Royal Bank of Canada Archives

Lender Syndicate Amends Ritchie Bros.’ Credit Agreement to Support IAA Merger

Ritchie Bros. closed an amendment to its credit agreement with a syndicate of lenders to support the closing of its proposed merger with IAA. BofA Securities, RBC Capital Markets, Goldman Sachs and Wells Fargo Securities served as joint bookrunners for the agreement.

HSBC Agrees to Sell Banking Business in Canada to Royal Bank of Canada for $10.1B

HSBC Holdings’ wholly-owned subsidiary, HSBC Overseas Holdings (UK) Limited, entered into an agreement to sell its banking business in Canada (HSBC Canada) to Royal Bank of Canada (RBC) for a base cash consideration of C$13.5 billion ($10.1 billion).

November 29, 2022 HSBC | HSBC Canada | Noel Quinn | Royal Bank of Canada Ian Koplin

Royal Bank of Canada Completes Refinancing of Term Loan for GoDaddy

Go Daddy Operating Company and GD Finance closed the credit agreement refinancing announced on Oct. 21, 2022. In connection with the closing, borrowers entered into a sixth amendment to the second amended and restated credit agreement with Royal Bank of Canada.

November 11, 2022 GD Finance | Go Daddy Operating Company | GoDaddy | Royal Bank of Canada Ian Koplin

RBC Leads Syndicate of Lenders Providing $50MM Credit Facility to Dynasty Financial Partners

Dynasty Financial Partners, a provider of back and middle-office outsourced solutions for RIAs, closed a $50 million revolving credit facility with Royal Bank of Canada (RBC) acting as sole administrative agent.

Canadian Imperial Bank of Commerce Expands Capstone Copper’s Revolver to $500MM

Capstone Copper closed the amendment and extension of its corporate revolving credit facility from $225 million to $500 million plus a $100 million accordion and extended the facility by four years. The Canadian Imperial Bank of Commerce is the administrative agent for the facility.

Bank of America Leads $490MM Facility Upsize for FLEETCOR Technologies

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.

Bank of America Leads Syndicate Providing Lucid with $1B Revolving Credit Facility

Lucid Group entered into a credit agreement on June 9 with a syndicate of banks providing a secured asset-based revolving credit facility with an initial committed amount of up to $1 billion. Bank of America is the administrative agent and swingline lender.

Bank of America Leads Upsize of HireRight’s Revolving Credit Facility to $145MM

HireRight Holdings amended and upsized its revolving credit facility, increasing the committed line under the revolving facility to $145 million. Goldman Sachs, Royal Bank of Canada and Barclays joined the syndication, which is led by Bank of America as administrative agent.

Bank of America Leads $4.3B Credit Facility for PBF Energy

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.

Wells Fargo Leads Transition of Select Energy’s ABL to Sustainability-Linked Structure

Select Energy Services transitioned its existing asset-backed loan facility into a sustainability-linked loan facility, while extending the facility through March of 2027. Wells Fargo Bank was the lead arranger for the facility.

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