Rabobank, Mechanics Bank Agree to Merge
Mechanics Bank agreed to acquire Rabobank in a strategic business combination transaction valued at approximately $2.1 billion. The transaction has been approved by each party’s authorizing board of directors
Mechanics Bank agreed to acquire Rabobank in a strategic business combination transaction valued at approximately $2.1 billion. The transaction has been approved by each party’s authorizing board of directors
Nader Pasdar joined food and agribusiness bank Rabobank as head of Markets North America and CEO of Rabobank Securities. The bank also appointed Chris Hartofilis the new head of capital markets in North America.
Rabobank has named Donald Meltzer, previously global head of Mergers & Acquisitions, chairman of Corporate Finance. Paul Schram, head of M&A, will succeed Meltzer as global head of M&A.
Welsh specialty bakery manufacturer Finsbury Foods secured an additional £15 million ($19 million) finance package from HSBC UK and its other banking partners to support the acquisition of gluten free bakery business Ultrapharm.
Telenet Group Holding successfully issued and priced an additional $475 million term loan, as wells as a €205 million term loan ($231.946 million).
ING agented a new €375 million ($439.256 million) senior credit facility for Riwal Holding Group, an international aerial work platform renter and seller.
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).
Banking veteran Bill Cordingley will step up as head of Rabobank’s Chicago office to lead client-focused work in multiple sectors throughout the U.S.
ING Capital led a $185 million syndicated financing on behalf of Auramet Trading and Auramet International, a precious metals merchant.
Rabobank appointed Gregg Fatzinger and Dean Asofsky as co-heads of its Wholesale Banking M&A business in North America. Asem Mokaddem also joined the same team as a managing director.