GLAS News

May 26, 2017

GLAS Files Involuntary Chapter 11 Petition for PIK Lenders against Eco-Bat Technologies

NEW JERSEY — GLAS USA LLC As administrative agent for PIK lenders, filed an involuntary chapter 11 petition on May 18, 2017 in the Bankruptcy Court for the District of Nevada against Dallas-based EB Holdings II, parent of Eco-Bat Technologies, asserting claims in the total amount of approximately €1.8 billion. GLAS USA, is represented by Wilmer Cutler Pickering […]

Other News
May 25, 2017

GLAS Sponsors The Private Debt European Forum

Paris, May 2017 GLAS, a leading agent in the direct lending space, will be sponsoring the Private Debt European Forum. We look forward to welcoming our clients in Paris at the two-day conference on May 30th and 31st. Keith Miller, Head of Loan Services, and Elizabeth Fitzgibbons, part of the Business Development team, will be […]

Direct Lending, Events, GLAS Team
May 16, 2017

GLAS Australia takes key roles in Barminco senior secured notes issuance

Sydney, May 2017 GLAS Australia, the leading independent Agency services provider, was mandated with key Security Trustee and Revolving Facility Agent roles in Barminco Finance Pty Limited’s raising of USD 350 million Senior Secured Notes and a senior secured AUD 100 million Revolving Credit Facility (and hedging arrangements). The notes are listed on the Singapore […]

Australia, GLAS Team
May 4, 2017

GLAS Adds Veteran Trust Specialists to Americas Team

NEW YORK/LONDON – May 3, 2017 – Global Loan Agency Services Ltd., the UK parent of the global GLAS companies, today announced the appointment of two veteran trust professionals to its global trust team. Martin Reed and Adam Berman, longtime specialists in corporate trust administration and corporate financial services, will help lead GLAS globally as […]

Other News
April 19, 2017

GLAS plays key role in completion of Abengoa debt restructuring

London, April 2017 GLAS, the leading independent Agency services provider, was mandated in the key role as Restructuring Agent on the highly complex Abengoa, S.A. transaction. GLAS was instrumental in centralising communications, managing various waivers and consents and assisting the deal parties in getting the restructuring over the line. The deal involved implementation of a restructuring plan […]

Client Services, Restructuring
March 21, 2017

Orrick, the commercial and legal specialist talks about working with GLAS

The commercial and legal specialists at Orrick talk about their role in assisting GLAS in recent transactions. The Orrick team talks about assisting GLAS in the restructuring of the debt of Edcon Edcon has been under severe pressure over the past few years. GLAS Trust Corporation Limited became trustee of two Senior Secured Notes of […]

Client Services
March 16, 2017

GLAS opens up in Sydney, Australia

GLAS, the independent provider of finance administration services, has announced the opening of an office in Sydney, Australia. GLAS sees growth in its finance administration services in Australia A Sydney office expands the GLAS business in Australia following the opening of its Melbourne office in 2016. Since then, GLAS has seen significant interest in its […]

Australia, Client Services, GLAS Team
March 1, 2017

US regulation helps GLAS expand trust services offering

US regulation – NEW YORK and LONDON—March 1, 2017 Global Loan Agency Services Ltd., the UK parent of the global GLAS companies, today announced that it has now received its US regulatory approval. The newly chartered GLAS Trust Company LLC will be regulated by the State of New Hampshire. Regulation as a trust company will […]

GLAS Team, New York
December 20, 2016

GLAS to act as Trustee for 3i Infotech Limited – the global information technology company

Earlier this year holders of the existing Foreign Currency Convertible Bonds (FCCB’s) 3i Infotech Limited were invited to participate in the exchange offer. GLAS were appointed as Trustee on the new FCCBs and assisted throughout as coordination agent on the exchange process. 3i is a global information technology company based in Mumbai. Compliance Officer Rajeev [...]
Client Services, New Business
December 20, 2016

GLAS to sponsor 2016 Sydney Hobart Yacht Race

Global Loan Agency Services is proud to announce their sponsorship of Team Sonic in the upcoming 2016 Sydney Hobart Yacht Race. CEO Mia Drennan said “This sponsorship coincides with the opening of the GLAS Australian office earlier in 2016, and we are thrilled to be able to support such an iconic Australian event as we […]

Australia, Client Services, Events
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 his experience in loan servicing at Nomura by administering the bank’s portfolio of loan positions.

Manuj stated, “The past few years have seen a clear decline in the service levels provided by many Agency banks. Having worked extensively with the GLAS team in the direct lending space, it has become apparent that a new benchmark in client services has been set.  An experienced and dynamic team are always ready to provide their expertise from deal execution right through the lifecycle of each transaction, which clearly sets GLAS aside from its competitors.  I am very much looking forward to joining such an exciting organisation to help build and grow the client services offering“.

Mia Drennan, CEO, said, “We are delighted to have Manuj join our team, his insight and experience as a previous Client is incredibly important to GLAS as we to continue to develop out our range of products and services.” 

GLAS has offices in London, New York, New Jersey, Singapore, Sydney and Melbourne.

For more information please contact:
Manuj Sharma, manuj.sharma@glas.agency

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 under one roof: medical oncology, radiation oncology and the manufacture/supply of oncology drugs.

The acquiring consortium is led by Australian fund manager QIC and includes Goldman Sachs and Pagoda. Goldman Sachs and Pagoda provided introductions into the healthcare industry in China.

The transaction received Foreign Investment Review Board approval and showcases GLAS Australia’s ability to operate across multiple jurisdictions and deliver within tight timeframes.

Barnaby Webb, Head of GLAS Australia, said, “GLAS Australia is thrilled to be part of this transaction, and looks forward to watching the future growth and expansion of the Icon Group’s operations.  Special thanks to our key supporters and facilitators on this deal Goldman Sachs, QIC, Pagoda, Corrs Chambers Westgarth and King & Wood Mallesons”.

For more information please contact:
Barnaby Webb, Head of GLAS Australia:  barnaby.webb@glas.agency
Kate White, General Counsel, GLAS Australia:  kate.white@glas.agency

Australia
August 7, 2017

GLAS Trust Company appointed Successor Trustee for A.M. Castle Senior Notes

NEW YORK, August 2017 – GLAS TRUST COMPANY LLC, a leading independent provider of Corporate Trustee and Agency Services, has been appointed successor indenture trustee for A.M. Castle & Co.’s Convertible Senior Notes due 2017. A.M. Castle & Co. is a global distributor of specialty metals and supply chain services.

“We are pleased to add A.M. Castle to our rapidly growing portfolio of successor trustee and agency appointments in our newly licensed US Trust Company,” said Daniel Fisher, Executive Vice President of GLAS Trust Company.

GLAS TRUST COMPANY LLC is a subsidiary of Global Loan Agency Services Limited headquartered in London.

For any questions or new business inquires please contact:
Michael Amato
1-212-808-3053
michael.amato@glas.agency

New York
July 31, 2017

GLAS Trust Company appointed successor Trustee for TerraVia Senior Notes

NEW YORK, July 2017 –  GLAS TRUST COMPANY LLC, a leading independent provider of Trustee Services, has been appointed as successor Trustee for TerraVia’s 5% Convertible Senior Subordinated Notes due 2019. TerraVia is a US based biotechnology company.

Mia Drennan, CEO of GLAS said

I am delighted that GLAS Trust Company was able to assist TerraVia on this transaction, the team worked hard to get it over the line. GLAS Trust Company recently received regulatory approval to act as Trustee under the Trust Indenture Act so this appointment is a great step forward in expanding our global footprint as a leader in the corporate bond and loan debt markets.

GLAS TRUST COMPANY LLC is a subsidiary of Global Loan Agency Services Limited.

For any questions or new business inquiries, please contact:
Michael Amato
1-212-808-3053
michael.amato@glas.agency

Client Services
June 26, 2017

GLAS USA appointed as Administrative Agent for Navico Inc. Credit Facility

NEW JERSEY – GLAS USA LLC, a leading independent provider of Administrative Agent and Trustee services, has been appointed Administrative Agent and Collateral Agent in connection with Navico Inc.’s recent credit facility.

GLAS USA LLC is a subsidiary of Global Loan Agency Services Limited.

For any questions or new business inquiries, please contact:
Michael Amato
1-212-808-3053
michael.amato@glas.agency

New York
June 20, 2017

GLAS USA appointed as Successor Administrative Agent for CPEX Pharmaceutical Credit Facility

NEW JERSEY – GLAS USA LLC, a leading independent provider of Administrative Agent and Trustee services, has been appointed as successor Administrative Agent and Collateral Agent in connection with CPEX Pharmaceutical’s existing credit facility.

GLAS USA LLC is a subsidiary of Global Loan Agency Services Limited.

For any questions or new business inquiries, please contact:
Michael Amato
1-212-808-3053
michael.amato@glas.agency

 

GLAS Team, New York
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 & Co LLP (now Gowling WLG). Juliette will be working closely with GLAS General Counsel, Brian Carne.

Mia Drennan, CEO said “I am absolutely delighted that Juliette has decided to join our business at this exciting time in our growth and success”.

Juliette brings with her a wealth of expertise in corporate debt, capital markets and structured finance.  She has advised a variety of market participants including loan agents, trustees, corporate service providers, special servicers, financial institutions, debt funds, lenders, arrangers, and borrowers. Additionally, Juliette has been involved in a variety of complex, multi-jurisdiction transactions advising on new lending, senior and mezzanine lending and related intercreditor issues, receivables financings, and securitisation of commercial real estate mortgages, portfolios of loans, and residential mortgages. Juliette has also provided strategic advice in connection with the restructuring of stressed and distressed debt and assets, workouts and enforcements of debt, defaults and liquidations.

Juliette stated, “I am delighted to have joined the team at GLAS during this exciting time of continued growth for this dynamic business. GLAS’ innovative approach, flexibility and responsiveness makes it adaptable in constantly changing markets and is a distinguishing feature from its competitors in the industry, enabling it to pursue its clearly defined global development strategy, and offers a unique opportunity to work with GLAS’ global offices to provide and co-ordinate the provision of legal services across the growing range of products and services offered across the business.”

For more information, please contact:
samantha.dinnan@glas.agency, 0203 866 1473

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 his experience in loan servicing at Nomura by administering the bank’s portfolio of loan positions.

Manuj stated, “The past few years have seen a clear decline in the service levels provided by many Agency banks. Having worked extensively with the GLAS team in the direct lending space, it has become apparent that a new benchmark in client services has been set.  An experienced and dynamic team are always ready to provide their expertise from deal execution right through the lifecycle of each transaction, which clearly sets GLAS aside from its competitors.  I am very much looking forward to joining such an exciting organisation to help build and grow the client services offering“.

Mia Drennan, CEO, said, “We are delighted to have Manuj join our team, his insight and experience as a previous Client is incredibly important to GLAS as we to continue to develop out our range of products and services.” 

GLAS has offices in London, New York, New Jersey, Singapore, Sydney and Melbourne.

For more information please contact:
Manuj Sharma, manuj.sharma@glas.agency

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 under one roof: medical oncology, radiation oncology and the manufacture/supply of oncology drugs.

The acquiring consortium is led by Australian fund manager QIC and includes Goldman Sachs and Pagoda. Goldman Sachs and Pagoda provided introductions into the healthcare industry in China.

The transaction received Foreign Investment Review Board approval and showcases GLAS Australia’s ability to operate across multiple jurisdictions and deliver within tight timeframes.

Barnaby Webb, Head of GLAS Australia, said, “GLAS Australia is thrilled to be part of this transaction, and looks forward to watching the future growth and expansion of the Icon Group’s operations.  Special thanks to our key supporters and facilitators on this deal Goldman Sachs, QIC, Pagoda, Corrs Chambers Westgarth and King & Wood Mallesons”.

For more information please contact:
Barnaby Webb, Head of GLAS Australia:  barnaby.webb@glas.agency
Kate White, General Counsel, GLAS Australia:  kate.white@glas.agency

Australia
August 7, 2017

GLAS Trust Company appointed Successor Trustee for A.M. Castle Senior Notes

NEW YORK, August 2017 – GLAS TRUST COMPANY LLC, a leading independent provider of Corporate Trustee and Agency Services, has been appointed successor indenture trustee for A.M. Castle & Co.’s Convertible Senior Notes due 2017. A.M. Castle & Co. is a global distributor of specialty metals and supply chain services.

“We are pleased to add A.M. Castle to our rapidly growing portfolio of successor trustee and agency appointments in our newly licensed US Trust Company,” said Daniel Fisher, Executive Vice President of GLAS Trust Company.

GLAS TRUST COMPANY LLC is a subsidiary of Global Loan Agency Services Limited headquartered in London.

For any questions or new business inquires please contact:
Michael Amato
1-212-808-3053
michael.amato@glas.agency

New York
July 31, 2017

GLAS Trust Company appointed successor Trustee for TerraVia Senior Notes

NEW YORK, July 2017 –  GLAS TRUST COMPANY LLC, a leading independent provider of Trustee Services, has been appointed as successor Trustee for TerraVia’s 5% Convertible Senior Subordinated Notes due 2019. TerraVia is a US based biotechnology company.

Mia Drennan, CEO of GLAS said

I am delighted that GLAS Trust Company was able to assist TerraVia on this transaction, the team worked hard to get it over the line. GLAS Trust Company recently received regulatory approval to act as Trustee under the Trust Indenture Act so this appointment is a great step forward in expanding our global footprint as a leader in the corporate bond and loan debt markets.

GLAS TRUST COMPANY LLC is a subsidiary of Global Loan Agency Services Limited.

For any questions or new business inquiries, please contact:
Michael Amato
1-212-808-3053
michael.amato@glas.agency

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