News Topics

Aircraft Deals

CDB Aviation Takes Delivery of 100th A320 Family Aircraft from Airbus

The A320neo on lease to GoAir is the 125th Airbus aircraft to join CDB Aviation’s fleet. read more

Associations

LTi’s Johnson Elected to Second Term on ELFA Steering Committee

Jesse Johnson, director of Sales at LTi Technology Solutions, has been elected to a second term on the ELFA’s Service Providers Business Council Steering Committee. read more

Economy

Fed Maintains Interest Rates, Notes Slower Growth of Business Investment

The Federal Open Market Committee decided to maintain the target range for the federal funds rate at 2% to 2-1/4% at its November meeting. read more

Equipment Sector

ACT: Trailer Net Orders Up 70% Y/Y in October

ACT Research’s preliminary estimate for October 2018 net trailer orders is 55,250 units. Final October volume will be available later this month. read more

Industry

CIT Reveals New Brand Identity; Direct Capital Brand to be Retired

CIT Group revealed a simplified and refreshed brand identity aimed at presenting a more cohesive market presence following a multi-year transformation of the company. Direct Capital will become CIT. read more

International

UK Asset Finance Market Reports New Business Stable in September

New figures released by the Finance & Leasing Association show that UK asset finance new business in September was at a similar level to the same month in 2017. read more

Joint Ventures

Under Par Finance, Taycor Partner Up to Expand Canadian Access

Under Par Finance, a Canadian equipment leasing and financing originator that specializes in servicing the golf industry, entered into a strategic partnership with Taycor Financial. read more

Lease Accounting

JetBlue Selects Accruent Software to Manage Lease Processes

JetBlue Airways has selected Accruent’s lease administration and accounting software to manage its lease processes and ensure FASB/IASB compliance. read more

Legal / Fraud

Vedder Price Named 2019 Equipment Finance Law Firm of the Year

U.S. News – Best Lawyers once again named Vedder Price “Law Firm of the Year” for Equipment Finance in its annual “Best Law Firms” rankings. Only one firm per legal practice area receives this recognition. read more

Mergers / Acquisitions

SVB to Acquire Healthcare Investment Bank Leerink Partners

SVB Financial Group entered into a merger agreement to acquire Leernk Holdings, the Boston-based parent company of Leerink Partners, an investment bank focused on the healthcare and life science industries. read more

New Ventures

Stonebriar Launches Sponsor Finance Platform; GE Vet Gay to Lead

Stonebriar Commercial Finance announced the formation of its new Sponsor Finance platform, which will be led by highly regarded industry veteran, Michael Gay, as executive vice president and senior managing director. read more

Of Interest

Citibank to Pay More Than $38MM for Improper Handling of ADRs

The Securities and Exchange Commission announced that Citibank has agreed to pay $38.7 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs). read more

People

Phoenix American Appoints McInerney as Managing Director of PAFS Ireland

Phoenix American Financial Services and PAFS Ireland Limited promoted John McInerney to managing director of PAFS Ireland Limited. read more

Program Agreements

North Star Leasing Selects IDS Solution to Support Growth

North Star Leasing selected International Decision System, a provider of equipment finance and origination software, and its IDScloud solution to support its growing equipment leasing business. read more

Recent Earnings

ECN Capital Reports $50MM+ EBITDA in Q3/18

ECN Capital reported Q3/18 EBITDA, net of provision for credit losses, of $50.9 million versus $36.6 million for the previous three-month period and $34.4 million for the same period last year. read more

Securitization

Ascentium Capital Closes Its Largest Securitization of $344MM

Ascentium Capital closed its tenth small ticket equipment securitization. The $343.7 million securitization was rated AAA by Standard & Poors and Aaa by Moody’s. read more

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Terry Mulreany
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