Inflation Takes Toll on Employee Financial Stress, Productivity

According to PNC Bank’s inaugural survey about financial wellness in the workplace, seven in 10 employees said they experience stress related to their personal finances. Inflation is a key factor, with 90% of those surveyed saying that they are being negatively affected by inflation.

August 25, 2023 Kaley Keeley Buchanan | PNC Bank Ian Koplin

PNC Promotes Bullock to Commercial Banking Market Leader for Central PA

PNC Bank promoted Zachary Bullock to senior vice president and market leader for commercial banking in central Pennsylvania. Based in PNC’s office in Lancaster, PA, Bullock will oversee PNC’s commercial banking team in the market.

August 18, 2023 Milton Hefft | PNC Bank | Zachary Bullock Ian Koplin

PNC Bank Provides $140MM Credit Facility to Hallador Energy

Hallador Energy entered into a $140 million credit agreement with PNC Bank as the administrative agent, extending the term of the agreement through 2026.

August 4, 2023 Brent Bilsland | Hallador Energy | PNC Bank Ian Koplin

JPMorgan Chase Bank Provides $1B Credit Facility to First Solar

First Solar entered into a five-year revolving credit and guarantee facility for $1 billion. The facility includes up to $250 million which is available for the issuance of letters of credit. JPMorgan Chase Bank acted as lead arranger and is administrative agent for the facility.

July 7, 2023 Bank of America | BNP Paribas | Citibank | Credit Agricole CIB | First Solar | Goldman Sachs Bank | HSBC Bank | J.P. Morgan Chase Bank | Mark Widmar | Mike Lister | MUFG Bank | PNC Bank | Standard Chartered Bank | Truist Bank Ian Koplin

Wells Fargo, PNC and BMO Provide $650MM Credit Facility to Service Properties Trust

Service Properties Trust entered into a $650 million secured revolving credit facility. Wells Fargo Securities, PNC Capital Markets and BMO Harris Bank are the joint lead arrangers and joint lead bookrunners for the credit facility.

July 7, 2023 Bank of America | BMO Harris Bank | Brian Donley | Citibank | Goldman Sachs Bank | JPMorgan Chase Bank | Morgan Stanley Bank | PNC Bank | PNC Capital Markets | Service Properties Trust | UBS AG | Wells Fargo Bank | Wells Fargo Securities Ian Koplin

PNC and Wells Fargo Upsize ABL Facility for Concrete Pumping to $225MM

Concrete Pumping amended and restated an existing ABL credit agreement for a subsidiary to provide up to $225 million (previously $160 million). The $50 million in incremental commitments was provided by PNC Bank, which joined the facility as a joint lead arranger, while $15 million in incremental commitments was provided by JPMorgan Chase.

June 6, 2023 Brundage-Bone Concrete Pumping Holdings | Concrete Pumping Holdings | Iain Humphries | JPMorgan Chase Bank | PNC Bank Ian Koplin

UMB Agents Upsize of Griffin Global Asset Management’s Warehouse Facility

Griffin Global Asset Management upsized its senior secured warehouse facility to $2 billion with a syndicate of 12 banks. UMB Bank is acting as the administrative agent and security trustee for the facility.

April 5, 2023 Bank of America | Bank of Montreal | Barclays Bank | Citibank | Deutsche Bank | Goldman Sachs Lending Partners | Griffin Global Asset Management | John Beekman | Mizuho Bank | Morgan Stanley Bank | Palisade Aviation Holdings | Palisade Aviation Holdings Warehouse | PNC Bank | Societe Generale | Sumitomo Mitsui Banking | UMB Bank | Wells Fargo Bank Ian Koplin

PNC and Angelo Gordon Lead Refinancing Transactions for Glatfelter

Glatfelter Corporation, a supplier of engineered materials, completed several refinancing transactions, including amending its syndicated revolver led by PNC and closing on a $271.88 million term loan from Angelo Gordon.

March 30, 2023 Angelo Gordon | Glatfelter Corporation | Lazard | PNC Bank | Proskauer Rose | Thomas Fahnemann Phil Neuffer

Major US Banks Deposit $30B in First Republic in Wake of Silicon Valley Bank Collapse

Last week, 11 banks, including Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, combined to make $30 billion in uninsured deposits in First Republic Bank to display confidence in the U.S. banking system following the collapse of Silicon Valley Bank.

March 20, 2023 Bank of America | BNY Mellon | Citigroup | First Republic Bank | Goldman Sachs | JPMorgan Chase | Morgan Stanley | PNC Bank | Signature Bank | Silicon Valley Bank | State Street | Truist | U.S. Bank | wells fargo Ian Koplin

PNC Provides Expanded Credit Facility to Evans Transportation Services

Evans Transportation Services closed a new credit facility with PNC Bank to support the company’s current growth trajectory, which includes a revenue increase from $80 million to $400 million since 2018.

December 21, 2022 Evans Transportation Services | Jason Mansur | Luke Tripodi | PNC Bank | Ryan Keepman Phil Neuffer