Latest news with #JPMorganChaseBank
Yahoo
3 days ago
- Business
- Yahoo
NORDAM Completes Comprehensive Debt Refinancing
TULSA, Okla., June 06, 2025--(BUSINESS WIRE)--The NORDAM Group LLC ("NORDAM" or the "Company") announced it repaid the remaining outstanding principal amount of its Term Loan B issued on 9 April 2019. The instrument was refinanced by the issuance of a new $225mm private credit term loan, due 2031. The new term loan was provided by a group of lenders led by Crestline Investors, Inc. with Crestline Direct Finance, L.P. serving as the Administrative Agent. JPMorgan Chase Bank, N.A. and Huntington Business Credit, arranged the facility as Joint Lead Arrangers and Bookrunners. Additionally, the Company entered into a new $100mm ABL revolving credit facility, due 2030, provided by JPMorgan Chase Bank, N.A. and Huntington Business Credit. "This is an important milestone for NORDAM as we embark on our next chapter of growth," said NORDAM CEO Meredith Siegfried Madden. "We are pleased to secure backing from Crestline and additional lending investors and look forward to providing world-class products and services to our valued customers. With Crestline's partnership, we believe we are well positioned to execute on our strategic plan, expand our business and take advantage of the many growth opportunities that lie ahead." Michael Aingorn, Senior Managing Director at Crestline Investors, Inc. commented, "We are impressed by NORDAM's strong position in the aerospace value chain and are excited to partner with Meredith and her team to support the Company's future growth. We believe that NORDAM's manufacturing expertise and deep customer relationships position the Company well to capitalize on the continued growth in the aerospace industry." NORDAM was advised by Davis Graham & Stubbs LLP. Paul Hastings LLP served as legal advisor to Crestline Investors, Inc. while Simpson Thatcher & Bartlett LLP advised JPMorgan Chase Bank, N.A. and Huntington Business Credit. ABOUT NORDAM Founded in 1969 on family values and now employing 2,500 people across multiple, strategically-located operations and customer support facilities around the world, Tulsa-based NORDAM is one of the largest independently owned aerospace companies. The firm designs, certifies and manufactures integrated propulsion systems, nacelles and thrust reversers for business jets; builds composite aircraft structures and spacecraft components, interior shells, custom cabinetry and radomes; and manufactures aircraft transparencies, such as cabin windows, wing-tip lens assemblies and flight deck windows. NORDAM also is a major third-party provider of maintenance, repair and overhaul services to the military, commercial airline and air freight markets. Learn more at ABOUT CRESTLINE INVESTORS Crestline Investors, Inc. is an alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York, Toronto, and Tokyo. The firm has approximately $18 billion in assets under management (as of December 31, 2024), and is specialized in private credit strategies, offering a diverse range of investment solutions across its direct lending, opportunistic, and portfolio finance platforms. For more information, visit View source version on Contacts NORDAM Media Relations +1 918-878-4000MarCom@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
Jamie Dimon isn't ruling out a recession yet
JPMorgan Chase Bank (JPM) CEO Jamie Dimon is warning that a recession isn't 'off the table' despite the recent trade truce between the United States and China. Dimon made the comments in an interview with Bloomberg TV while attending JPMorgan's annual Global Markets Conference in Paris and cited the global geopolitical tensions as a variable to watch. 'The geopolitical situation is very tense, very difficult, and hard to resolve,' he said of the trade wars and the military conflicts currently rattling the globe. He did also note that some of the uncertainty shadowing the markets pre-dates the Trump administration, citing large deficits, inflation, and higher interest rates. 'I will defer to economists who give it about a 50 percent chance,' Dimon said, adding that all of the geopolitical uncertainty is inflationary and slowing the economy. His comments also come amid the slowing of consumer spending, which some economists worry could tip the nation into a recession. Data released Thursday by the U.S. Census Bureau show that overall consumer spending was flat in April, rising 0.1 percent after rising 1.7 percent in March. The report noted that there may have been no increase at all in April and that the .01 is within the survey's margin of error. Sporting goods and hobby stores saw sales trend downward by 2.5 percent, leading the declines, while spending at department stores fell 1.4 percent. Economists say that a continued de-escalation of the U.S.-China trade war would help relieve the economic pressure. Goldman Sachs (GS), for instance, lowered its odds of a recession in the U.S. this year from 45 percent to 35 percent on Tuesday in the wake of the easing of the tariffs between the two countries. For the latest news, Facebook, Twitter and Instagram.
Yahoo
08-05-2025
- Yahoo
Man accused of fatal Urbana hit-and-run charged with federal identity crimes
URBANA, Ill. (WCIA) — The man accused of a fatal hit-and-run that killed two women in Urbana is now charged with federal false identification crimes. On Tuesday, a federal grand jury indicted 29-year-old Julio Cucul-Bol, a Guatemalan national, on charges of possessing a false permanent resident card, possessing a false Social Security card, false use of a passport and making a false statement on a bank application. He is associated with addresses in both Rantoul and Urbana. 'We're broken'; Family of Urbana deadly crash victim reflects on a life cut short This indictment alleges that on Nov. 10, 2023, Cucul-Bol falsely stated that his name was Juan Jahaziel Saenz Suarez in an application to JPMorgan Chase Bank and also falsely used a passport. It also alleges that on Jan. 19, 2025, Cucul-Bol possessed a Permanent Resident card and a Social Security card that were both fake. If convicted of false use of a passport, possession of a false social security card and possession of a false permanent resident card, he would face maximum statutory penalties of up to 10 years in prison, up to a $250,000 fine and up to three years of supervised release on each count. Additionally, the penalties for making a false statement on a bank application are up to 30 years in prison, up to a $1 million fine and up to five years of supervised release. Young woman visiting friends at University of Illinois killed in Urbana hit-and-run crash Cucul-Bol is already facing over 20 years in prison for the seven counts he was arraigned on regarding the hit-and-run crash on Jan. 19. Participating agencies in the federal investigation include the Department of Homeland Security, Homeland Security Investigations and the Urbana Police Department. Assistant U.S. Attorney William J. Lynch is representing the government in the prosecution. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. For the latest news, weather, sports, and streaming video, head to
Entrepreneur
06-05-2025
- Business
- Entrepreneur
Skechers Goes Private in USD 9.4 Bn Buyout Deal
The transaction, set to close in Q3 2025, will be financed through a mix of equity from 3G Capital and debt arranged by JPMorgan Chase Bank. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Footwear brand Skechers has agreed to be acquired by investment firm 3G Capital in a USD 9.4 billion deal, the company announced Monday. The all-cash offer values Skechers at USD 63 per share—a 28% premium over its last closing price—prompting a 25% premarket surge in its stock to USD 61.90. The buyout comes as Skechers struggles with uncertainty stemming from escalating US-China trade tensions. Last month, the company withdrew its annual forecast, citing the Trump administration's tariff hikes and erratic trade policy. US tariffs on Chinese imports, a key supply source for Skechers, have soared to 145%, heavily impacting the brand's margins. 3G Capital, controlled by Brazilian billionaire Jorge Paulo Lemann, is best known for major deals in the food and beverage sector, including Kraft Heinz. This marks a significant expansion into retail footwear. The transaction, set to close in Q3 2025, will be financed through a mix of equity from 3G Capital and debt arranged by JPMorgan Chase Bank. As Skechers prepares to go private, the deal signals a strategic reset for the brand amid ongoing geopolitical and economic headwinds.
Epoch Times
05-05-2025
- Business
- Epoch Times
Skechers to Go Private in $9 Billion Deal With 3G Capital
Skechers has agreed to be acquired by 3G Capital in a deal valued at approximately $9 billion, the companies announced on May 5. The all-cash transaction will take the California-based footwear company private, ending its three-decade run as a public company. The deal was unanimously Skechers said it will continue to be led by Chairman and CEO Robert Greenberg, President Michael Greenberg, and Chief Operating Officer David Weinberg, with no changes to its senior leadership team or headquarters in Manhattan Beach, California. 'Over the last three decades, Skechers has experienced tremendous growth,' Greenberg said in the statement. 'Our success has been due to our commitment to excellence and innovation across the entire Skechers organization, in-demand comfort-focused product offering, and loyal partners. Related Stories 5/1/2025 4/28/2025 'With a proven track record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital. Given their remarkable history of facilitating the success of some of the most iconic global consumer businesses, we believe this partnership will support our talented team as they execute their expertise to meet the needs of our consumers and customers while enabling the Company's long-term growth.' Under the deal, shareholders can choose between two options: receive $63 per share in cash, or elect a mixed option consisting of $57 in cash and one unlisted, non-transferable equity unit in a new, private parent company. 'We are thrilled to be partnering with Skechers,' 3G Capital Co-Managing Partners Alex Behring and Daniel Schwartz said in a joint statement. 'We have immense admiration for the business that this team has built, and look forward to supporting the company's next chapter.' The transaction will be financed through a combination of equity from 3G Capital and debt funding provided by JPMorgan Chase Bank. The Greenberg family, which controls about 60 percent of Skechers' voting power, has already approved the transaction by written consent. Skechers is a Fortune 500 company and the third-largest footwear brand in the world by revenue. The company generated a record $9 billion in sales in 2024, with net earnings of $640 million. Skechers shares rose 25 percent at the opening bell on Monday to $61.72 following the news. Skechers said it will continue to focus on key growth areas, including product innovation, international development, direct-to-consumer expansion, domestic wholesale growth, and global infrastructure investments. The Associated Press contributed to this report.
