PNC Bank provided a new five-year, $35 million debt facility to Luna Innovations, a provider of advanced fiber optic-based technology. The facility includes a $20 million term loan facility and a $15 million revolving credit facility.
FLEETCOR Technologies amended its pro-rata credit facility, increasing the overall facility size from $4.01 billion to $4.5 billion and extending the maturity to a new five-year term ending in June 2027. Bank of America is the administrative agent.
Cvent, a meetings, events and hospitality technology provider, closed a $500 million, five-year senior secured revolving credit facility through a syndicate of banks led by PNC Bank, with Cvent as borrower.
Karen Larrimer, head of retail banking and chief customer officer at PNC, will retire after more than 27 years with the bank. Alex Overstrom, PNC’s current head of small business and deputy head of retail banking, will assume responsibility for leading the retail banking line of business.
PBF Energy completed a multi-year extension of its asset-based revolving credit facility, with an aggregate commitment of $4.3 billion. Bank of America is the joint lead arranger, joint bookrunner and administrative agent for the 35-bank syndicate participating in the credit facility.
AMETEK completed an amended and restated revolving credit facility, increasing the size from $1.5 billion to $2.3 billion. JPMorgan Chase Bank, Bank of America, PNC Bank, Truist Bank and Wells Fargo Bank, acted as joint lead arrangers and joint book managers for the credit facility.
PNC Bank launched a new minority business development group, which will focus on advancing the financial wellness of emerging minority-owned businesses. Marshalynn Odneal, national sales executive for minority business, will lead this national effort.
Sprouts Farmers Market closed a $700 million revolving credit facility under a credit agreement dated as of March 25. Bank of America acted as administrative agent, issuing bank and swingline lender for the facility.
Group 1 Automotive completed a $2 billion five-year revolving syndicated credit facility with 21 financial institutions, including U.S. Bank, Bank of America and JPMorgan Chase.
Pyxus International, a global value-added agricultural company, entered into a $100 million asset-based lending credit facility with PNC Bank, effective Feb. 8.