News Topics

Aircraft Deals

Willis Lease Finance and Air India Sign Sale and Leaseback Deal for Airbus A320 Fleet

Air India signed definitive sale and lease back agreements with Willis Lease Finance, headquartered in Florida, for 34 CFM56-5B engines installed on its Airbus A320 family fleet. read more

Associations

ELFA to Host Inaugural Equity Forum Nov. 6-7 in Washington, D.C.

The Equipment Leasing and Finance Association will hold the inaugural ELFA Equity Forum from Nov. 6-7, 2022 in Washington, D.C., to celebrate and advance diversity, equity and inclusion (DEI) in the equipment finance industry. read more

Bankruptcy

Philippine Airlines Emerges from Chapter 11 with $2B in Balance Sheet Reductions

Philippine Airlines emerged from its voluntary Chapter 11 proceedings, completing its financial restructuring within four months. Philippine Airlines’ plan of reorganization provides for more than $2 billion in permanent balance sheet reductions from existing creditors. read more

Data

Ritche Bros. Releases September Market Trends Report

Ritchie Bros.’ September Market Trends Report detailed sales of oil & gas support equipment over the past 20 months, including detailed charts breaking down volume, median asset age and pricing for boom, vacuum and bed trucks. read more

Economy

Federal Reserve Boosts Federal Funds Rate, Matches Increases in June and July

The Federal Reserve continued its efforts to curb rising inflation on Wednesday, announcing that it will raise the target range for the federal funds rate to between 3% and 3.25%, marking yet another 0.75% increase following similar actions in June and July. read more

Equipment Sector

Ritche Bros. Releases September Market Trends Report

Ritchie Bros.’ September Market Trends Report detailed sales of oil & gas support equipment over the past 20 months, including detailed charts breaking down volume, median asset age and pricing for boom, vacuum and bed trucks. read more

Industry

PGT Trucking Chooses Penske Truck Leasing for Fleet Maintenance Solutions

PGT Trucking, a multi-service transportation firm offering flatbed, dedicated, international and specialized services, selected Penske Truck Leasing as its provider of choice for comprehensive fleet maintenance solutions. read more

International

DLL Acquires 20% of Inquieto Moving Attitude

Inquieto Moving Attitude, a company of the Spanish multinational company GAM that specializes in solutions for the sustainable mobility industry, signed a 20% equity stake investment deal with DLL. read more

Joint Ventures

PGT Trucking Chooses Penske Truck Leasing for Fleet Maintenance Solutions

PGT Trucking, a multi-service transportation firm offering flatbed, dedicated, international and specialized services, selected Penske Truck Leasing as its provider of choice for comprehensive fleet maintenance solutions. read more

Lease Accounting

LeaseQuery: Leases Return to Pre-Pandemic Levels; Costs and Liabilities Rise

According to LeaseQuery, the average number of leases companies hold has returned to or exceeded pre-COVID-19-pandemic levels. However, companies are finding that the cost and liabilities of leases are on the rise. read more

Legal / Fraud

Cohn and Dussi Opens New Rhode Island Office

Cohn and Dussi, a full-service business law firm with its principal office in Boston, has opened an office in Providence, RI. read more

Mergers / Acquisitions

US Bancorp and Mitsubishi UFJ Financial Group Extend Purchase Agreement

U.S. Bancorp and Mitsubishi UFJ Financial Group extended the outside termination date of the purchase agreement for U.S. Bank’s acquisition of MUFG from Sep. 30, 2022, to Dec. 31, 2022. read more

New Ventures

Wheels Donlen Launches New Equipment Finance Platform Capteris Capital

Wheels Donlen, a fleet financing company backed by Apollo, launched a new equipment finance platform, Capertis Capital. read more

Of Interest

Keystone Equipment Finance Launches Website Makeover

Keystone Equipment Finance, an independent equipment finance company, launched its new website at the existing domain www.keystoneefc.com. read more

People

Oak Valley Community Bank Adds Munoz as Commercial Banking Officer

Oak Valley Community Bank, a wholly-owned subsidiary of Oak Valley Bancorp, hired Damon K. Munoz as vice president, commercial banking officer. He will be responsible for commercial lending and business development in Roseville, CA. read more

Program Agreements

Dividend Finance and OpenSolar Enter Agreement to Offer Innovative Financing Options

OpenSolar, a software company focused on empowering solar installers, and Dividend Finance, a fintech point-of-sale lender to home improvement and solar contractors, entered a program agreement to offer solar professionals competitive and convenient financing options. read more

Recent Earnings

Mitsubishi HC Capital Achieves $2B in Financing Assets

Mitsubishi HC Capital Canada reached $2 billion in financing assets. The company reached its first $1 billion in the span of 39 years, while the next $1 billion was earned within the past four years. read more

Securitization

Amur Equipment Finance Completes 11th Term Securitization, Issues $466MM in Notes

Amur Equipment Finance completed its 11th term securitization in which it issued $466 million in notes secured by equipment loans and leases originated through its platform. This follows Amur’s January issuance of nearly $500 million in notes, which was rated by Moody’s and DBRS.  read more

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Terry Mulreany
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