Santander Bank has tapped Paul Cronin to lead its asset-based lending business in its Commercial Banking division. Arthur Pesavento will join the ABL group as senior vice president and business development officer.
Reuters reported UK supermarket Sainsbury’s closed £3.5 billion ($4.5 billion) in syndicated loans in order to facilitate an acquisition of Walmart’s Asda, which is valued at £7.3 billion ($9.7 billion).
Air France and KLM Airlines renewed their joint €1.1 billion ($1.27 billion) revolving credit facility with a syndicate of 18 banks.
The Wall Street Journal reported that 20 of the world’s biggest banks have lost 25% of their aggregate market value — approximately $465 billion — according to data from FactSet.
Royal Caribbean Cruises entered into credit agreements for the financing of ships scheduled for delivery in fall 2018 and the first half of 2020. Citibank Europe served as facility agent.
Abengoa Yield said it has increased its existing $125 million credit facility with a revolver tanche B for an additional amount of $290 million.
Reuters reported that Banco Santander is buying GE Money Bank, GE Capital’s consumer finance business in Sweden, Norway and Denmark for $950 million.
MicroFinancial’s subsidiary, TimePayment, increased its revolving line of credit from $100 million to $150 million with a bank syndicate led by Sovereign Bank.