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.
Barclays Bank, Capital One, J.P. Morgan Securities, RBC Capital Markets, TD Securities and Truist Securities acted as joint bookrunners and joint lead arrangers for the refinancing of RadNet’s term loan and revolving credit facility.
The boards of directors of Webster Financial and Sterling Bancorp unanimously approved a definitive agreement under which the two companies will combine in an all-stock merger of equals transaction with a total market value of approximately $10.3 billion.
Platinum Equity entered into a definitive agreement to acquire Club Car from Ingersoll Rand in a transaction valued at approximately $1.7 billion. BofA Securities will lead the debt financing for Platinum Equity and Club Car in connection with the transaction.
Eastern Bankshares, the stock holding company for Eastern Bank, and Century Bancorp, the stock holding company for Century Bank and Trust Company, entered into a definitive all-cash merger agreement with an aggregate transaction value of $642 million.
JPMorgan Chase Bank, Morgan Stanley Senior Funding, Goldman Sachs, UBS Investment Bank, Bank of America, Barclays and Jefferies are arranging debt financing in support of Clearlake Capital Group’s new equity investment in RSA Security.
M&T Bank and People’s United Financial entered into a definitive agreement under which M&T will acquire People’s United in an all-stock transaction. The implied total transaction value based on closing prices on Feb. 19, 2021, is approximately $7.6 billion.