America’s Car-Mart extended the term of its revolving credit facilities to Sept. 29, 2024, and increased the total permitted borrowings to $600 million. In addition, CIBC Bank USA and Axos Bank joined the lending group.
U.S. Bancorp entered into a definitive agreement to acquire MUFG Union Bank’s core regional banking franchise from Mitsubishi UFJ Financial Group. Under the terms of the agreement, U.S. Bancorp will purchase MUFG Union Bank for approximately $8 billion.
Rite Aid entered into an amendment to its senior secured credit agreement, which consists of a $2.8 billion senior secured asset-based revolving credit facility and a $350 million first in, last out senior secured term loan. Bank of America will continue to act as administrative agent for the facilities.
Brian Gunn will join MUFG as chief risk officer for MUFG Americas Holdings Corporation and its primary banking subsidiary, MUFG Union Bank, effective Sept. 13. Gunn will succeed Donna Dellosso, who announced her decision to retire in May of this year.
Apollo Medical Holdings refinanced its existing term loan and revolving credit facility with a new five-year revolving credit facility of $400 million. Truist Bank served as administrative agent.
Mitsubishi UFJ Financial Group appointed Neal Holland CFO of MUFG Americas Holdings and its primary banking subsidiary, MUFG Union Bank, effective June 1. Holland will succeed Johannes Worsoe, who has served as CFO since 2016.
MUFG Union Bank named Anvar Hodjaev head of healthcare for its commercial banking division. As head of healthcare, Hodjaev will expand the bank’s commitment to deliver holistic banking and capital markets solutions and help clients with their sector-specific challenges and unique needs.
MUFG Union Bank served as the coordinating lead arranger for a $440 million senior secured credit facility for Nexamp, a renewable energy generator and community solar provider. The financing is for a 380-megawatt portfolio of solar and energy storage assets.
MUFG Union Bank hired Rob Swanson as managing director and Northern California market president. Prior to joining MUFG, he served as a managing director and market executive for the western region at Wells Fargo, covering technology banking.
Truist Securities, JPMorgan and MUFG Union Bank served as joint lead arrangers on the expansion and extension of a revolving credit facility for Sixth Street Specialty Lending.