JPMorgan Chase promoted Matt Sable to CFO for commercial banking. In this role, Sable and his team will be responsible for planning, managing and running all financial activities for JPMorgan Chase Commercial Banking.
Real estate services firm Cushman & Wakefield closed a previously announced new $1 billion term loan facility with a maturity of Jan. 31, 2030. According to an 8K filed with the SEC, JPMorgan Chase is the administrative and collateral agent for the facility.
JPMorgan Chase opened two new facilities in Mumbai and Bengaluru, strengthening its presence in India. The new workplaces are two of the firm’s largest technology and operations centers.
According to JPMorgan Chase’s 2023 Midyear Business Leaders Outlook survey, 45% of business leaders anticipate a recession before year-end or believe the economy is already in one, down from 65% six months ago.
Corcentric secured a $315 million senior credit facility. The capital raise consists of a $250 million senior secured asset-based loan revolver from Bank of America and JPMorgan Chase and a $65 million term loan from TCW Private Credit Group.
ProPetro extended its existing asset-based loan facility to a new five-year term and expanded its commitments from $150 million to $225 million. Barclays will continue to serve as the agent of the amended ABL along with other participants, including JPMorgan Chase, Bank of America and Goldman Sachs.
Climb Global Solutions, an IT channel company providing sales and distribution solutions for technology vendors, signed an agreement for a five-year, $50 million secured revolving credit facility with JPMorgan Chase.
Daktronics closed on a three-year, $75 million senior secured credit facility with JPMorgan Chase. In addition, Daktronics closed a $25 million convertible debt financing agreement with shareholder Alta Fox Capital Management.
JPMorgan Chase acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the Federal Deposit Insurance Corporation. As part of the purchase, JPMorgan Chase is assuming all insured and uninsured deposits.
Casella Waste Systems acquired operations in three states from GFL Environmental for $525 million. Bank of America, JPMorgan Chase, Comerica Bank and Citizens Bank committed bridge financing to support the deal.