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.
M&T Bank appointed Group Vice President Glenn Jackson chief diversity officer of the bank. He succeeds Carl Jordan, who announced his retirement after a 32-year career at M&T.
Accord Financial signed a new senior secured revolving credit facility totaling $292 million with a syndicate of banks. The Bank of Nova Scotia acted as administrative agent, sole arranger and sole bookrunner on the transaction.
New Jersey-based electronics manufacturer Bel Fuse amended its credit facility, increasing the revolver to $75 million and its term loan to $175 million.