News

Amur Equipment Finance Enters Lease-to-Own Program Agreement with Side Dump Trailer Manufacturer

Amur Equipment Finance entered into an agreement to provide a lease-to-own financing program to for qualified customers of SmithCo, a side dump trailer designer and manufacturer. read more

Simpson Thacher & Bartlett Promotes McGovern to Senior Counsel, Elevates 23 Attorneys to Counsel

Law firm Simpson Thacher & Bartlett promoted Amanda H. McGovern to senior counsel for its private funds and family office practice in New York while elevating 23 other professionals to counsel across multiple disciplines, including capital markets and M&A. read more

ACT Research: Slow Going on Truckload Cycle Bottoming Process

According to ACT Research’s latest Freight Forecast, U.S. Rate and Volume Outlook report, freight markets are expected to continue bouncing along the bottom in the near term, with some holiday volatility and a change in trajectory on the way next year. read more

MUFG Closes $275M in Financing Facilities for Summit Ridge Energy

Summit Ridge Energy, a commercial solar company, announced a $275 million expansion of its existing partnership with MUFG through two new debt facilities. The $275 million upsize increases the previous $100 million partnership between Summit Ridge Energy and MUFG. read more

AerCap Acquires 5 General Electric GE90 Engines from Sanad

Aircraft lessor AerCap acquired five General Electric GE90-115B engines from Sanad, the global aerospace engineering and leasing solutions company wholly-owned by Abu Dhabi's sovereign investor, Mubadala Investment Company. read more

SunExpress to Buy up to 90 Boeing 737 MAX Jets

SunExpress, a joint venture of Turkish Airlines and Lufthansa, committed to purchase up to 90 single-aisle Boeing jets at the Dubai Airshow earlier this month. read more

Channel Closes $190MM Equipment Finance Securitization

Channel completed a second equipment finance securitization, a $190 million issuance of asset-backed notes collateralized by a portfolio of equipment receivables. The notes consist of four classes, rated AA (sf), A (sf), BBB (sf) and BB+ (sf) by Kroll Bond Rating Agency. read more

More Than Half of Fleets Prefer Lease Structure for Alternate Fuel Trucks

According to Fleet Advantage’s latest benchmark survey, when asked what type of financing options would make the most sense for adopting alternate fuel trucks, 52% of respondents said they would prefer a lease finance structure. read more

Vmo Aircraft Leasing Completes Sale and Leaseback of Boeing 737 MAX 8 with SmartLynx Airlines

Vmo Aircraft Leasing executed a sale and leaseback transaction for one Boeing 737 MAX 8 aircraft with Latvia-based operator SmartLynx Airlines. The aircraft was delivered to the airline in late October. read more

October Class 8 Truck Orders Driven Largely by Segments with Lingering Pent-Up Demand

While strong relative to freight market conditions, Class 8 truck orders were down 24% year over year in October, according to ACT Research. read more

Pathlight Capital Hires Hegarty as Managing Director of Investor Relations

Pathlight Capital, a $2.7 billion private credit firm that provides asset-based loans secured on a first or second lien basis against tangible and intangible assets, hired Laura Hegarty as managing director of investor relations. Hegarty will focus on fundraising initiatives for the firm. read more

First Bank Promotes Currie to President and Expands CFO Bostian’s Responsibilities

North Carolina-based community bank First Bank named Adam Currie president and expanded CFO Elizabeth Bostian’s role to include responsibility for human resources as a managed line of business. read more

BMO Capital Markets Leads $250MM in Financing for Blue Bird

Blue Bird, a manufacturer of school buses, completed the refinancing of its credit facilities and entered into a new five-year credit agreement led by BMO Capital Markets. The new credit agreement provides for a $100 million term loan and a $150 million revolving credit facility. read more

Warner to Retire from Key Equipment Finance; Bullen Appointed Group Head

Adam Warner will retire from Key Equipment Finance (KEF) after serving as the company’s president since 2009. Peter Bullen was named group head of KEF and will assume responsibility for KEF’s leadership. read more

Business Aviation Market Growth Has Slowed but Demand Remains Strong

Global Jet Capital published its Q3/23 Business Aviation Market Brief this week, noting that flight operations in the business jet sector are down compared with 2022 but above pre-COVID levels, inventory levels have climbed but remain below historical averages and transactions have declined from recent high levels. read more

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