Santander agreed to sell its retail and commercial banking franchise in Puerto Rico, Banco Santander Puerto Rico, to FirstBank Puerto Rico for a total consideration of approximately $1.1 billion.
Santander Bank appointed Patrick Dunphy as head of its Mid Corporate Banking and Verticals businesses within the Commercial Bank.
First Commonwealth Bank completed the purchase of 14 central Pennsylvania retail banking locations from Santander Bank. This transaction expands First Commonwealth’s presence into the markets of State College, Lock Haven, Williamsport and Lewisburg.
Santander Bank promoted Robert Cerminaro was promoted to commercial banking market director for New England. He will report to David Harnisch, head of Commercial Banking.
Phoenix Tower International, a wireless communications infrastructure provider, closed a $485 million senior secured term loan facility to continue its international expansion.
The Hut Group secured a new $1 billion banking facility to fund further acquisitions. Citibank, JPMorgan, Barclays, HSBC and Santander provided the enlarged facility.
AVANGRID, a sustainable energy company, closed a $2.5 billion sustainability-linked credit facility with JPMorgan as administrative agent and BBVA as sustainability agent.
Santander Bank closed a $38.5 million senior secured equipment and revolving line of credit with Cold Carriers, a refrigerated transportation company.
Santander Bank appointed David Harnisch head of portfolio management, underwriting and strategy in its commercial banking division. Harnisch joins from Citizens Financial where he held a similar position.
Santander Consumer USA Holdings named Scott Powell to succeed Jason Kulas as president and CEO, effective immediately.