CIBC joined RMI’s Center for Climate-Aligned Finance as a strategic partner. According to CIBC, it is the first Canadian bank to partner with the center’s efforts to align financial decision-making with the long-term decarbonization of the real economy.
According to a JPMorgan Chase survey, nearly half (44%) of small businesses have explored online lending in the past year, with 25% procuring an online loan. For the upcoming year, 56% said they would be open to procuring an online loan if they find themselves in need of capital.
Apollo Investment Corporation extended the final maturity of its senior secured revolving credit facility by approximately two years. JPMorgan Chase, Truist Securities, BMO Capital Markets and MUFG Union Bank are joint bookrunners and joint lead arrangers on the facility.
Avianca Holdings secured commitments for debtor-in-possession financing totaling more than $2 billion and filed a motion to approve the financing in the U.S. Bankruptcy Court. Goldman Sachs Lending Partners and JPMorgan Chase are serving as co-lead arrangers.
Whiting Petroleum completed its financial restructuring and emerged from Chapter 11 protection. According to an 8K, JPMorgan Chase is serving as administrative agent for a $750 million reserve-based revolving credit facility as part of Whiting’s new capital structure.
GPI Capital and JPMorgan Chase Bank provided growth financing of up to $100 million to Pharmapacks, an ecommerce enablement platform and retail seller for brands across ecommerce marketplaces.
Contango entered into an amendment to its credit agreement, with JPMorgan Chase as administrative agent, which includes a reduction of its borrowing base to $95.0 million.
RS Technologies entered into a credit agreement with JPMorgan Chase Bank, Toronto Branch, for a five-year term that provides for senior secured debt financing.
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.
The global trade finance market will grow at a CAGR of more than 4% or by $11.25 billion between 2020 and 2024, according to research and advisory company Technavio.