PNC Archives - ABFJournal

ING, PNC, Fifth Third, BofA and BMO Provide $350MM Credit Facility to Green Plains

Green Plains completed a five-year, $350 million senior secured sustainability-linked revolving credit facility to support general corporate and working capital needs of the company. ING Capital, PNC, Fifth Third, Bank of America and BMO Harris Bank served as joint lead arrangers.

Wells Fargo, PNC, Pathlight Capital Refinance JCPenney Facilities

JCPenney paid off its $506 million term loan and completed a refinancing of its asset-based loan and first in, last out facilities. Wells Fargo and PNC led the refinanced ABL facility, which totals $.175 billion, while Pathlight Capital led the FILO facility, which totals $340 million.

Sterling Provides $20MM Credit Facility to Kore.ai as Part of $70MM Financing Package

Kore.ai, a conversational artificial intelligence software company, raised $70 million in funding, including a $20 million credit facility from Sterling National Bank.

PNC Completes Acquisition of BBVA USA

PNC completed its acquisition of BBVA USA Bancshares, including its U.S. banking subsidiary, BBVA USA. Through this transaction, PNC is now the fifth largest U.S. commercial banking organization, with more $560 billion in assets.

June 2, 2021 BBVA USA | BBVA USA Bancshares | PNC | William S. Demchak Ian Koplin

PNC: Small Business Owners Look to Vaccine-Driven Recovery

Many small and mid-sized business owners strongly support vaccinations for COVID-19 and plan to encourage their employees to get the shots, which are central to a return to normalcy, according to the latest PNC semi-annual national small business survey.

March 2, 2021 Artemis Strategy Group | Gus Faucher | PNC Phil Neuffer

JPMorgan, Wells, PNC and Comerica Close $75MM Revolver for InfuSystem

JPMorgan Chase Bank acted as lead arranger alongside a syndicate of financial banking institutions, including Wells Fargo Bank, PNC Financial Services Group and Comerica Bank, on a $75 million revolving credit facility for InfuSystem, a national healthcare service provider.

Highs and Lows: ABL Leaders Unpack 2020 and Prepare for 2021

To get a handle on how the asset-based lending industry has traversed a tumultuous 2020 and where it is headed in 2021, ABF Journal spoke with executives from Siena Lending Group, Context Business Lending, PNC and BMO Harris in an exclusive Q&A.

PNC Delivers $135MM ABL to Covia in Chapter 11 Emergence

PNC delivered a $135 million asset-based loan to Covia in the company’s recent Chapter 11 emergence. As of emergence, Golden Gate Capital invested in Covia and is now the largest individual shareholder.

PNC, EIP, CION and CrowdOut Provide $80MM in Debt Refinancing for Williams

PNC provided a $30 million revolving credit facility for Williams Industrial Services, while EIP, CION and CrowdOut Capital together provided a $35 million term loan and a $15 million delayed draw term loan. G2 Capital Advisors served as financial advisor on the debt refinancing.

Westlake Secures $160MM in Capital From PNC and Carlyle for Zippy Shell

Middle market investment bank Westlake Securities secured $160 million of committed senior and junior capital, in aggregate, from PNC Bank and The Carlyle Group’s global credit platform for Zippy Shell.

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