PNC Financial Services

TFI International Completes Previously Announced Daseke Acquisition for US $8.30 in Cash per Common Share and Closes on US $500 Million Term Loan

Retrieved on: 
Monday, April 1, 2024
Bank of America, Goldman Sachs, PNC Financial Services, Daseke, National Bank of Canada, Bank, Acquisition, Transport, U.S. Bancorp, Toronto-Dominion Bank, Bank of Montreal, TFI International, TSX, Royal Bank of Canada, National bank

MONTREAL, April 01, 2024 (GLOBE NEWSWIRE) -- TFI International Inc. (NYSE and TSX: TFII), a North American leader in the transportation and logistics industry, today announced that it has closed on the previously announced acquisition of Daseke, Inc. (NASDAQ: DSKE), one of the leading flatbed and specialized transportation and logistics companies in North America, for US $8.30 in cash per common share.

Key Points: 
  • MONTREAL, April 01, 2024 (GLOBE NEWSWIRE) -- TFI International Inc. (NYSE and TSX: TFII), a North American leader in the transportation and logistics industry, today announced that it has closed on the previously announced acquisition of Daseke, Inc. (NASDAQ: DSKE), one of the leading flatbed and specialized transportation and logistics companies in North America, for US $8.30 in cash per common share.
  • The total enterprise value of the transaction is approximately US $1.1 billion, including the merger consideration for the common stock, redemption of Daseke’s Series B preferred stock, payoff or assumption of Daseke’s Series A preferred stock and outstanding debt, net of cash, and estimated transaction fees and expenses.
  • In addition, on March 22, 2024, TFI International closed on a US $500 million term loan in an overcommitted transaction priced at a spread of SOFR plus a range of 140 to 165 basis points, to vary over time depending on the company’s funded-debt-to-EBITDA ratio, and consisting of three tranches including a one-year facility of US $100 million maturing March 2025, a two-year facility of US $100 million maturing March 2026 and a three-year facility of US $300 million maturing March 2027.
  • Participating banks included National Bank of Canada, Royal Bank of Canada, Bank of America, N.A., The Toronto-Dominion Bank, Bank of Montreal, PNC Bank, N.A., U.S. Bank National Association, Morgan Stanley Bank, N.A., and Goldman Sachs.

Strategic Growth Continues: US Capital Global Expands Investment Banking Division in New York City with New Vice President, John Tesoriero

Retrieved on: 
Thursday, March 28, 2024
First Niagara Bank, PNC Financial Services, Chase Bank, Toronto-Dominion Bank, Washington Mutual, FINRA

With nearly three decades of experience in the banking and financial services industry, Mr. Tesoriero has consistently driven revenue growth, enhanced profitability, and expanded market share.

Key Points: 
  • With nearly three decades of experience in the banking and financial services industry, Mr. Tesoriero has consistently driven revenue growth, enhanced profitability, and expanded market share.
  • All private placements, securities, and other related services are offered by the group’s FINRA-member broker-dealer affiliate, US Capital Global Securities LLC .
  • Stepping into his new role, Mr. Tesoriero expressed his enthusiasm, stating, “Currently, US Capital Global is experiencing substantial growth in the United States and internationally and diversifying into new sectors.
  • “A seasoned Senior Commercial Business Banking Relationship Manager, John has extensive proficiency in commercial lending, business banking, and financial services.

Preparations Begin in Downtown Detroit for 2024 NFL Draft Presented by Bud Light

Retrieved on: 
Tuesday, March 26, 2024
Friends, National Football League Draft, Cadillac, City, Michigan Economic Development Corporation, Transport, DTE Energy, NFL Network, Phase 1, Fan service, Restaurant, NFL, General Motors, Penske Corporation, Columbia Street, ESPN, Huntington Bancshares, Flagstar Bank, Detroit Lions, The Development, ESPN Deportes, Detroit Partnership, State, ABC, Conscription, Development, W. K. Kellogg Foundation, Detroit Pistons, Theatre, Philip A. Hart Plaza, Knight Foundation, DDP, Football, Corktown, Corner Ballpark, DDOT, Rocket Mortgage, M-1 (Michigan highway), Smartphone, Fifth Third Bank, PNC Financial Services, RTA, Beacon Park, SMART, Nightclub

The announcement, marking 30 days before night one of the Draft on April 25, took place at the Development at Cadillac Square—formerly known as the Monroe Midway—the site of the NFL Draft Theater.

Key Points: 
  • The announcement, marking 30 days before night one of the Draft on April 25, took place at the Development at Cadillac Square—formerly known as the Monroe Midway—the site of the NFL Draft Theater.
  • During the media event, the City announced the first downtown street closures for the Draft, which is expected to attract hundreds of thousands of visitors and customers for downtown businesses.
  • “The Downtown Detroit Partnership’s ‘Draft Day in the D’ is free to fans, friends, and families who will be enjoying Detroit during Draft Weekend,” said Downtown Detroit Partnership CEO Eric B. Larson.
  • For more information on the NFL Draft presented by Bud Light, fans should visit nfl.com/draft/event-info and download the NFL OnePass app or on the web at NFL.com/DraftAccess .

More Redemption Options, Everyday Value, and More Choice Headline New Analysis of Credit Card Rewards Programs

Retrieved on: 
Tuesday, April 9, 2024
American Express, Reward, Interview, Annual report, Travel, System, Loyalty, PNC Financial Services, Cryptocurrency

NEW ORLEANS, April 9, 2024 /PRNewswire/ -- iSeatz, a leading provider of travel loyalty technology and digital commerce solutions, has released its 3rd annual State of Loyalty Credit Card Rewards report. Chief among the report's findings is a broad-based trend toward expanded rewards portfolios, reflecting a credit card loyalty ecosystem striving to offer more value to cardholders and achieve differentiation through unique redemption opportunities in a crowded marketplace.

Key Points: 
  • NEW ORLEANS, April 9, 2024 /PRNewswire/ -- iSeatz, a leading provider of travel loyalty technology and digital commerce solutions, has released its 3rd annual State of Loyalty Credit Card Rewards report .
  • The report also identifies several other trends in the credit card rewards landscape, specifically relating to travel loyalty.
  • According to our analysis, most credit card programs already include the "big three" travel rewards – flight (100%), hotel (92%), and car rental (92%).
  • The latest analysis shows that credit card programs most frequently pursue this strategy in rewards related to charitable giving, dining, wellness, and gas.

Greystone Real Estate Capital Adds Key Hires to LIHTC Platform

Retrieved on: 
Monday, March 18, 2024
Real estate, Providence College, Boston University, Negotiation, Investment management, University, WNC, Growth, Veteran, Team leader, Assistant, PNC Financial Services, Methodist University, Capital One, Business, Business administration, Chartered, CRA, Capital, PNC, Senior, Credit, Investment, Housing, Disability, Marketing, FINRA, QAP, Boston, Salve Regina University, Security (finance)

NEW YORK, March 18, 2024 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, announced that its Low Income Housing Tax Credit (LIHTC) Syndication Platform, Greystone Real Estate Capital, has added four senior members to its team.

Key Points: 
  • NEW YORK, March 18, 2024 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, announced that its Low Income Housing Tax Credit (LIHTC) Syndication Platform, Greystone Real Estate Capital, has added four senior members to its team.
  • “It’s gratifying to grow a team of committed professionals who have such deep experience in affordable housing equity and finance, and we are energized to make an impact on the sector as we develop Greystone’s LIHTC syndication platform,” said Mr. Greg Voyentzie, head of Greystone Real Estate Capital.
  • Mr. Egidi, with over 15 years of affordable housing industry experience, is responsible for asset selection, fund placement, structuring, marketing, and management of institutional investor relationships for Greystone Real Estate Capital.
  • Mr. Gordon, bringing over 12 years of affordable housing experience, provides Credit & Underwriting direction and guidance for all of Greystone Real Estate Capital’s investments.

Kinetik Executes New Accounts Receivable Securitization Facility

Retrieved on: 
Wednesday, April 3, 2024
Energy, Other Energy, Oil, Gas, KNTK, Term loan, National Association, PNC Financial Services

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today announced that one of its subsidiaries has entered into an agreement with PNC Bank, National Association for a $150 million accounts receivable securitization facility (“A/R Facility”) which matures April 2025 with an ongoing renewal mechanism.

Key Points: 
  • Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today announced that one of its subsidiaries has entered into an agreement with PNC Bank, National Association for a $150 million accounts receivable securitization facility (“A/R Facility”) which matures April 2025 with an ongoing renewal mechanism.
  • The initial borrowing base of $150 million will vary with the value of the Company's accounts receivable balance.
  • Borrowings under the A/R Facility bear interest at the one-month term SOFR rate plus 90 basis points.
  • Kinetik intends to use the net proceeds from the A/R Facility to repay a portion of the outstanding borrowings under its existing Term Loan Credit Facility (“Term Loan”), lowering the remaining balance to $1.0 billion.

Quest Resource Holding Corporation Extends Debt Maturities Enhancing Financial Flexibility

Retrieved on: 
Monday, April 1, 2024
Environment, Recycling, Growth, PNC Financial Services, Management

Quest Resource Holding Corporation (NASDAQ: QRHC) (“Quest” or the “Company”), a national leader in environmental waste and recycling services, today announced that it has extended the maturity dates for its existing credit facilities held by Monroe Capital Management Advisors, LLC and PNC Bank, NA.

Key Points: 
  • Quest Resource Holding Corporation (NASDAQ: QRHC) (“Quest” or the “Company”), a national leader in environmental waste and recycling services, today announced that it has extended the maturity dates for its existing credit facilities held by Monroe Capital Management Advisors, LLC and PNC Bank, NA.
  • The Monroe Credit Agreement maturity date has been extended to October 19, 2026, among other changes, and the PNC Credit Agreement’s maturity date has been extended to April 19, 2026.
  • S. Ray Hatch, President and Chief Executive Officer of Quest, said, “Extending our debt maturities meaningfully increases our financial flexibility, and I am grateful for the support and engagement of our lenders.
  • The successful execution of this debt extension is an important first step in the committee’s efforts as we continue to position the Company for ongoing success.”
    Additional information regarding the amended credit agreements will be filed with the U.S. Securities and Exchange Commission.

Regions Bank Names Katie Such as head of Affordable Housing as Rob Chiles Announces Retirement

Retrieved on: 
Wednesday, March 27, 2024
Residential Building & Real Estate, Banking, Construction & Property, Professional Services, University, Real estate, PNC Financial Services, Bachelor of Arts, Business administration, Bank, Regions Financial Corporation, Distribution, Such, Housing, Investment, Region, Home Forward, Multimedia, LIHTC, Portland State University, HUD, Fannie Mae

Regions Bank on Wednesday announced experienced financial services leader Katie Such has been elevated to serve as head of Regions Affordable Housing .

Key Points: 
  • Regions Bank on Wednesday announced experienced financial services leader Katie Such has been elevated to serve as head of Regions Affordable Housing .
  • View the full release here: https://www.businesswire.com/news/home/20240327719034/en/
    Regions Bank is announcing experienced financial services leader Katie Such has been elevated to serve as head of Regions Affordable Housing.
  • (Photo: Business Wire)
    Mike Smith, head of Real Estate Banking for Regions, said the appointment of Such reflects Regions’ continued dedication to supporting affordable housing opportunities.
  • The result is helping connect more people with more high-quality housing options.”
    Regions Affordable Housing LLC is a national low-income housing tax credit (LIHTC) investor, syndication firm and leader in affordable housing.

96th ABC Kite Fest Takes Flight in Zilker Park on Sunday, April 14

Retrieved on: 
Monday, March 25, 2024
Other Consumer, Parenting, Children, Entertainment, Pets, Events, Concerts, General Entertainment, Family, Consumer, BBQ, Friends, ABC, National Exchange Club, Exercise, Learning, VIP, PNC Financial Services, Contest, Sale, Food, Dog, Kids' club, Music, Recreation, Multimedia, Nightclub

ABC Kite Fest , the largest and longest-running festival of its kind, will return to Zilker Park on Sunday, April 14, 2024, from 10 a.m. to 5 p.m.

Key Points: 
  • ABC Kite Fest , the largest and longest-running festival of its kind, will return to Zilker Park on Sunday, April 14, 2024, from 10 a.m. to 5 p.m.
  • View the full release here: https://www.businesswire.com/news/home/20240325804845/en/
    Fun for the whole family at the 96th ABC Kite Fest!
  • “We invite everyone—from kite aficionados to first-time flyers—to join us on April 14 in Zilker Park to experience firsthand the unique joy and revelry of the ABC Kite Fest.
  • Founded in 1929 by The Exchange Club of Austin, ABC Kite Fest is underwritten by ABC Home & Commercial Services and produced by the Friends of the ABC Kite Fest, a 501(c)(3) nonprofit.

Matador Resources Company Announces Amendment to Its Credit Facility and Completion of Natural Gas Pipeline Connections

Retrieved on: 
Monday, March 25, 2024
Oil, Gas, Energy, Natural gas, PNC Financial Services, Capital One, Acquisition, Toronto-Dominion Bank, Wells Fargo, Bullfighter, Citizens Bank, Petroleum

Matador is also pleased to announce that five new banks joined the credit facility, bringing the total bank group to 19 banks.

Key Points: 
  • Matador is also pleased to announce that five new banks joined the credit facility, bringing the total bank group to 19 banks.
  • “Both pipeline additions, which include over 20 miles of natural gas pipeline, will enable Matador to more effectively gather and transport natural gas production from the 21 Dagger Lake South wells, which are expected to be turned-to-sales in the second quarter of 2024.
  • The natural gas pipeline connection between Pronto Midstream and San Mateo can flow natural gas in either direction to optimize market conditions.
  • These natural gas pipeline connections will assist in the execution of our strategic priorities for our production, including record Matador production in 2024, as our guidance has indicated.”