GLAS News

December 9, 2016

Success at the ALT Credit Awards Ceremony

GLAS is thrilled to announce it has won the best in class award for client services in debt and loan administration. GLAS won this award despite tough competition from BNY, Cortland, TMF, US Bank and others. Speaking at the Alt Credit Intelligence European Performance Awards 2016 at Plaisterers’ Hall in London,  CEO Mia Drennan said, […]

Client Services, Events, GLAS Team
December 3, 2016

GLAS appointed as Successor Trustee

GLAS has been appointed as successor trustee on three series of Notes issued by Edcon. The Company has launched a comprehensive restructuring of its entire capital structure, which will include a South African Compromise Process in relation to the notes and has the support of a large number of its creditors. GLAS will continue to […]

New Business
December 1, 2016

GLAS appointed as Successor Mezzanine Agent for Perstorp

GLAS has been appointed as successor mezzanine agent, replacing Deutsche Bank, to support the refinancing of Perstorp. PAI Partners GLAS has been appointed successor mezzanine agent by PAI Partners and majority lenders to support the refinancing – the world leader in the production of speciality chemical additives. “As agent for the Mezzanine, GLAS has supported […]

Client Services, New Business, Restructuring
November 28, 2016

GLAS hires former DB big gun to spearhead its Capital Markets offering

GLAS hires Head of Capital Markets Business Development to build out trustee business London, 28th November 2016 GLAS, the leading independent provider of finance administration services, has appointed Xavier Poussardin as Head of Capital Markets Business Development (EMEA). He will be responsible for expanding GLAS’ services beyond direct lending and entering new geographies. Xavier’s appointment […]

GLAS Team
August 25, 2016

We’re hiring in Singapore!

We are seeking a senior sales person in Singapore with both a strong network of regional contacts, together with proven expertise and knowledge in both the Loan Agency and Bond Administration space in APAC. Language skills are key and preference will be shown for candidates with either Mandarin and/ or Bahasa Indonesia/ Bahasa Malaysia. Knowledge […]

GLAS Team
August 15, 2016

GLAS growth continues with Singapore office

15th August 2016 Industry expert Paul Wilden will lead expansion in Asia Pacific GLAS, the independent provider of finance administration services, has launched in Asia, with Paul Wilden appointed to spearhead the Singapore-based operations. This move has been driven by the increased demand for alternative loan and paying agency, and escrow service providers as banks […]

Client Services, GLAS Team
February 9, 2016

We’re hiring new staff!

We are hiring new staff again at GLAS London. We are seeking motivated, client focused individuals to add to our growing teams in both Transaction Management and Client Services. If you have excellent loan agency experience get in touch, contact stuart.draper@glas.agency

GLAS Team
January 29, 2016

Unveiling GLAS and our new brand identity…

From now on, we’ll be known simply as GLAS. Not only have we been battling the snowstorms in New York with our US launch, but we’re also unveiling our new look and name. Our new brand style has been developed by creative agency Rye Design. CEO, Mia Drennan explains: “We’ve come a long way since […]

Other News
June 1, 2017

GLAS Australia assumes agency and trustee roles for Slater & Gordon’s finance facilities

Sydney, June 2017

GLAS Australia, the leading independent Agency services provider, has been mandated with key Security Trustee and Facility Agency roles in relation to the finance facilities provided to law firm Slater & Gordon.

Team well positioned

The GLAS team was particularly well positioned to assume these roles given GLAS’s global reach, and will service this transaction with a global team spanning its Australian and UK offices.

Barnaby Webb, Head of GLAS APAC said:

“GLAS Australia is delighted to have assumed these agency and trustee roles.  We have put together a global team to provide 24/7 coverage across all relevant jurisdictions.  GLAS is looking forward to working closely with Slater & Gordon and the lender group.  Special thanks to our key supporters and facilitators on this deal Gilbert + Tobin, Sullivan & Cromwell, and of course Slater & Gordon. A special mention also to Westpac and their counsel Ashurst who helped make this transition a very smooth process”.

More information

Barnaby Webb, Head of GLAS APAC:  barnaby.webb@glas.agency
Kate White, General Counsel, GLAS Australia:  kate.white@glas.agency

Australia, Other 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 Hale and Dorr, and the petitioning lenders are represented by Kirkland & Ellis. The case number is 17-12642 (MKN).

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

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 representing GLAS.

If you have any questions or would like to arrange a meeting, please contact samantha.dinnan@glas.agency.

 

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 Exchange.

Barminco Logo

Barminco is an international leader in the hard rock underground mining and production contract mining sector.

The GLAS Australia team took a pragmatic and flexible approach to ensure that the tight transaction deadlines were met.

Gresham Partners said, “We saw the benefits of appointing an independent Agent/Security Trustee on the transaction, and so took this opportunity to work with GLAS for the first time. They were proactive, commercial, client-focused and had a deep understanding of the broader transaction. We look forward to working together in the future”.

Barnaby Webb, Head of GLAS Australia said, “GLAS Australia was delighted to have the opportunity to work on this transaction, which adds to our growing portfolio of deals in the mining and mining services industries. We were able to leverage the use of our global team in order to help turn around documents quickly given the tight timeframes involved. Special thanks to our key supporters and facilitators on this deal Gresham, Baker McKenzie, King & Wood Mallesons and, of course, Barminco.”

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, 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 Vice-Presidents of Corporate Trust and Agency Administration for the Americas and its newly established trust services.

This announcement comes after GLAS Trust Company recently received its US regulatory approval, allowing the organization to further diversify its current product offerings. The expertise of Reed and Berman is ideal, as the new license offers GLAS the opportunity to significantly expand its market share.

Martin Reed is a senior financial professional with over a decade experience in client management in corporate debt products. Prior to joining GLAS, he served as Vice President at Wells Fargo where he managed relationships of clients issuing and investing in the Corporate Debt product, including High Yield, Investment Grade and Money Market Instruments. Adam Berman joins from Wilmington Trust where he served as Vice President and team leader of the European High Yield Debt Team. His vast experience in Europe and Latin America will be essential to GLAS as it continues its expansion.

“I am eager to help GLAS build its market share in Americas and in a changing marketplace internationally,” Reed said. Berman added, “I am confident we will attract many clients with our nimbleness, flexibility and ability to take on more risk at a time when larger institutions are paring down their trust service offerings.”

In their new roles, Reed and Berman will help GLAS Americas expand its regional trust capabilities in the US amid a more widespread increase in global restructuring and insolvency activity. Latin America in particular, is a strategically important region, since GLAS is one of the few firms equipped to provide loan and trustee services there.

Mia Drennan, CEO of GLAS in London, said: “The addition of Martin and Adam to our team puts us in an exceptional position to expand our service offering in the US and beyond. Their combined expertise will further strengthen our corporate trust and loan services specifically in the restructuring space we are extremely pleased to have them aboard. This comes at a very opportune time, as the launch of GLAS Trust represents a pivotal moment for our business in the Americas.”

Dan Fisher, Executive Vice President and Head of the Americas said, ‘We are thrilled to welcome Martin and Adam to our growing international team. Their combined years of experience will be a major asset for the firm as we look to increase our global corporate trust and loan administration business in a market with tremendous growth potential.”

For more information please contact:
Mia Drennan – mia.drennan@glas.agency
Dan Fisher – dan.fisher@glas.agency

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 relating to Abengoa’s global €8.9bn debt pile, which received support from 86% of the creditors and was submitted to the Spanish court in October 2016.

Peerless credentials

GLAS was appointed due to its peerless credentials in the European restructuring market, expertise in Spain and a commercial, pro-active and flexible approach.

Company side lawyers Linklaters said “GLAS were a pragmatic, incredibly responsive and facilitative Restructuring Agent, all of which were vital in completing one of the largest and most complex European restructurings to date.

Mia Drennan, CEO said:

“We were delighted to be part of this momentous restructuring, this was a highly complex transaction with many stakeholders. Each restructuring is different and our wealth of experience allows us to add value for a successful completion.”

GLAS were already mandated as Agent, Security Agent and Calculation Agent on two rescue financings put in place in March and September 2016.

Debt for equity swap

Post restructuring, which completed at the end of March 2017 and resulted in a debt for equity swap, GLAS will continue its relationship with the Spanish Engineering and renewables group acting as Agent and Security Agent on their new money term loan.

For more information please contact:
Mia Drennan, mia.drennan@glas.agency 
Joe Knight, joe.knight@glas.agency 

Client Services, Restructuring
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
June 1, 2017

GLAS Australia assumes agency and trustee roles for Slater & Gordon’s finance facilities

Sydney, June 2017

GLAS Australia, the leading independent Agency services provider, has been mandated with key Security Trustee and Facility Agency roles in relation to the finance facilities provided to law firm Slater & Gordon.

Team well positioned

The GLAS team was particularly well positioned to assume these roles given GLAS’s global reach, and will service this transaction with a global team spanning its Australian and UK offices.

Barnaby Webb, Head of GLAS APAC said:

“GLAS Australia is delighted to have assumed these agency and trustee roles.  We have put together a global team to provide 24/7 coverage across all relevant jurisdictions.  GLAS is looking forward to working closely with Slater & Gordon and the lender group.  Special thanks to our key supporters and facilitators on this deal Gilbert + Tobin, Sullivan & Cromwell, and of course Slater & Gordon. A special mention also to Westpac and their counsel Ashurst who helped make this transition a very smooth process”.

More information

Barnaby Webb, Head of GLAS APAC:  barnaby.webb@glas.agency
Kate White, General Counsel, GLAS Australia:  kate.white@glas.agency

Australia, Other 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 Hale and Dorr, and the petitioning lenders are represented by Kirkland & Ellis. The case number is 17-12642 (MKN).

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

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 representing GLAS.

If you have any questions or would like to arrange a meeting, please contact samantha.dinnan@glas.agency.

 

Direct Lending, Events, GLAS Team

New Business Enquiries