Trimble entered into a $500 million unsecured delayed draw term loan with Bank of America serving as administrative agent. Trimble may draw the facility in up to four installments through Jan. 29, 2027, with loans maturing two years after the initial draw. Borrowings are priced at Term SOFR plus 0.875% to 1.750% or an alternate base rate plus up to 0.750%, and proceeds may be used for general corporate purposes.
Tesla secured $30 billion in credit facilities from Citi and Wells Fargo under arrangements with terms ranging from one to five years, replacing a previous $5 billion facility. The expanded borrowing capacity provides Tesla with additional liquidity as the automaker increases capital spending, although the company reportedly does not expect to draw on the facilities in 2026.
Flex entered into a $3.3 billion senior unsecured term loan facility with Citibank serving as administrative agent to finance a portion of its acquisition of EPC Power and related costs. The single-draw facility was undrawn at closing and matures 364 days after funding, with pricing based on Term SOFR or a base rate plus a ratings-based margin. The facility became effective Sept. 29 and reduced commitments under Flex’s previously arranged $4.4 billion bridge facility.
Citizens Bank provided $23 million in financing to Sabet Group for its $32.5 million acquisition of three apartment buildings in Midtown Manhattan. The transaction involves a portfolio of walk-up multifamily properties and represents a new acquisition financing by Citizens in the New York market.
Esco Technologies entered into $1.5 billion of senior secured credit facilities with JPMorgan Chase serving as administrative agent. The financing consists of a $500 million revolving credit facility, a $500 million term loan A facility and a $500 million term loan B facility. Esco borrowed approximately $1 billion at closing to fund the cash portion of an acquisition, refinance existing debt and pay related fees and expenses. The facilities became effective Oct. 1 and replaced Esco’s previous credit agreement.
JPMorgan Chase provided refinancing for Lenox Terrace, a 1,696-unit rent-regulated apartment complex in Harlem. The financing covers one of Manhattan’s largest multifamily properties and represents a significant New York real estate lending transaction for the bank.
NETSTREIT secured $550 million in additional financing commitments through credit facilities led by PNC Bank, including $150 million of increases to existing senior unsecured term loans and a new $400 million seven-year delayed-draw term loan. NETSTREIT used the funded incremental loans and a $50 million draw under an existing facility to repay a $200 million term loan due in 2028, leaving the REIT with no material debt maturities until early 2029. PNC Capital Markets served as sole bookrunner for the two incremental loans and as a joint bookrunner on the delayed-draw facility, with U.S. Bank among the joint lead arrangers.
JPMorgan is leading a proposed $1.11 billion financing package for JDS Development and Fontainebleau Development’s Mercedes-Benz Places-Miami project in Brickell. The financing includes an $860 million construction loan led by JPMorgan and approximately $250 million in C-PACE financing being arranged by Nuveen Green Capital. Term sheets have been signed, with closing expected by year-end for the 67-story mixed-use development.
JPMorgan Chase served as administrative agent, lead-left bookrunner and lead-left arranger on Carriage Services’ new $300 million senior secured revolving credit facility. The facility replaces a $250 million revolver, increases committed capacity by $50 million and extends the stated maturity to September 2031. Pricing ranges from Term SOFR plus 1.25% to 2.00% based on leverage, with Carriage expecting its current borrowing margin to decline by approximately 50 basis points.
CTO Realty Growth amended and restated its KeyBank-led unsecured credit facility, establishing $1 billion in total commitments with an option to increase capacity to $1.5 billion. The financing includes a $400 million revolving credit line maturing in 2030 and four senior unsecured term loans totaling $600 million with maturities extending through March 2032. CTO used proceeds to refinance existing debt, extending its weighted average debt maturity from 1.6 years to 4.3 years.
KeyBank provided $92.9 million in financing for SoLa Impact’s Broadway & Imperial, a 166-unit affordable housing development in South Los Angeles. The financing includes a $43.8 million construction loan and $18.1 million in federal Low-Income Housing Tax Credit equity from KeyBank Community Development Lending and Investment, while Key Commercial Mortgage Group arranged a $31 million Fannie Mae MTEB permanent loan. KeyBanc Capital Markets also underwrote a $31 million public bond issuance supporting the project.
Citizens Bank provided a $35.85 million construction loan as part of a $77.61 million financing package for PRC’s rehabilitation of the 150-unit Paulsboro Gardens Apartments in Paulsboro, New Jersey. The capital stack also includes a $23.73 million Freddie Mac-backed tax-exempt loan originated by BWE and $18.03 million in Low-Income Housing Tax Credit equity syndicated by Enterprise Community Partners. The renovation is expected to be completed in late 2027.
OPENLANE subsidiaries Automotive Finance Corporation and AFC Funding amended their U.S. receivables purchase facility to extend its termination date from January 2028 to January 2030. PNC Bank, JPMorgan Chase and U.S. Bank are among the financial institutions participating in the facility. The amendment was executed Sept. 25 as part of OPENLANE’s extension of receivables financing arrangements in the U.S. and Canada.
Alexandria Real Estate Equities amended and restated its $5 billion unsecured senior revolving credit facility, extending its potential maturity to January 2032 and reducing the borrowing rate to SOFR plus 0.725%, down 11 basis points. Citibank serves as administrative agent, while Citibank, BofA Securities, JPMorgan Chase and U.S. Bank are among the joint lead arrangers. Citibank, BofA Securities and JPMorgan Chase also serve as joint bookrunners. The amended agreement became effective Sept. 24.
Wells Fargo rejoined LF Decentralized Trust as a general member as the Linux Foundation-backed organization expands its work on blockchain, digital ledger and tokenization technologies. Chintan Mehta, Wells Fargo’s CIO and Head of Digital Technology & Innovation, said the future of financial services will require greater interoperability, trust and collaboration. The organization added 15 members as financial institutions continue exploring tokenized assets, stablecoins and central bank digital currencies.
Deutsche Bank is offering $1.5 million of 5.25% fixed-rate callable senior debt funding notes due July 17, 2036. The unsecured, unsubordinated senior preferred notes are issued at par and may be called on specified dates beginning July 17, 2030, subject to regulatory approval. Deutsche Bank expects approximately $1.47 million in net proceeds, which will be used for general corporate purposes.
JPMorgan Chase is in talks to lead approximately $3.8 billion in construction financing for Extell Development’s planned luxury condominium tower on Manhattan’s Upper West Side. Extell acquired the former ABC headquarters site on West 66th Street for $930 million in 2022 and has filed plans for a 1,200-foot tower designed by Robert A.M. Stern Architects. The proposed financing would be among the largest construction loans in the U.S. JPMorgan and Extell declined to comment on the discussions.
Deutsche Bank and BDT & MSD Partners provided a $99 million pre-development loan to Legion Investment Group and SMA Equities for a planned condominium project at 1491-1497 Third Avenue on Manhattan’s Upper East Side. Walker & Dunlop arranged the financing for the proposed 37-story, approximately 300,000-square-foot development. Demolition at the site is underway.
Alexandria Real Estate Equities entered into an escrow agreement to facilitate execution and closing of its planned fourth amended and restated credit agreement. Citibank is serving as administrative agent. The arrangement coordinates closing logistics for the forthcoming amended facility.
Wells Fargo provided a $455.7 million floating-rate refinancing for an eight-property industrial portfolio totaling approximately 7.1 million square feet. The properties are fully leased to Family Dollar under a long-term triple-net master lease. JLL arranged the financing for 1959 RE Holdings, which is controlled and partially owned by affiliates of Brigade Capital Management and Macellum Capital Management.
Wells Fargo Commercial Banking's Middle Market Real Estate team provided a $130 million refinancing to Darwin Investment Group for a 39-building industrial portfolio spanning greater Chicago and southeast Wisconsin. The properties total more than 2 million square feet and have more than 225 tenants. The financing coincided with an ownership transition and recapitalization of the portfolio.
Tenet Healthcare issued $2 billion of 6.250% senior notes due 2034, with Bank of New York Mellon Trust Company serving as trustee. Tenet plans to use the proceeds, together with cash on hand, to redeem $1.5 billion of senior secured first-lien notes due 2027 and $500 million of senior notes due 2028. The transaction refinances nearer-term maturities with debt due in 2034.
Aon entered into $4 billion of unsecured delayed-draw term loans and a $3 billion multicurrency revolving credit facility, with Citibank serving as administrative agent. The two term-loan tranches mature in 2028 and 2029 and will finance Aon’s acquisition of USI Advantage and related costs. The new revolver matures in 2031 and replaces two $1 billion revolving facilities established in 2021 and 2023.
Deutsche Bank announced plans to issue benchmark-size securities qualifying as Additional Tier 1 capital, with a first call date of October 30, 2033. The issuance is intended to support the bank’s leverage ratio and Tier 1 and Total Capital solvency ratios. The securities will have a €200,000 denomination, with Deutsche Bank acting as sole bookrunner for the placement.
BNY CFO Dermot McDonogh said the company is emphasizing organic growth through new clients, cross-selling and product development after reporting 14 consecutive quarters of sales growth. The bank has increased the number of clients using three or more business lines by more than 60% in recent years and sees additional cross-selling potential in corporate trust, where it services approximately $15 trillion of debt. BNY is also investing in its Eliza AI platform and said AI could help modernize spreadsheet-heavy loan-market processes.
U.S. Bank tested its USBDC dollar-backed stablecoin by transferring funds between its North American and European operations over the Stellar network. The pilot tested the token’s minting, redemption, freeze and clawback capabilities and validated the bank’s internally developed Digital Asset Platform, which connects tokenized assets with its finance, risk, compliance and operations systems. U.S. Bank said the technology could support faster global cash management and money movement, although the bank has not announced a customer rollout.
Wells Fargo Multifamily Capital closed a $115 million Fannie Mae-backed loan for an affiliate of Rockrose Development to refinance the newly completed 301-unit Eagle Lofts Collection, Phase 2 in Long Island City, Queens. Avison Young negotiated the financing, and the property opened last year in Court Square with 70% market-rate apartments and 30% affordable housing units.
SME Capital provided a $58 million construction loan to Lore Development Group and Element Development for the Lincoln, an eight-story, 48-unit boutique condominium project in Miami’s Coconut Grove neighborhood. The 30-month senior financing includes two six-month extension options. Construction began in June and is expected to finish in the third quarter of 2028, with 40% of units already pre-sold.
Fintech Chime said it will acquire nationally chartered Stride Bank for $590 million, a deal that would bring key banking infrastructure in-house as the company looks to expand its lending business.
Monument Realty and 7K Investments acquired the 157K SF office building at 1775 Pennsylvania Ave. NW in downtown Washington, D.C., for $37.5 million and obtained a $52 million acquisition loan from Harbor Group International. The buyers plan a major repositioning of the property, including facade, lobby and building systems upgrades plus new amenities such as conference rooms, gathering spaces, a fitness center and outdoor terrace space.
ExlService entered into new secured credit facilities totaling $1 billion, led by PNC Bank, consisting of a $600 million revolving credit facility and a $400 million term loan, both maturing Aug. 18, 2031. The company used the proceeds to repay about $532.7 million and terminate its 2022 Citibank credit agreement early, with no exit fees. The refinancing increases available liquidity for working capital, acquisitions, general corporate purposes and share repurchases.
J.P. Morgan Chase announced a $750 billion, nine-year push to expand housing across the U.S., using debt, equity and grants to increase supply and homeownership. The initiative targets creation of 1 million affordable housing units and aims to assist 500,000 customers, including an expected 200,000 first-time buyers.
Superior Industries International closed a $130 million senior financing facility with PNC Bank, a transaction arranged by Crown Partners that completes the company’s recapitalization following its acquisition by Oaktree and other institutional investors. The financing is intended to improve liquidity and financial flexibility, with the facility structured around Superior’s global asset base.
QTS Realty Trust, the Blackstone-owned data center operator, increased the size of its planned term loan from $3 billion to $3.25 billion in a leveraged-loan transaction backed by its Project Magnolia portfolio of data centers. JPMorgan Chase is leading the offering, and proceeds are expected to repay construction financing and other existing debt while covering additional corporate costs.
Bank of America hired nine senior investment bankers across its regional investment banking business, adding senior coverage in Austin, Boston, Charlotte, Chicago, Detroit, Minneapolis, New York, San Francisco and West Palm Beach. The expansion strengthens the bank’s middle market and global commercial banking coverage as it continues to grow a regional investment banking platform that has expanded to more than 200 bankers across 26 U.S. cities since 2016.
Mountain Ridge Capital, an asset-based commercial finance company, increased its asset-based lending facility to $400 million from $200 million in a deal agented by Wells Fargo Capital Finance and backed by a syndicate of banks. MRC said the expanded credit capacity will support its growth in the middle market ABL space in 2026 and beyond, with Wells Fargo continuing as a key banking partner alongside five new lenders added to the bank group.
U.S. Bank launched Enhanced Payments, a bundled solution within its online banking platform and mobile app that gives small businesses access to ACH, wires and instant payments. The product adds digital international wires, same-day ACH and lower per-transaction fees, reflecting the bank’s broader push to expand integrated commercial banking payment capabilities for business customers.
JPMorgan Chase hired veteran banker Michael Flynn to lead a newly created small-cap investment banking business, extending its existing mid-cap franchise to serve clients in commercial and specialized industries with enterprise values of roughly $100 million to $500 million. The new unit, part of the bank's broader push to expand client coverage ahead of an expected stronger 2026 dealmaking environment, will operate from hubs in Atlanta, Chicago, Dallas, Los Angeles and New York and initially focus on diversified industries, consumer and retail, and business services.
PNC Bank provided $107.8 million in construction debt to Kolter Group and Rockpoint for the Sutton, a five-story, 432-unit garden-style multifamily development in Palm Beach Gardens, Florida. The project will rise on a 17.6-acre site acquired for $30 million and is expected to be completed in 2028.
JPMorgan Chase, Bank of America, Wells Fargo and PNC Financial Services Group have reportedly held preliminary discussions in recent months about acquiring a debit card network owned by Fiserv. The early-stage talks could give large U.S. issuers more control over debit transaction economics and a potential path around long-opposed federal fee limits, following heightened interest in network ownership after Capital One’s $50.6 billion acquisition of Discover.
Backblaze entered into a Third Amendment to its existing credit agreement with Citizens Bank, increasing the cap on capitalized lease indebtedness to $150 million outstanding. The amendment modifies the negative covenant on capital leases and is intended to give Backblaze greater flexibility for equipment financing, supporting growth and infrastructure needs.
JPMorgan Chase Bank is planning to expand its commercial banking presence in St. Johns through a new SilverLeaf branch, part of a broader push in Northeast Florida that a bank leader previously identified as one of Chase's top growth regions. The move signals continued branch investment and market expansion in a region the bank views as strategically important.
PNC Bank announced the closing of Low-Income Housing Tax Credit Fund 104, a $251.4 million fund led by PNC Multifamily Capital. The fund includes investments from nine financial services and insurance companies, along with PNC, and is expected to support 16 multifamily developments across the U.S. The portfolio is projected to create or preserve more than 1,700 affordable rental homes for families, seniors and underserved populations, with projects spanning Arizona, California, Kentucky, Minnesota, New Mexico, Nevada, North Carolina, Tennessee, Texas, Virginia and Washington, D.C.
Provident Bank appointed Annamaria Vitelli as Executive Vice President, Chief Wealth Officer of Provident Bank and President of Beacon Trust. She will lead the strategic direction and growth of the bank’s wealth management business, including investment management, trust, and fiduciary services, while helping advance an integrated sales model across Provident Bank and Provident Protection Plus.
Center Capital Partners closed a $150 million credit facility with KeyBank to support expansion of its Terminal Logistics Fund II, which targets industrial outdoor storage assets. The facility was anchored by the recapitalization of 23 IOS assets assembled over the past 18 months and will also fund additional acquisitions, with a particular focus on the southern U.S. The portfolio spans Texas, South Carolina, North Carolina, California, Florida, Georgia and Virginia.
National HealthCare entered into a Credit Agreement for a $475 million senior unsecured term loan and a $50 million senior unsecured revolving credit facility with Bank of America and other lenders to finance its planned asset purchase from National Health Investors and for general corporate purposes. The facilities mature five years from the funding date and will replace National HealthCare’s existing 2024 credit facility with Bank of America.
PNC's head of retail banking provided an update on the bank's 2026 new branch rollout, highlighting a significant branch renovation initiative currently underway in Pittsburgh and other legacy markets. These efforts reflect PNC's ongoing investment in its physical branch network, which remains a key component of its commercial banking strategy.
PNC Bank announced a leadership transition in its Northeast Pennsylvania region, with Annmarie E. Andrejko, senior vice president and senior relationship manager, set to succeed Peter J. Danchak as regional president and head of corporate banking. Danchak, the region's longest-serving president, will retire on July 25 after more than 40 years in banking, including 26 years as regional president. Andrejko, who has been with PNC since 1995 and has led relationships with middle market and large corporate banking clients since 2013, emphasized her commitment to maintaining PNC's core principles and supporting clients, the team, and the community.
Bank of America appointed Chris Jameson as head of global trade and supply chain finance, effective June 1, succeeding Geoff Brady. Jameson will remain based in London and continue as head of global payments solutions (GPS) product management for EMEA, overseeing payments, receivables, FX, liquidity, and related services for corporate and financial institution clients.
Provident Bank expanded its Asset-Based Lending (ABL) team by appointing Bruce Gibson as First Vice President, Senior Relationship Manager. Gibson, who brings nearly 40 years of experience in asset-based lending, will focus on originating, structuring, and managing complex ABL relationships, driving new business development, and supporting clients across the Northeast.
JPMorgan will consolidate two existing SouthPark offices in Charlotte, North Carolina, into a 145,000-square-foot corporate office at One Piedmont Town Center, opening in early 2028. The move will allow the bank to expand its Charlotte workforce from 600 to over 1,000 employees, with many new hires in commercial and investment banking. The office will house commercial, consumer, investment, and private banking staff, supporting both local and global clients.
Integra LifeSciences amended its $150 million accounts receivable securitization facility, extending its maturity to April 10, 2029. The company executed Amendment No. 8 to its Receivables Financing Agreement and Amendment No. 1 to the Purchase and Sale Agreement, with PNC Bank as administrative agent and Bank of Nova Scotia among the lenders. The amendments update representations, covenants and concentration limits to better align with current receivables and operational needs, aiming to preserve liquidity and financial flexibility.
PNC Financial reported total revenue of $6.2 billion for the first quarter of 2026, up $94 million from the previous quarter, driven by higher net interest income. The quarter included the successful acquisition and integration of FirstBank Holding, which added $26 billion in assets, $16 billion in loans, and $23 billion in deposits to PNC's balance sheet. Average commercial loans increased by $16.8 billion (7%), and total loans reached $360.9 billion as of March 31, a 7% increase from year-end 2025.
KeyBank, in partnership with payments fintech Qolo, is launching a virtual commercial card issuing program called Key Virtual Card. This move is aimed at countering aggressive efforts by spend management fintechs, which are targeting banks' corporate clients. KeyBank has been working with Qolo since 2024 on ledgering, virtual account management, deposits, and infrastructure, and holds a minority stake in Qolo.
Rithm Capital secured a $282.5 million refinancing for its interest in 1325 Ave. of the Americas, a Midtown Manhattan office building previously part of Paramount Group’s portfolio. The loan, provided by J.P. Morgan Chase, is a nonrecourse, single-asset, single-borrower CMBS loan with a five-year, fixed-rate structure at 6.6% interest. The refinancing will pay off a $205 million balance sheet loan, cover $25.3 million in gap rent, tenant improvements, and closing costs, with Rithm contributing $4 million in equity.
Westlake entered into a $1.5 billion senior unsecured revolving credit facility led by JPMorgan Chase Bank as administrative agent, replacing its prior 2022 revolver. The facility features ratings-based pricing on Term SOFR or ABR, and includes a $150 million letter of credit sub-limit and a $50 million swingline.
JPMorgan is significantly expanding its presence in Charlotte by signing a lease for approximately 137,000 square feet across four floors at One Piedmont Town Center in SouthPark. The move will more than double JPMorgan's office footprint in the city, with relocation expected later in 2026.
PNC Private Bank released its inaugural Business Owner Wealth Insights report, based on a national survey with Ipsos, examining how middle-market business owners manage the intersection of business and personal wealth. The research highlights a strong demand for integrated financial planning, with 89% of respondents valuing advice that addresses both business and personal needs, and 88% seeing value in working with a dedicated adviser who understands both. Despite this, only 55% currently work with an adviser on both fronts. The report also notes that about two-thirds of business owners manage business and personal finances separately. Key challenges identified include managing cash flow (33%) and keeping up with technology (32%). Additionally, while 26% find balancing business reinvestment with tax strategy challenging, 40% are willing to sacrifice tax efficiency to reinvest in their business.
KeyBank Foundation awarded a $200,000 grant to Capital for Change, a Connecticut-based Community Development Financial Institution (CDFI), to expand affordable housing, small business lending and community development initiatives across Connecticut. The grant is part of KeyBank's nationwide initiative to strengthen CDFIs in underserved and undercapitalized communities, aiming to drive long-term economic stability and inclusive growth. The funding will help Capital for Change scale its lending capacity and increase access to capital for projects in communities vulnerable to economic disruption, supporting affordable housing development, small business growth and neighborhood revitalization.
Tigo Energy secured a $10 million asset-based revolving credit facility from Wells Fargo Bank to enhance liquidity and support working capital needs. The facility is governed by a borrowing base tied to accounts receivable and inventory, carries an interest rate of SOFR plus 1.75% to 2.00%, and matures on March 31, 2029. Tigo Energy MergeCo guarantees the obligations, and the agreement includes customary covenants, such as a monthly-tested minimum liquidity requirement.