MarineMax, a recreational boat and yacht retailer, completed $1.35 billion in senior secured credit facilities. M&T Bank led the facilities as administrative agent and joint lead arranger, along with Wells Fargo Commercial Distribution Finance as joint lead arranger and floor plan agent.
M&T Bank provided a $25 million senior secured revolving credit facility to Rand Capital, a business development company providing alternative financing for lower middle-market companies, which will use the funds for future portfolio investments.
Richard Gold, president and chief operating officer for M&T Bank, intends to retire, effective after Q1/23. Gold plans to remain on the board of directors of M&T Bank.
M&T Bank named Tyré Robinson regional president for Tarrytown, NY. She will also continue to serve in her previous role as business banking lead for the Tarrytown and Hudson Valley regions in New York, a role she has held since 2020.
ABLE Equipment Rental increased its existing asset-based loan with M&T Bank as lead arranger and administrative agent. The $175 million facility is now comprised of a $125 million revolving line of credit along with the original $15 million term loan facility.
The board of governors of the Federal Reserve System provided regulatory approval for M&T Bank’s acquisition of People’s United Financial.
inTEST executed a new five-year credit agreement with M&T Bank. The agreement includes a $25 million non-revolving delayed draw term loan and a $10 million revolving credit facility. This new agreement replaces inTEST’s existing $10 million facility with M&T Bank, which had no borrowings.
MamaMancini’s Holdings, a marketer of specialty pre-prepared, frozen and refrigerated food products, secured an expanded credit facility with M&T Bank in the amount of $10.5 million for the purpose of acquisition financing at an interest rate of 3.5% above one-day LIBOR.
Lazydays Holdings entered into a three-year expanded credit agreement with a syndicate of banks led by M&T Bank. The $369 million credit facility nearly doubles the company’s floorplan capacity.