United States Steel completed an amendment and restatement of its $1.75 billion asset-based sustainability-linked credit facility. JPMorgan Chase served as administrative agent.
Sprouts Farmers Market closed a $700 million revolving credit facility under a credit agreement dated as of March 25. Bank of America acted as administrative agent, issuing bank and swingline lender for the facility.
Webster Financial and Sterling Bancorp completed their previously announced merger. The combined company is a financial institution with a funding base that includes HSA Bank as well as consumer and commercial banking businesses.
Columbia Banking System, the parent company of Columbia State Bank, and Umpqua Holdings Corporation, the parent company of Umpqua Bank, entered into a definitive agreement under which the companies will join together in an all-stock combination.
The Secured Finance Network (SFNet) added to its executive and management committees for fiscal year 2022. These leaders guide the association, make policy decisions, confirm new members and provide thought leadership in advocacy and education.
Thoma Bravo completed its acquisition of Stamps.com for approximately $6.6 billion in cash. Blackstone Credit, credit funds managed by Ares Management, PSP Investments Credit II and Thoma Bravo Credit provided debt financing for the transaction.
J.P. Morgan Securities and ING Capital amended U.S. Steel’s $2 billion asset-based revolving credit facility to include an increase or decrease in the margin payable based on achievement of targets related to carbon reduction, safety performance and facility certification by ResponsibleSteel.
SouthState Corporation and Atlantic Capital Bancshares signed a definitive agreement pursuant to which Atlantic Capital will merge with and into SouthState in an all-stock transaction with an aggregate value of approximately $542 million.
JPMorgan and Others Expand Dominion Energy’s Credit Facilities, Introduce Sustainability-Linked Pricing
Dominion Energy completed the syndication of sustainability-linked credit facilities totaling $6.9 billion, including a $6 billion master credit facility for which JPMorgan Chase Bank, Mizuho Bank, BofA Securities, The Bank of Nova Scotia and Wells Fargo Securities acted as joint lead arrangers.
Old National Bancorp and First Midwest Bancorp entered into a definitive merger agreement to combine in an all-stock merger of equals transaction with a total market value of $6.5 billion to create a bank with $45 billion in combined assets.