PNC Expands Commercial Banking in Canada
PNC Bank announced it received approval from Canada’s Office of the Superintendent of Financial Institutions for a license to expand commercial banking services across Canada.
PNC Bank announced it received approval from Canada’s Office of the Superintendent of Financial Institutions for a license to expand commercial banking services across Canada.
PNC announced the closing of a $50 million ABL for United Road Services, a portfolio company of Charlesbank Capital Partners. The company is using the funds to acquire Waggoner Trucking’s auto transport division.
New Enterprise Stone & Lime announced it refinanced its facility with a new revolver and term loans providing up to $175 million. PNC acted as administrative agent, and Wells Fargo Bank acted as syndication agent.
Park Electrochemical announced it entered into a revolver with PNC Bank providing for loans of up to $104 million.
ValueVision Media announced it increased the size of its credit facility with PNC Bank from $50 million to $75 million.
PNC Bank said it closed a $13.5 million ABL facility for Legacy Cabinets to refinance existing debts.
PNC announced the appointment of Brian Conway, SVP, southwest regional marketing manager with PNC Business Credit, PNC’s ABL business.
Cloud Peak Energy announced it entered into a commitment letter with Morgan Stanley, PNC, Wells Fargo, JPMorgan Chase, Credit Suisse AG-Cayman Islands, Goldman Sachs, Royal Bank of Canada, and Credit Agricole Corporate and Investment Bank.
PNC Bank announced the closing of $50 million in senior secured financing for a portfolio company of private equity firm Hammond, Kennedy, Whitney & Company. Steel City Capital Funding provided a portion of the financing.
Intcomex closed on a $150 million revolving credit facility maturing in 2019 through PNC Bank and BankUnited. PNC Capital Markets and BankUnited served as co-lead arrangers in the transaction.