The COVID-19 pandemic is historically unprecedented, but its effects on the financial world are not wholly unique. Hugh Larratt-Smith uses the turn of the 20th century as a historical parallel and speaks with several prominent members of the asset-based lending community to get their thoughts on how the market will develop during the second half of 2021 as the pandemic (hopefully) recedes.
Apartment Income REIT closed a new $1.4 billion credit facility. PNC Capital Markets and Wells Fargo Securities led the syndication as joint bookrunners and lead arrangers. PNC Bank is also the administrative agent and sustainability agent for the facility.
People’s United Bank, a subsidiary of People’s United Financial, extended and expanded its existing revolving credit facility for EPSG.
People’s United Bank acted as lead arranger to provide North Star Leasing with a four-year, $80 million expandable senior revolving credit facility.
The Healthcare Finance Division of People’s United Bank provided a $61 million credit facility to Brightview Senior Living, a privately held real estate development and property management company specializing in multifamily and senior living communities.
Suburban Propane Partners refinanced the $500 million senior secured credit facility of its operating partnership, Suburban Propane.
EPSG, an integrator of payment technology solutions, closed a revolving credit facility with People’s United Bank and has adopted their eTreasury + Business Online Banking System and Wire Transfer Service.
Toll Brothers entered into a five-year $1.905 billion revolving credit facility to replace the company’s existing $1.295 billion revolving credit facility, which was scheduled to mature in May 2021.
Patrick Donnelly has been appointed senior vice president, Nonprofit Banking for People’s United Bank Nonprofit Specialty Finance Group.