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.
Ampco-Pittsburgh entered into an amended and restated credit agreement consisting of a $100 million, five-year asset-backed revolving line of credit with a $30 million accordion feature. PNC Bank will continue to serve as administrative agent for the credit facility.
Ribbon Communications executed a third amendment to its credit agreement. Citizens Bank, as administrative agent under the credit facility, led the amendment, which increased Ribbon’s existing term loan A credit facility by approximately $75 million.
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.
Wells Fargo Commercial Distribution Finance served as agent to an amendment to MarineMax’s $440 million credit facility, which now has a three-year term. The facility includes M&T Bank, Bank of the West and Truist Bank as lending partners.
DLH Holdings acquired privately-held Social & Scientific Systems of Silver Spring, MD. First National Bank of Pennsylvania agented a new five-year, $95 million facility to support the transaction.
M&T Bank named Blair Ridder regional president for the New York City market. He will be broadly responsible for 375 employees delivering services to customers and neighborhoods across the metro area.