GLAS News

March 20, 2018

GLAS appointed Escrow Agent on the sale of an Ideal Standard manufacturing plant to Saxa Gres

March 2018 London – Ideal Standard is a multinational company headquartered in Belgium, specialising in bathroom, sanitary ware and plumbing fixtures for homes, airports and hotels. Ideal Standard operates in Europe, the Middle East and North Africa. Saxa Gres is a private Italian company focused on recycling industrial waste into the production of porcelain stoneware […]

Client Services
February 16, 2018

GLAS Trust Company appointed Successor Administrative Agent on EXCO Resources Second Lien Credit Facility

February 2018 NEW YORK – GLAS Trust Company LLC was recently appointed Successor Administrative Agent on EXCO Resources, Inc.’s Second Lien Credit Facility due in 2020. EXCO Resources is an oil and natural gas company engaged in the exploitation, exploration, acquisition, development and production of onshore U.S. oil and natural gas properties with a focus […]

Client Services
January 23, 2018

GLAS USA LLC appointed Agent for RGL Reservoir Management Credit Facility

January 2018, New York GLAS USA LLC, a leading independent provider of Administrative Agent and Trustee services, has been appointed Administrative Agent and Collateral Agent, in connection with RGL Reservoir Management’s recent amended debt facility. RGL Reservoir Management Inc. is a market leader in sand and flow control products in Canada, the USA, South America, the Middle […]

New York
January 18, 2018

GLAS makes key New Year hires in London

January 2018, London  GLAS is delighted to announce it has appointed Joanne Brooks as Head of its London business. Jo joins from Citibank where she was a Director in their Agency and Trust Group and has over 23 years’ experience in both the Loan and Debt Capital Markets. Jo has global experience in transaction and business […]

GLAS Team
November 13, 2017

GLAS appointed Trustee on Miller Homes High Yield Bond Issuance

November 2017, London Last month, Miller Homes Group closed its £425 million high yield bond issuance. GLAS Trustees Limited (GLAS Trustees) acted as trustee on the issuance. The transaction is an important milestone for the corporate trust practice at Global Loan Agency Services Limited (GLAS). Helena Giles, Head of Trustee Services at GLAS noted, “GLAS […]

GLAS Trustee Limited
November 6, 2017

GLAS expands its EMEA Business Development team

November 2017, London GLAS is delighted to announce its most recent Business Development hire, Vanessa Dibello.  Vanessa will work alongside the existing team based in London and will report into our Global Head of Sales, Xavier Poussardin. Vanessa joins GLAS from Intralinks where she expanded client relationships within UK law firms and financial advisors. She […]

GLAS Team
November 3, 2017

GLAS named ‘Best Trustee Services’ firm by ALT Credit Intelligence

2nd November 2017, London GLAS is thrilled to announce it has won the ‘Best Trustee Services’ award at this year’s prestigious ALT Credit European Services Awards ceremony.  GLAS faced a tough crowd in the nominations and tough competition from BNY Mellon, Deutsche Bank, and US Bank. This is the second award GLAS won in relation […]

Events, GLAS Team
October 17, 2017

GLAS appointed Trustee on Russian Fintech Company SimpleFinance

October 2017, London GLAS Trustees Limited (GLAS Trustees) has been appointed as security trustee on the U.S.$100,000,000 European Medium Term Note Programme issued by SF Holdings Company Plc (SimpleFinance). The proceeds of issuances under the programme will be on-lent to Microcredit Limited Liability Company “SimpleFinance”, a Russian fintech company specialising in accessible micro-lending to small […]

Client Services
October 13, 2017

GLAS makes key Deputy General Counsel appointment

13 October 2017, London GLAS is delighted to announce that it has hired Juliette Challenger as Deputy General Counsel for the Group.  Juliette joins from K&L Gates LLP where she was a Senior Associate in the Finance Team.  Before joining K&L Gates, Juliette trained and qualified into the Banking and Finance team at Wragge & […]

GLAS Team
September 18, 2017

GLAS expands European Client Services team

September 2017, London GLAS is delighted to announce its continued growth in London head office with the recent hire of Client Services Manager Manuj Sharma. Manuj joins GLAS from BlueBay Asset Management where he supported the High Yield and Direct Lending business, and managed the companies loan operations setup. Prior to BlueBay, Manuj built up […]

Client Services, GLAS Team
September 5, 2017

GLAS Australia announces appointment to roles in connection with the acquisition of Icon Group

Sydney, August 2017 – Global Loan Agency Services (GLAS) Australia, leading independent agency and security trustee services provider, has assumed Mezzanine Security Trustee and Mezzanine Facility Agent roles in connection with the acquisition of cancer care company Icon Group. The Icon Group is Australia’s largest private provider of cancer care and offers cancer patients three services […]

Australia
March 20, 2018

GLAS appointed Escrow Agent on the sale of an Ideal Standard manufacturing plant to Saxa Gres

March 2018

London – Ideal Standard is a multinational company headquartered in Belgium, specialising in bathroom, sanitary ware and plumbing fixtures for homes, airports and hotels. Ideal Standard operates in Europe, the Middle East and North Africa. Saxa Gres is a private Italian company focused on recycling industrial waste into the production of porcelain stoneware tiles and paving materials, with a production process based on energy saving and the development of renewable energy.

As part of a €30 million transaction, backed by the Italian government, the Lazio regional government and including resources provided by Ideal Standard, an agreement was signed with the Ministry for Economic Development on 12 February 2018 for the transfer of the complete assets of the Ideal Standard Roccasecca manufacturing site to Saxa Gres, through the newco Saxa Grestone.

Saxa Gres will reconvert the site to produce ceramic based cobblestones and transfer the employment of circa 300 workers from Ideal Standard to Saxa Gres within two years.

The transaction, supported by trade unions, the Ministry for Economic Development and the Lazio regional Government, has gained substantial media exposure due to the parties involved and the ability to ensure that a large number of workers will still remain in employment.

Due to GLAS’ ability to take a commercial and pragmatic approach as agent and work to tight deadlines, GLAS was appointed Escrow Agent to receive and hold monies pending distribution upon fulfilment of certain conditions linked to the sale of the manufacturing site.

For more information, please contact media@glas.agency.

Client Services
February 16, 2018

GLAS Trust Company appointed Successor Administrative Agent on EXCO Resources Second Lien Credit Facility

February 2018

NEW YORK – GLAS Trust Company LLC was recently appointed Successor Administrative Agent on EXCO Resources, Inc.’s Second Lien Credit Facility due in 2020. EXCO Resources is an oil and natural gas company engaged in the exploitation, exploration, acquisition, development and production of onshore U.S. oil and natural gas properties with a focus on shale resources.

On January 15, EXCO Resources filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas.

Dan Fisher, who leads GLAS Trust Company says, “The Exco appointment is a major step forward for our rapidly growing restructuring and bankruptcy products and services in the US and globally”.

For more information, please contact media@glas.agency.

Client Services
January 23, 2018

GLAS USA LLC appointed Agent for RGL Reservoir Management Credit Facility

January 2018, New York

GLAS USA LLC, a leading independent provider of Administrative Agent and Trustee services, has been appointed Administrative Agent and Collateral Agent, in connection with RGL Reservoir Management’s recent amended debt facility. RGL Reservoir Management Inc. is a market leader in sand and flow control products in Canada, the USA, South America, the Middle East and Africa.

On 21 December 2017, RGL completed the recapitalization of its balance sheet, reducing the long-term debt by over 80%. GLAS was made Administrative and Collateral Agent on behalf of the Lenders.

Dan Fisher, Head of the Americas for GLAS, says, “We are pleased to have RGL join our rapidly growing book of business for loan agency and collateral agency services in the US and globally.”

For more information, please contact media@glas.agency.

New York
January 18, 2018

GLAS makes key New Year hires in London

January 2018, London

 GLAS is delighted to announce it has appointed Joanne Brooks as Head of its London business. Jo joins from Citibank where she was a Director in their Agency and Trust Group and has over 23 years’ experience in both the Loan and Debt Capital Markets. Jo has global experience in transaction and business management, product management and development, project management, risk and operations. Jo will be instrumental in the continued success and expansion of GLAS’s UK business.

Mia Drennan, Chief Executive, says, “We are absolutely thrilled to have Jo join us. She is highly regarded in the market and we feel that her knowledge and experience is a great addition to the GLAS team. Jo has already made an immediate impact on our business.”

Jo adds, “GLAS is distinguished as the leading service provider in the market and its’ global offering make GLAS well positioned to continue its high success and expansion rate. I am looking forward to further developing the significant platform at GLAS from the UK office.”

In addition to Jo, GLAS has hired Deion Fox as Client Relationship Manager. Deion joins GLAS from Lloyds Banking Group where he was a Relationship Manager in a European Market Lending Team looking after a diverse portfolio of sophisticated Private Asset Managers including Private Equity Funds, Debt Funds, and Infrastructure and Energy Funds. Deion has over 16 years’ experience in the Financial Services market incorporating front, middle and back office experience, giving end to end transactional knowledge and a key understanding of deliverables.

Deion says, “Whilst working in both the Lloyds Bank Agency and Financial Sponsors teams I could see what real value an independent agency function could add and the opportunities that exist for it within the market. I am therefore delighted to be joining such a dynamic firm as GLAS who, with their agility and responsiveness in an ever-increasing demanding environment, have led the way in providing best in class service to its clients. A front office approach to a back-office service is very much evident at GLAS and I look forward to helping the firm continue its growth.”

Mia says, “GLAS is recognised as the leading independent Agency provider with a significant market share in Direct Lending. Deion is well known among this community and we are delighted to have him join us to support the team.”

 

GLAS has also made other recent hires to strengthen its sales and compliance teams.

For more information, please contact:
media@glas.agency

GLAS Team
November 13, 2017

GLAS appointed Trustee on Miller Homes High Yield Bond Issuance

November 2017, London

Last month, Miller Homes Group closed its £425 million high yield bond issuance. GLAS Trustees Limited (GLAS Trustees) acted as trustee on the issuance. The transaction is an important milestone for the corporate trust practice at Global Loan Agency Services Limited (GLAS). Helena Giles, Head of Trustee Services at GLAS noted, “GLAS is delighted to be involved with this important transaction for Miller Homes on this primary issuance in the EMEA region. Our independence as well as our front-office approach, means that GLAS offers a strong alternative to the bank corporate trust providers. We look forward to growing our relationship with Miller Homes”.

Mia Drennan, Chief Executive of GLAS stated, “This transaction underlines the rapid growth of our corporate trust practice, led by Helena. We are seen as a high level, service and people led alternative to the traditional players in the corporate trust space, and we see this as a very important part of our groups growth globally”.

The transaction involved the issuance by Miller Homes Group Holdings plc of £250 million 5.50% senior secured fixed-rate notes due 2024 and £175 million senior secured floating-rate notes due 2023.

The joint global coordinators and bookrunners were Barclays Bank PLC, Deutsche Bank, HSBC Bank PLC, Goldman Sachs International, Jefferies International Limited and Lloyds Bank plc who were advised by Shearman & Sterling (London LLP). The Miller Homes Group Holdings plc was advised by Linklaters LLP. Banque Internationale à Luxembourg (BIL) acted as paying agent. GLAS Trustees and BIL were advised by K&L Gates LLP. Miller Homes was bought by Bridgepoint fund Bridgepoint Europe V.

Following this issuance, Miller Homes Group Holdings plc have acquired Miller Homes Holdings Limited, the parent company of the Miller Group. Founded in 1934, the Miller Group is one of the largest privately-owned U.K. housebuilders by number of property completions. Their business consists of acquiring land; obtaining planning and other consents; overseeing the development of homes and ancillary infrastructure; and then selling the homes to individual customers.

Global Loan Agency Services Limited was established in 2011 as an independent provider of finance administration services. Global Loan Agency Services Limited is a privately-owned business, founded by Mia Drennan and Brian Carne. The company was originally created to provide the market a willing participant in complex loan restructuring transactions where many large institutions are reluctant to take swift and cooperative action. We offer a wide range of administration services developed specifically for the debt market. We are an employee led organisation, with each employee directly participating in the success of the company. GLAS Trustees Limited is a direct subsidiary of Global Loan Agency Services Limited.

For more information, please contact:
media@glas.agency

GLAS Trustee Limited
March 20, 2018

GLAS appointed Escrow Agent on the sale of an Ideal Standard manufacturing plant to Saxa Gres

March 2018

London – Ideal Standard is a multinational company headquartered in Belgium, specialising in bathroom, sanitary ware and plumbing fixtures for homes, airports and hotels. Ideal Standard operates in Europe, the Middle East and North Africa. Saxa Gres is a private Italian company focused on recycling industrial waste into the production of porcelain stoneware tiles and paving materials, with a production process based on energy saving and the development of renewable energy.

As part of a €30 million transaction, backed by the Italian government, the Lazio regional government and including resources provided by Ideal Standard, an agreement was signed with the Ministry for Economic Development on 12 February 2018 for the transfer of the complete assets of the Ideal Standard Roccasecca manufacturing site to Saxa Gres, through the newco Saxa Grestone.

Saxa Gres will reconvert the site to produce ceramic based cobblestones and transfer the employment of circa 300 workers from Ideal Standard to Saxa Gres within two years.

The transaction, supported by trade unions, the Ministry for Economic Development and the Lazio regional Government, has gained substantial media exposure due to the parties involved and the ability to ensure that a large number of workers will still remain in employment.

Due to GLAS’ ability to take a commercial and pragmatic approach as agent and work to tight deadlines, GLAS was appointed Escrow Agent to receive and hold monies pending distribution upon fulfilment of certain conditions linked to the sale of the manufacturing site.

For more information, please contact media@glas.agency.

Client Services
February 16, 2018

GLAS Trust Company appointed Successor Administrative Agent on EXCO Resources Second Lien Credit Facility

February 2018

NEW YORK – GLAS Trust Company LLC was recently appointed Successor Administrative Agent on EXCO Resources, Inc.’s Second Lien Credit Facility due in 2020. EXCO Resources is an oil and natural gas company engaged in the exploitation, exploration, acquisition, development and production of onshore U.S. oil and natural gas properties with a focus on shale resources.

On January 15, EXCO Resources filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas.

Dan Fisher, who leads GLAS Trust Company says, “The Exco appointment is a major step forward for our rapidly growing restructuring and bankruptcy products and services in the US and globally”.

For more information, please contact media@glas.agency.

Client Services
January 23, 2018

GLAS USA LLC appointed Agent for RGL Reservoir Management Credit Facility

January 2018, New York

GLAS USA LLC, a leading independent provider of Administrative Agent and Trustee services, has been appointed Administrative Agent and Collateral Agent, in connection with RGL Reservoir Management’s recent amended debt facility. RGL Reservoir Management Inc. is a market leader in sand and flow control products in Canada, the USA, South America, the Middle East and Africa.

On 21 December 2017, RGL completed the recapitalization of its balance sheet, reducing the long-term debt by over 80%. GLAS was made Administrative and Collateral Agent on behalf of the Lenders.

Dan Fisher, Head of the Americas for GLAS, says, “We are pleased to have RGL join our rapidly growing book of business for loan agency and collateral agency services in the US and globally.”

For more information, please contact media@glas.agency.

New York
January 18, 2018

GLAS makes key New Year hires in London

January 2018, London

 GLAS is delighted to announce it has appointed Joanne Brooks as Head of its London business. Jo joins from Citibank where she was a Director in their Agency and Trust Group and has over 23 years’ experience in both the Loan and Debt Capital Markets. Jo has global experience in transaction and business management, product management and development, project management, risk and operations. Jo will be instrumental in the continued success and expansion of GLAS’s UK business.

Mia Drennan, Chief Executive, says, “We are absolutely thrilled to have Jo join us. She is highly regarded in the market and we feel that her knowledge and experience is a great addition to the GLAS team. Jo has already made an immediate impact on our business.”

Jo adds, “GLAS is distinguished as the leading service provider in the market and its’ global offering make GLAS well positioned to continue its high success and expansion rate. I am looking forward to further developing the significant platform at GLAS from the UK office.”

In addition to Jo, GLAS has hired Deion Fox as Client Relationship Manager. Deion joins GLAS from Lloyds Banking Group where he was a Relationship Manager in a European Market Lending Team looking after a diverse portfolio of sophisticated Private Asset Managers including Private Equity Funds, Debt Funds, and Infrastructure and Energy Funds. Deion has over 16 years’ experience in the Financial Services market incorporating front, middle and back office experience, giving end to end transactional knowledge and a key understanding of deliverables.

Deion says, “Whilst working in both the Lloyds Bank Agency and Financial Sponsors teams I could see what real value an independent agency function could add and the opportunities that exist for it within the market. I am therefore delighted to be joining such a dynamic firm as GLAS who, with their agility and responsiveness in an ever-increasing demanding environment, have led the way in providing best in class service to its clients. A front office approach to a back-office service is very much evident at GLAS and I look forward to helping the firm continue its growth.”

Mia says, “GLAS is recognised as the leading independent Agency provider with a significant market share in Direct Lending. Deion is well known among this community and we are delighted to have him join us to support the team.”

 

GLAS has also made other recent hires to strengthen its sales and compliance teams.

For more information, please contact:
media@glas.agency

GLAS Team

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