Some corporations are willing to oblige, turning instead to new, pricier term loans or revolving credit lines rather than tapping existing ones, industry officials say.
Dozens of firms in industries most immediately hit by the virus and oil-price war — such as leisure, transportation, health care, energy and mining — have been drawing billions of dollars from existing credit lines.
Investment bankers have are trying to drum up interest from investment firms and hedge funds to provide tens of billions of dollars in financing to companies in industries upended by the coronavirus.
A Denver company says that the $410 billion-asset bank used its confidential information to create a copycat product and poach its customers. PNC is contesting the allegations.
Citi, Goldman chiefs say they won’t be pressured to stop financing companies based on carbon footprint; Vodafone bolts from Facebook’s digital currency project.