GLAS News

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
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 […]

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 […]

Client Services
May 3, 2018

GLAS Appointed Trustee and Security Agent on Yell Bondco plc Senior Secured Notes

London, May 2018

Yell Bondco plc are issuing £225,000,000 8 ½% Senior Secured Notes due 2023 into Euroclear and Clearstream. The notes pay interest semi-annually and benefit from an English Law Security Interest Agreement, Debenture and Intercreditor Agreement. GLAS Trustees Limited has been appointed Trustee and Security Agent under the transaction documents.

Leading online directory

Yell provides digital marketing services to small businesses and owns Yell.com, the UK’s leading online local business directory.

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

GLAS Trustees Limited
April 30, 2018

CEO Mia Drennan featured in Finance Monthly

GLAS CEO Mia Drennan was featured in the latest edition of Finance Monthly, discussing restructuring trends in the UK.

The lightbulb moment came at the time of the credit crunch and the need for institutional debt to be restructured. Banks were selling loan portfolios to credit funds and looking to exit from the ancillary roles and that was the angle.

It took three months and 400 meetings in the City of London to get our first deal but it was worth the effort and I have never looked back.

Today, we are a global business across all continents with over sixty-five employees.

To read the full article, please click here.

LINKS

Mia Drennan

Restructuring
April 20, 2018

GLAS Appointed Agent on Barings and Bank of Ireland Debt Financing

April 2018, London – GLAS were recently appointed Agent for a debt financing led by Barings and Bank of Ireland. Barings served as lead arranger of a multi-currency financing package to support Bertram Capital’s investment in a merger between U.K.-based Mardix (Holdings) Limited and Anord Control Systems, Ltd. of Dundalk, Ireland, an existing Bertram Capital portfolio company. The merger will form the Anord-Mardix Group, a global provider of power solutions. The Anord-Mardix Group will operate across North America, the UK and Europe.

For more information please contact media@glas.agency.

Client Services
April 20, 2018

GLAS Appointed as Trustee on $10,000,000,000 Repackaging Programme

April 2018, London – GLAS is delighted to announce its recent appointment as Trustee to the ARQ P Notes B.V. Programme, a USD 10bn repackaging programme involving the issuance of notes and warrants linked to the value and performance of underlying shares of certain companies, predominantly in the Middle East. The programme is highly active, undertaking thirty-two series issuances during the first quarter of 2018 alone.

The programme was arranged by Arqaam Capital, a specialist emerging markets investment bank headquartered in Dubai, bringing regional and international product offerings to the emerging markets.

Global Head of Sales at GLAS, Xavier Poussardin, commented “We are thrilled to be involved in this transaction and to add another repack to our portfolio. GLAS’ combined experience across emerging markets and structured finance, coupled with our extensive corporate trust skills and ability to offer quick turnaround of documents for frequent issuances made us the ideal candidate for the role.”

For more information please contact media@glas.agency.

Client Services
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
May 4, 2018

GLAS Americas Appointed Agent on Nine West Holdings, Inc

New York, May 2018

Nine West Holdings, Inc filed a voluntary petition for Chapter 11 bankruptcy court protection in New York. GLAS was appointed Successor Administrative Agent on an Unsecured Term Loan. As Administrative Agent, GLAS Trust Company LLC was appointed to the Official Committee of Unsecured Creditors.

Nine West Holdings, Inc is a leading women’s footwear, accessories and apparel company with brands including Nine West, Anne Klein and Gloria Vanderbilt.

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

New York
May 3, 2018

GLAS Appointed Trustee and Security Agent on Yell Bondco plc Senior Secured Notes

London, May 2018

Yell Bondco plc are issuing £225,000,000 8 ½% Senior Secured Notes due 2023 into Euroclear and Clearstream. The notes pay interest semi-annually and benefit from an English Law Security Interest Agreement, Debenture and Intercreditor Agreement. GLAS Trustees Limited has been appointed Trustee and Security Agent under the transaction documents.

Leading online directory

Yell provides digital marketing services to small businesses and owns Yell.com, the UK’s leading online local business directory.

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

GLAS Trustees Limited
April 30, 2018

CEO Mia Drennan featured in Finance Monthly

GLAS CEO Mia Drennan was featured in the latest edition of Finance Monthly, discussing restructuring trends in the UK.

The lightbulb moment came at the time of the credit crunch and the need for institutional debt to be restructured. Banks were selling loan portfolios to credit funds and looking to exit from the ancillary roles and that was the angle.

It took three months and 400 meetings in the City of London to get our first deal but it was worth the effort and I have never looked back.

Today, we are a global business across all continents with over sixty-five employees.

To read the full article, please click here.

LINKS

Mia Drennan

Restructuring
April 20, 2018

GLAS Appointed Agent on Barings and Bank of Ireland Debt Financing

April 2018, London – GLAS were recently appointed Agent for a debt financing led by Barings and Bank of Ireland. Barings served as lead arranger of a multi-currency financing package to support Bertram Capital’s investment in a merger between U.K.-based Mardix (Holdings) Limited and Anord Control Systems, Ltd. of Dundalk, Ireland, an existing Bertram Capital portfolio company. The merger will form the Anord-Mardix Group, a global provider of power solutions. The Anord-Mardix Group will operate across North America, the UK and Europe.

For more information please contact media@glas.agency.

Client Services
April 20, 2018

GLAS Appointed as Trustee on $10,000,000,000 Repackaging Programme

April 2018, London – GLAS is delighted to announce its recent appointment as Trustee to the ARQ P Notes B.V. Programme, a USD 10bn repackaging programme involving the issuance of notes and warrants linked to the value and performance of underlying shares of certain companies, predominantly in the Middle East. The programme is highly active, undertaking thirty-two series issuances during the first quarter of 2018 alone.

The programme was arranged by Arqaam Capital, a specialist emerging markets investment bank headquartered in Dubai, bringing regional and international product offerings to the emerging markets.

Global Head of Sales at GLAS, Xavier Poussardin, commented “We are thrilled to be involved in this transaction and to add another repack to our portfolio. GLAS’ combined experience across emerging markets and structured finance, coupled with our extensive corporate trust skills and ability to offer quick turnaround of documents for frequent issuances made us the ideal candidate for the role.”

For more information please contact media@glas.agency.

Client Services

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