Of Interest

Asset-Based Lending Commitments Grew in 2023 with Fewer New Clients, Larger Deals

Despite economic twists and turns in 2023, the asset-based lending market experienced growth in commitments of working capital, according to the Secured Finance Network, which noted that while there were fewer new client deals last year than in 2022, deals were larger in size.  read more

Encina Lender Finance Closes $22.5MM Credit Facility for Auto Finance Platform

Encina Lender Finance closed a $22.5 million senior credit facility for an indirect auto finance platform with a track record of more than two decades. The borrower will use this facility to support growth. read more

U.S. Senate Considering Legislation to Extend $7.5MM Debt Sublimit for Subchapter V

The U.S. Senate is considering an extension of the current Subchapter V debt sublimit within Chapter 11 bankruptcy filings following the introduction of legislation that would push out the expiration date for the $7.5 million threshold to 2026. read more

Penske Truck Leasing Unveiling AI Platform for Fleet Management

Penske Truck Leasing unveiled Catalyst AI, an artificial intelligence platform for fleet management that delivers real-time insights into fleet performance. read more

MidFirst Bank to Acquires 6 Houston Banking Locations of Amerant Bank

MidFirst Bank entered into a definitive agreement to acquire the Houston banking locations of Amerant Bank, the main subsidiary of Amerant Bancorp. MidFirst will will gain Amerant’s Houston client relationships totaling approximately $576 million in deposits and $529 million in loans. read more

Citizens Financial Hires Former Morgan Stanley Exec to Lead Wealth Management Business

Paul Casey will join Citizens Financial as head of wealth management, effective July 9. Casey has more than two decades of experience from Morgan Stanley, where he held increasingly responsible leadership positions. read more

First Horizon Promotes Bell to Chief Investment Officer of Wealth Management Business

First Horizon promoted Tracy Bell to chief investment officer of First Horizon Advisors, the wealth management subsidiary of First Horizon. In this role, Bell will lead the First Horizon Advisors investment team in addition to the bank’s Women & Wealth client initiative. read more

MUFG Provides $136MM in Financing for Municipal Solar Project in Florida

Origis Energy, a renewable energy and decarbonization company, closed a $136 million construction financing facility and conversion to term loan with MUFG for its Rice Creek Solar project under construction in Putnam County, FL. read more

SFNet Reports Asset-Based Lending ‘Performed Well’ Overall in Q4/23

The resilience of the asset-based lending market continued in Q4/23, with lenders holding on to positive sentiment against the backdrop of an uneven economy while closely watching portfolios in 2024, according to data released by the Secured Finance Network. read more

Finastra Launches Small Business Data Collection Module to Aid with Section 1071 Compliance

Finastra launched a small business data collection module designed to help banks comply with the Equal Credit Opportunity Act small business data collection requirements mandated by Section 1071 of the Dodd-Frank Act. read more

Seward & Kissel Formalizes Private Credit Practice

Law firm Seward & Kissel formalized its private credit group to handle work within the rapidly expanding private credit asset class, which is now valued at $1.6 trillion, according to the firm. The new practice will reside within Seward & Kissel’s corporate finance practice. read more

Global PC Shipments Return Pre-Pandemic Volumes in Q1/24

After two years of decline, the worldwide traditional PC market returned to growth during Q1/24 with 59.8 million shipments, growing 1.5% year over year, according to International Data Corporation. read more

Economic Activity in Hospital Sector Grew in March for Seventh Straight Month

Economic activity in the hospital subsector grew in March for the seventh consecutive month after contracting twice in the previous four-month period, with 35 consecutive months of growth prior to that, according to the latest Hospital ISM Report on Business from the Institute for Supply Management. read more

BMO Updates Sustainable Bond Framework with New Financing Categories

BMO made changes to its Sustainable Bond Framework to expand the existing uses of the framework’s proceeds criteria, including financing activities related to nuclear energy, low-carbon fuels, the electrification of industrial activities and climate change adaptation. read more

U.S. Treasury Identifies Cybersecurity Risks and Challenges of AI in Financial Services

According to a recent report from the U.S. Department of the Treasury, there is a widening gap between large and small financial institutions when it comes to in-house AI systems, with the rise of AI creating additional cybersecurity and fraud challenges. read more

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