AP Equipment Financing finalized a $200 million credit facility from Wells Fargo to capitalize on increasing demand from customers and dealer partners.
William M. Daley, vice chairman of public affairs of Wells Fargo, will retire at the end of the year. Daley joined Wells Fargo in 2019 from BNY Mellon to lead public affairs and is also the former chief of staff for President Barack Obama.
Aircraft asset manager Aviation Capital Group closed a $500 million secured credit facility in support of its aircraft financing solutions business. BNP Paribas and Société Générale structured the facility.
Tecta America completed a $210 million incremental first lien term loan through joint lead arrangers Wells Fargo and RBC Capital Markets. Additionally, Tecta added $20 million of revolver capacity to its existing $165 million facility to support continued M&A and general corporate purposes.
Post Road Equipment Finance increased its non-recourse senior warehouse facility from $550 million to $700 million through the addition of Wells Fargo as a new lender.
Greenbacker Renewable Energy Company closed on a new warehouse financing facility in an initial aggregate principal amount of $75 million. Wells Fargo serves as sole lead arranger, bookrunner, sustainability structuring agent and administrative agent for the facility.
Malcolm Price joined the corporate and investment bank of Wells Fargo as head of financial sponsors. Price joined Wells Fargo from Credit Suisse, where he was most recently global head of financial sponsors and global co-head of private equity and leveraged finance.
Wells Fargo named Dawson Her Many Horses, head of Native American banking, a managing director for the bank. Her Many Horses belongs to the Rosebud Sioux Tribe of South Dakota and is one of the first enrolled tribal members to be promoted to managing director at a major U.S. bank.
Cleveland-Cliffs amended and extended its asset-based lending credit facility. The amendment extends the maturity date of the facility to June 9, 2028, and transitions the benchmark interest rate from LIBOR to SOFR. BofA Securities served as lead arranger for the ABL facility.
Wells Fargo promoted Bernie Ramos, a 16-year veteran of the company, to managing director and Hispanic segment leader within its commercial banking division. Ramos joined Wells Fargo in 2007 as a relationship manager and has more than 20 years of experience.