CIBC announced its new Junior Debt Lending & Advisory team within the bank's US Commercial Banking group. This marks its 17th specialty banking area. The new team follows its addition of an Equipment Finance team in January.
"Our clients require the ideal capital structure to ensure their business' success," said Bruce Hague, President, US Commercial Banking. "At CIBC, we craft tailored lending solutions and offer high-touch advisory and strategic support to help them achieve their ambitions."
The experienced Junior Debt Lending and Advisory team is led by industry veteran Charlie Sheridan. Sheridan, who recently joined the bank as Managing Director and Group Head, brings more than 20 years of industry experience to CIBC. Previously, he served as Executive Director of the Financial Sponsors Group at J.P. Morgan.
The Commercial Banking team's new specialty group provides subordinated debt and second lien loans. They lend against their own balance sheet and leverage a proprietary network of lenders and investors, as needed. CIBC delivers their Junior Debt Lending and Advisory capabilities across a variety of industries in the US and Canada, serving a wide range of purposes, which include:
- Acquisition financing
- Capital expenditures
- Recapitalizations
- Growth capital
- General working capital needs
"Financial needs can be complex, but our specialized and relationship-driven approach simplifies our clients' banking experience," said Hague.