HSBC Bank Canada

OBSI announces new board members

Retrieved on: 
Friday, March 1, 2024

TORONTO, March 01, 2024 (GLOBE NEWSWIRE) -- The Board of Directors for the Ombudsman for Banking Services and Investments (OBSI) is pleased to announce four appointments to the board:

Key Points: 
  • TORONTO, March 01, 2024 (GLOBE NEWSWIRE) -- The Board of Directors for the Ombudsman for Banking Services and Investments (OBSI) is pleased to announce four appointments to the board:
    Mary Condon has joined the board as a Consumer Interest Director.
  • Previously, she was a board member of the Capital Markets Authority Implementation Organization, and Commissioner and board member of the Ontario Securities Commission (OSC), where she was also a Vice-Chair.
  • All directors have a fiduciary duty to OBSI and do not advocate for or represent any outside interest while engaged in OBSI governance.
  • If a consumer has a complaint against an OBSI participating bank or investment firm that they are not able to resolve with the bank or firm, OBSI will investigate at no cost to the consumer.

WELL Health USA Announces Successful Refinancing of US $300M Credit Facility with JPMorgan Chase Bank, N.A., Demonstrating a Healthy Balance Sheet and Substantial Room for Growth

Retrieved on: 
Wednesday, January 31, 2024

and includes a primary $175M credit facility, with an additional $125M accordion for future growth and flexibility and includes two new syndicate members.

Key Points: 
  • and includes a primary $175M credit facility, with an additional $125M accordion for future growth and flexibility and includes two new syndicate members.
  • There were no material changes from the terms of the previous credit facility, exemplifying continued strong financial performance.
  • Jay Kreger, CEO of WELL USA, commented, "WELL USA's recent successful refinancing is a true testament to the strength, resilience, and growth prospects of its business.
  • This arrangement enhances WELL USA's financial flexibility, essential for executing its strategic growth plans and maintaining its commitment to financial discipline.

Racquel Oden Appointed TMCF Board Chair

Retrieved on: 
Thursday, October 12, 2023

WASHINGTON, D.C., Oct. 12, 2023 (GLOBE NEWSWIRE) -- During Thurgood Marshall College Fund’s bi-annual Board of Directors meeting on September 23rd, Racquel Oden, head of wealth and personal banking for HSBC Bank U.S.A., was appointed Board Chair-Elect.

Key Points: 
  • WASHINGTON, D.C., Oct. 12, 2023 (GLOBE NEWSWIRE) -- During Thurgood Marshall College Fund’s bi-annual Board of Directors meeting on September 23rd, Racquel Oden, head of wealth and personal banking for HSBC Bank U.S.A., was appointed Board Chair-Elect.
  • “As a member of the TMCF board for the past 16 years and an HBCU alum, I've experienced first-hand the pivotal role we play in nurturing future leaders & providing access,” Oden said.
  • In addition to serving as TMCF's board chair, Oden serves on the Boards of Directors for the Apollo Theater, New York City's Prep for Prep, and The New York City Police Foundation and on the National Board of Directors.
  • Oden lives with her husband and daughter in Long Island, New York.

Calfrac Announces Extension and Amendment of Credit Facilities

Retrieved on: 
Friday, September 29, 2023

CALGARY, Alberta, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Calfrac Well Services Ltd. ("Calfrac" or “the Company”) (TSX-CFW) is pleased to announce that it has entered into an agreement with a syndicate of Canadian financial institutions which amends and extends its credit facilities (the “Credit Facilities”).

Key Points: 
  • CALGARY, Alberta, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Calfrac Well Services Ltd. ("Calfrac" or “the Company”) (TSX-CFW) is pleased to announce that it has entered into an agreement with a syndicate of Canadian financial institutions which amends and extends its credit facilities (the “Credit Facilities”).
  • As at June 30, 2023 the Interest Coverage Ratio and Total Debt to EBITDA ratio from continuing operations would have been 7.93:1.00 and 1.04:1.00, respectively.
  • Calfrac’s Chief Financial Officer, Mike Olinek, commented: “We are pleased to report an extension of the Company’s Credit Facilities with a newly configured lending syndicate consisting of four major financial institutions.
  • Calfrac provides specialized oilfield services to exploration and production companies designed to increase the production of hydrocarbons from wells with continuing operations focused throughout western Canada, the United States and Argentina.

Tucows Inc. Announces New Credit Facility with Bank of Montreal

Retrieved on: 
Tuesday, September 26, 2023

The new Credit Agreement replaces the existing Third Amended and Restated Credit Agreement with Royal Bank of Canada ("RBC"), with the new Credit Facility set to expire on September 22, 2026, marking the third anniversary of the effective date of the agreement.

Key Points: 
  • The new Credit Agreement replaces the existing Third Amended and Restated Credit Agreement with Royal Bank of Canada ("RBC"), with the new Credit Facility set to expire on September 22, 2026, marking the third anniversary of the effective date of the agreement.
  • Tucows is excited about this strategic partnership with Bank of Montreal and the other members of the syndicate, including TD Bank, Bank of Nova Scotia, CIBC, National Bank of Canada, Business Development Bank of Canada and HSBC Bank Canada.
  • In connection with entering into the Credit Agreement, Tucows has paid off the principal balance, including accrued interest, of the revolving loans outstanding under the Third Amended and Restated Credit Agreement with RBC.
  • For more information, please refer to the Credit Agreement filed in Tucows' 8K on September 25, 2023.

Scotiabank welcomes Sandra Stuart and Michael Medline to its Board of Directors

Retrieved on: 
Tuesday, August 29, 2023

TORONTO, Aug. 29, 2023 /CNW/ - Scotiabank today announced the appointment of Sandra Stuart and Michael Medline to its Board of Directors.

Key Points: 
  • TORONTO, Aug. 29, 2023 /CNW/ - Scotiabank today announced the appointment of Sandra Stuart and Michael Medline to its Board of Directors.
  • "We are very pleased to welcome Sandra and Michael to Scotiabank's Board.
  • Sandra is a seasoned business leader with extensive global financial services and operations experience from her time at HSBC Bank.
  • Prior to joining Empire in 2017, Mr. Medline held retail leadership positions at Canadian Tire Corporation, including President and Chief Executive Officer.

Banks in Canada Offer Support and Assistance to Canadians Affected by Fires in Northwest Territories and British Columbia

Retrieved on: 
Tuesday, August 22, 2023

HSBC Bank Canada also contributes to the Canadian Red Cross' Emergency Management Program to build resilience and enable the rapid response to disasters and emergencies such as the fires impacting communities in the Northwest Territories and British Columbia.

Key Points: 
  • HSBC Bank Canada also contributes to the Canadian Red Cross' Emergency Management Program to build resilience and enable the rapid response to disasters and emergencies such as the fires impacting communities in the Northwest Territories and British Columbia.
  • Canadians who wish to donate can contribute to the Canadian Red Cross' Northwest Territories Fires Appeal and British Columbia Fires Appeal .
  • Donations may also support communities assisting those impacted, as well as preparedness and risk reduction for future all-hazard disaster events in Northwest Territories and the region, and British Columbia.
  • Canadians in the affected areas who need help with their finances are encouraged to contact their bank for assistance.

Quarterhill Announces Updated Credit Agreement

Retrieved on: 
Thursday, June 29, 2023

TORONTO, June 29, 2023 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), a leading provider of tolling and enforcement solutions in the Intelligent Transportation System ("ITS") industry, announces that, further to its press release dated June 15, 2023, the Company's subsidiary Quarterhill ITS Inc. has completed an updated credit agreement (the "Credit Agreement") with its existing syndicate of bank lenders led by HSBC Bank Canada (the "Syndicate").

Key Points: 
  • TORONTO, June 29, 2023 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), a leading provider of tolling and enforcement solutions in the Intelligent Transportation System ("ITS") industry, announces that, further to its press release dated June 15, 2023, the Company's subsidiary Quarterhill ITS Inc. has completed an updated credit agreement (the "Credit Agreement") with its existing syndicate of bank lenders led by HSBC Bank Canada (the "Syndicate").
  • Under the terms of the amended Credit Agreement, Quarterhill ITS Inc. will be granted a covenant relief period by the Syndicate through December 31, 2023.
  • Other terms and conditions to the amended Credit Agreement are customary for transactions of this nature.

Quarterhill Announces Update to Credit Agreement

Retrieved on: 
Thursday, June 15, 2023

TORONTO, June 15, 2023 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), a leading provider of tolling and enforcement solutions in the Intelligent Transportation System ("ITS") industry, announces that it has reached an agreement in principle with its existing syndicate of bank lenders led by HSBC Bank Canada (the "Syndicate") on updates to the existing credit agreement (the "Credit Agreement") with the Company's subsidiary Quarterhill ITS Inc.

Key Points: 
  • TORONTO, June 15, 2023 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), a leading provider of tolling and enforcement solutions in the Intelligent Transportation System ("ITS") industry, announces that it has reached an agreement in principle with its existing syndicate of bank lenders led by HSBC Bank Canada (the "Syndicate") on updates to the existing credit agreement (the "Credit Agreement") with the Company's subsidiary Quarterhill ITS Inc.
  • The amended Credit Agreement is expected to be finalized and effective by June 30, 2023.
  • As disclosed with the Company's financial statements for the three-month period ended March 31, 2023, Quarterhill ITS Inc. was offside certain ratio covenants in the Credit Agreement.
  • Under the terms agreed to in principle of the amended Credit Agreement, Quarterhill ITS Inc. will be granted a covenant relief period by the Syndicate through December 31, 2023.

Banks in Canada Offer Support and Assistance to Canadians Affected by Nova Scotia and Atlantic Fires

Retrieved on: 
Friday, June 2, 2023

HSBC Bank Canada also contributes to the Canadian Red Cross' Emergency Management Program to build resilience and enable the rapid response to natural disasters like the fires in Atlantic Canada.

Key Points: 
  • HSBC Bank Canada also contributes to the Canadian Red Cross' Emergency Management Program to build resilience and enable the rapid response to natural disasters like the fires in Atlantic Canada.
  • Canadians who are in a position to donate can make a contribution to the Canadian Red Cross Nova Scotia & Atlantic Canada Fires Appeal.
  • Donations will be used to assist those most impacted in the affected areas in Nova Scotia and other Atlantic provinces with immediate and ongoing relief, recovery, and resilience efforts in response to the wildfires, as well as support for community preparedness and risk reduction for future all-hazard disaster events within Atlantic Canada.
  • The Government of Canada will match donations made to the Canadian Red Cross to support the disaster relief efforts.