit facility. The Bank of Nova Scotia is the administrative agent for the revolver and HSBC UK is the administrative agent for the UK facility.
Kinross Gold Corporation arranged a new $1 billion term loan. The Bank of Nova Scotia, HSBC Bank Canada and RBC Capital Markets were the joint lead arrangers of the facility.
Shawcor closed on a four-year, $300 million senior secured revolving credit facility. TD Bank and National Bank Financial acted as co-lead arrangers and HSBC Bank Canada, JPMorgan Chase Bank and Export Development Bank acted as lenders for the facility.