UNITED COMMUNITY BANKS INC 8K

United Community Banks, Inc. completed the $2.0 billion cash sale of its Navitas equipment finance business to funds managed by Wafra Inc., enhancing liquidity and refocusing on core Southeastern banking operations.

United Community Banks, Inc. announced that it has completed the previously announced sale of its equipment finance business, consisting of Navitas Credit Corp. and NLFC Reinsurance Corp. (together, Navitas), to funds managed by Wafra Inc., acting through Navitas TopCo LLC, for approximately $2.0 billion in cash, representing a 7% premium to the par value of Navitas’ loan portfolio; the transaction is positioned as an attractive monetization that enhances United’s liquidity and capital strength and allows the company to sharpen its focus on core Southeastern relationship banking and simplify its business model.

Filing Facts

CIK

857855

Ticker

-

Form

8K

Source Type

sec

Accession

0000857855-26-000084

Alert Tier

7