Of Interest

Confidence in Equipment Finance Market Increases in March

Overall, confidence in the equipment finance market increased for the third consecutive month to 55.2 in March, up from the February index of 51.7, and the highest level since April 2022, according to the Equipment Leasing & Finance Foundation’s March 2024 Monthly Confidence Index. read more

Hitachi and Penske Truck Leasing Launch Large-Scale Electric Truck Charging Pilot Program

Hitachi America, Hitachi Energy and Penske Truck Leasing launched a large-scale, centralized electric truck charging solution to support Penske’s electric truck deployments for its customers in the Stockton, CA, area. read more

United Rentals Introduces Tower Crane Battery Energy Systems to North American Fleet

Equipment Rental company United Rentals has added battery energy systems for tower cranes to its North American rental fleet. read more

United Rentals Prices Private Offering of $1.1B of Senior Notes to Finance Yak Access Acquisition

United Rentals priced an offering of $1.1 billion principal amount of 6.125% senior notes due 2034 in a private offering. The company will use the net proceeds to help finance the acquisition of Yak Access and to pay related fees and expenses. read more

Economic Activity in Hospital Subsector Grew for Sixth Consecutive Month in February

Economic activity in the hospital subsector grew in February for the sixth 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

Operating Expenses Take a Bigger Share of U.S. Corporate Revenues in Q4/23

The median ratio of operating expenses compared to total revenues for companies rated BBB- or higher rose to 83.7% in the fourth quarter of 2023 from 82.2% in the third quarter, according to the latest data from S&P Global Market Intelligence. read more

Businesses Owned by Women Increased Revenues by 15.5% in 2023

According to Biz2Credit’s Women-Owned Business Study, earnings for small businesses owned by women remained steady in 2023 while average annual revenue for businesses owned by women increased 15.5%. read more

First Citizens Bank Provides $1MM Line of Credit to Hemp-Derived Cannabinoids Supplier

First Citizens Bank’s cannabis banking business provided a $1 million working capital line of credit to MC Nutraceuticals, a global supplier of hemp-derived cannabinoids. read more

Equifax Launches Business Verification Solution

Equifax is launching a real-time, know your business, online business verification solution to help U.S. lenders and businesses make faster, more informed decisions before onboarding new accounts and/or vendors. read more

Atlantic Union Bank Delivers $30MM Credit Facility to Renewable Energy Real Estate Investment Company

SolaREIT, a renewable energy real estate investment company, closed on a revolving credit facility with Atlantic Union Bank that provides $30 million of liquidity to allow SolaREIT to continue to scale its business and expand financing solutions for solar and storage developers. read more

ACT Research: Used Class 8 Truck Values Linger at 2021 Lows in January

According to ACT Research, used Class 8 average retail sale prices improved 2.6% month over month to $59,400 in January. The last time retail prices were this low was in the spring of 2021. read more

ACT Research: Low Trailer Orders and High Cancellations in January

Weak freight rates continue to reduce carriers’ willingness to invest in equipment, resulting in low trailer orders and high cancellations in January, according to ACT Research. read more

GemCap Implements FGI T.R.U.S.T. for Risk Mitigation

GemCap, a Texas-based provider of revolving credit facilities, term loans and factoring facilities for small and medium-sized businesses across the U.S. and Canada, chose FGI Worldwide’s T.R.U.S.T. platform as a risk mitigation solution for client credit insurance policies. read more

CNH Makes Minority Investment in Drone Imaging AI Company Bem Agro 

Equipment and services company CNH’s investment arm, CNH Ventures, took a minority stake in Bem Agro, a Brazilian startup that uses artificial intelligence to convert aerial field images — including those taken from machines, drones and satellites — into agronomic mapping reports. read more

Truist Sells $15.5B Insurance Brokerage Business to Private Equity Firms

Truist Financial reached a definitive agreement to sell its remaining stake in Truist Insurance Holdings, a subsidiary of Truist and the fifth largest insurance brokerage in the U.S., to an investor group led by private equity firms Stone Point Capital and Clayton, Dubilier & Rice. read more

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