News Topics

Aircraft Deals

Air Lease Delivers New Airbus A330-900neo to Air Mauritius

Air Lease delivered one new Airbus A330-900neo aircraft on long-term lease to Air Mauritius. The aircraft is the first of two A330-900neos to deliver to the airline from ALC’s order book with Airbus. read more

Associations

ELFF: Confidence Index Down After Two Months’ Increase

According to the latest ELFF Monthly Confidence Index, confidence in the equipment finance market decreased in April after two consecutive months’ increases to 58.3, down from the March index of 60.4. read more

Economy

Survey: Restaurants will Add 1.6 Million New Jobs by 2029

The National Restaurant Association released its 2019 State of the Restaurant Industry Report that examines significant forces impacting and shaping the restaurant industry. Key findings surrounding economic conditions include: Restaurant industry sales are forecast to reach $863 billion in 2019;... read more

Equipment Sector

ACT: CV Data Indicates Demand Strength, Stagnating Freight Growth

According to the latest ACT Research State of the Industry: Classes 5-8 Report, March’s Class 8 metrics generally aligned with expectations, with the lone exception of cancellations, which continued to trend lower. read more

Industry

Balboa Capital Opens Fifth Office in Ontario, CA

Balboa Capital opened a new office in Ontario, CA to accommodate its growth. The new space is located in the Centrelake Plaza, a 114,000-square-foot, six-story office building. read more

International

Hitachi Capital UK Expands Vendor Solutions to New Subsidiary

Hitachi Capital UK, through its European Vendor Solutions division, created a subsidiary, Hitachi Capital European Vendor Solutions, in Amsterdam and opened a branch office in Dublin, Ireland. read more

Joint Ventures

DFNY, Dedicated Funding Enter into Strategic Partnership

Dedicated Funding NY formed a new partnership with Dedicated Funding, an equipment finance company that provides quick and simple financing solutions for titled equipment to businesses nationwide. read more

Lease Accounting

Study: Private Companies Still Not Ready for New Lease Accounting Rules

To provide a quantitative progress report on the status of compliance efforts for private companies of the new lease accounting regulations, LeaseAccelerator conducted a research study in late January 2019. The study showed private companies are reporting a lower state of readiness than public companies showed in last year's survey at this time. read more

Legal / Fraud

Fed Fines Standard Chartered $164MM

The Federal Reserve Board has fined Standard Chartered Bank of London and its parent company $164 million for the firm's unsafe and unsound practices relating to inadequate sanctions controls and failure to disclose sanctions risks to the Federal Reserve. read more

Mergers / Acquisitions

Merchants Bank to Acquire First National Bank of Northfield

Merchants Bank and The First National Bank of Northfield have reached a definitive agreement for Merchants to acquire Northfield. read more

New Ventures

A&M Releases LeaseSCRE Tool to Estimate IBR

Alvarez & Marsal has launched LeaseSCRE (pronounced “lease score”), a web-based tool that uses machine learning to estimate an incremental borrowing rate (IBR) curve. LeaseSCRE provides companies with a streamlined and efficient mechanism to estimate the discount rates necessary to... read more

Of Interest

QuickBridge Releases Traditional vs. Alternative Lenders White Paper

Financial services firm QuickBridge has released a white paper to provide business owners with a new educational resource: “Traditional vs. Alternative Lenders: What to Expect in the Lending Process.” read more

People

Hamel, Elliott Join Dext in Capital Markets, Sales

Industry veterans Donna Hamel and Ken Elliott joined the Dext Capital team as vice president of Capital Markets and vice president of Sales, respectively. read more

Program Agreements

Verdant Expands Program Agreement with Hiab, Princeton Delivery Systems

Verdant Commercial Capital expanded on their multi-year vendor program agreement with Hiab USA and will now provide retail financing for Princeton Delivery Systems. read more

Recent Earnings

TCF Reports Q1/2019 Net Income of $70.5MM

TCF Financial reported net income of $70.5 million for the first quarter of 2019, compared with $73.8 million for the first quarter of 2018 and $85.7 million for the fourth quarter of 2018. read more

Securitization

Wells Fargo Agents $302.7MM+ ABS Transaction for CCG

Independent commercial equipment finance company Commercial Credit Group closed a 144a privately-placed term asset-backed security transaction. Wells Fargo served as structuring agent and lead bookrunner on the $302.732 million financing. read more

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Terry Mulreany
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