News Topics

Aircraft Deals

Surf Air Mobility Confirms Order for First 20 Cessna Grand Caravan EX Aircraft from Textron Aviation

Textron Aviation announced that Surf Air Mobility confirmed its order and paid the deposit for the first 20 Cessna Grand Caravan EX aircraft to be purchased under its previously announced initial fleet order of up to 100 aircraft with options for 50 additional aircraft. read more

Associations

Voorhees of The Alta Group to Lead Discussion on Climate Equipment Finance at ELFA’s Annual Convention

Patricia Voorhees, a director with The Alta Group, will lead a panel discussion on the rapidly developing climate finance market at the Equipment Leasing and Finance Association’s 62nd annual convention, which will be held Oct. 22-24 in Phoenix. read more

Bankruptcy

Large Corporate Bankruptcy Filings Surged in First Half of 2023

The increase in large corporate bankruptcies in the first half of 2023 marked a reversal from a gradual decline in filings since the start of 2021, according to a report by Cornerstone Research. read more

Data

Large Corporate Bankruptcy Filings Surged in First Half of 2023

The increase in large corporate bankruptcies in the first half of 2023 marked a reversal from a gradual decline in filings since the start of 2021, according to a report by Cornerstone Research. read more

DE&I

5 Takeaways from ELFA’s Webinar on Building Inclusive Workplaces

The Equipment Leasing and Finance Association’s recent webinar, “Building Inclusive Workplaces: You’ve successfully recruited a diverse workforce, now what?” focused on an exploration of diversity, equity and inclusion principles. read more

Economy

ELFA’s Monthly Leasing and Finance Index Shows 14% Y/Y Increase in August New Business Volume

The Equipment Leasing and Finance Association’s Monthly Leasing and Finance Index showed overall new business volume for August was $10.1 billion, up 14% year over year from new business volume in August 2022. read more

Equipment Sector

ACT Research: Used Class 8 Retail Sales Rebounded Strongly in August

Class 8 retail sales rebounded strongly, as expected, from July’s misstep, advancing 12% month over month in August, according to ACT Research. read more

Industry

Financial Service Leaders Believe Sector is ‘Digitally Fit’ But Anxious About AI

While most financial service leaders are confident about the digital fitness of their businesses, 26% have “tech anxiety” about AI and machine learning, according to Kin + Carta. read more

Innovation

ELFA to Host Quarterly Innovation Roundtables in 2023

The Equipment Leasing and Finance Association will present four Innovation Roundtables in 2023. These virtual events will allow equipment finance professionals to find out what is on the minds of their peers, share ideas and discover new approaches for tackling their innovation challenges. read more

International

CSI Renting de Tecnología Opens New ITAD Facility in Spain

CSI Renting de Tecnología, a wholly-owned subsidiary of CSI Leasing, opened EPC Global Solutions Spain, a specialized IT asset disposition (ITAD) facility focused on the refurbishment and remarketing of used IT equipment. read more

Joint Ventures

Velocity Enters into Strategic Funding Agreement with Targeted Lending

Velocity Equipment Finance has entered into a strategic funding agreement with Targeted Lending. 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

Kirby McInerney Files Class Action Lawsuit on Behalf of SVB Financial Investors

Kirby McInerney announced a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of those who acquired SVB Financial Group securities during the period from June 16, 2021, through March 10, 2023. read more

Mergers / Acquisitions

Brookfield Infrastructure Partners Completes Acquisition of Triton International

Triton International Limited completed its acquisition by Brookfield Infrastructure Partners, through its subsidiary Brookfield Infrastructure Corporation (BIPC) and its institutional partners. read more

New Ventures

Wells Fargo, Centerbridge Partners Enter Strategic Direct Lending Relationship

Centerbridge Partners and Wells Fargo are entering into a strategic relationship focused on direct lending to non-sponsor North American middle market companies. read more

Of Interest

Financial Service Leaders Believe Sector is ‘Digitally Fit’ But Anxious About AI

While most financial service leaders are confident about the digital fitness of their businesses, 26% have “tech anxiety” about AI and machine learning, according to Kin + Carta. read more

People

Sweet Leaf Madison Capital’s Kaye Named Top Cannabis Industry Leader

Andrew J. Kaye of Sweet Leaf Madison Capital was named an honoree in Green Market Report’s inaugural Notable Leaders in Cannabis designation for 2023. read more

Program Agreements

HP Announces Finance Partner Endorsements for LEAF Commercial Capital and GreatAmerica Financial Services

HP announced two new finance partner endorsements, endorsing LEAF Commercial Capital and GreatAmerica Financial Services to provide financing options to SMBs and Amplify Power Services Print partners, respectively. read more

Recent Earnings

DLL Reports 157% Increase in Net Profits in H1/23

DLL reported net profits of €260 million ($282.82 million) for the first half of 2023, representing an increase of 157% compared with 2022, when, according to DLL, results were heavily diluted by impairments linked to the company’s decision to cease all business activities in Russia. read more

Securitization

North Mill Announces $456MM Term Securitization

North Mill Equipment Finance closed its seventh asset-backed securitization, NMEF Funding 2023-A. read more

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Terry Mulreany
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