GLAS News

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
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
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
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
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

New Business Enquiries