GLAS Updates

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
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 […]

GLAS Team, New York
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 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
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
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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