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In the Marketplace
AP Equipment Financing of Walnut Creek, CA, has named Nick Gibbens senior vice president of vendor finance. His primary objective in this new role is the establishment of vendor finance relationships and programs in newly targeted industry verticals. Gibbens previously held management positions at Bank of the West, Trinity Capital Corporation and United States Leasing Corporation.
The Greenbrier Companies, Inc. of Lake Oswego, OR, and Tokyo-based Mitsubishi UFJ Lease & Finance Company Limited (MUL) are substantially expanding the parties' existing commercial relationship in North America. Pursuant to a Memorandum of Understanding, MUL will grow its portfolio from 5,000 railcars to a total of 25,000 railcars over the next four years. The parties' agreement includes a multi-year purchase commitment by MUL for 6,000 newly manufactured railcars from Greenbrier through 2020. Further, MUL has committed to obtain all its newly manufactured railcars exclusively from Greenbrier through 2023. In addition, MUL will supplement its portfolio growth through a combination of lease syndications and used equipment owned and originated by Greenbrier. The combined value of the transaction exceeds $1 billion and follows a successful 2014 railcar lease syndication and asset management partnership between the parties.
International aircraft leasing company Avolon Holdings Limited, has completed the acquisition of the aircraft leasing business of CIT Group Inc., making Avolon the world's third largest aircraft leasing company with a combined fleet of 868 aircraft valued at over US$43 billion (as of Dec. 31, 2016). Avolon's financial advisers for the transaction were UBS Investment Bank and Morgan Stanley & Co. LLC. Weil, Gotshal & Manges LLP, Clifford Chance LLP and Maples and Calder acted as Avolon's legal advisers.
Auto finance company, MUSA Auto Finance, of Dallas, TX, has entered into a $125 million warehouse facility with Goldman Sachs and additionally, secured a capital investment of up to $50 million from Crestline Investors, Inc. The capital investment along with the warehouse facility will provide MUSA Auto Finance with the funding to launch its auto leasing program nationwide this year. MUSA plans to begin originating new and pre-owned leases strategically in key U.S. major markets, with continued geographic expansion and market penetration in 2017 and 2018.
AP Equipment Financing of Walnut Creek, CA, has named Nick Gibbens senior vice president of vendor finance. His primary objective in this new role is the establishment of vendor finance relationships and programs in newly targeted industry verticals. Gibbens previously held management positions at
International aircraft leasing company Avolon Holdings Limited , has completed the acquisition of the aircraft leasing business of
Auto finance company, MUSA Auto Finance, of Dallas, TX, has entered into a $125 million warehouse facility with
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