Santander Bank today announced that its Commercial Banking division closed a $75 million asset-based revolving credit facility on behalf of Wind Turbine & Energy Cables Corporation (WTEC). Santander acted as administrative agent, sole lead arranger and sole bookrunner on the credit facility. WTEC is a diversified, leading manufacturer of a wide range of wire, cable and steel products and services for use in the energy sector. WTEC products are used in the wind turbines, solar panels, utility transmission lines and substations and oil and gas drilling industries. The financing will help to further support the company’s long-term growth strategy both domestically and abroad.
“WTEC has been successfully investing in and scaling its U.S. footprint by developing and enhancing its product offerings and capabilities, penetrating new market sectors, and broadening its international operations and reach. We believe the company will benefit from our international expertise and experience in the clean energy space, and we appreciate the opportunity to continue our long-term support of WTEC in this dynamic industry.”
Ellen Marshall
Market Director, New York and New Jersey Middle Market Banking at Santander Bank.
WTEC was founded in 2002 and is globally headquartered in Hasbrouck Heights, New Jersey. The company has systematically developed and constructed a state-of-the-art 50-acre manufacturing campus in Milton, Florida. The campus consists of four facilities with more than 600,000 square feet of indoor manufacturing space to provide scalability and flexibility as the company executes on its growth strategies.
“Santander’s customized approach and global reach made it the perfect financial institution to partner with and support our aggressive growth strategy. We are excited to work with the Santander team as we continue to grow our business”
Sherie Singh-Cho
Chief Financial Officer of WTEC.
Santander Bank, N.A. is one of the country’s largest retail and commercial banks and an active provider of capital, treasury management, risk management and international solutions. Santander earns the loyalty of its commercial banking clients by offering services that help them manage their operating needs, maximize their working capital and grow their businesses domestically and internationally. The Bank is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN) – one of the most respected banking groups in the world with more than 125 million customers in the U.S., Europe and Latin America. For more information, please visit www.santanderbank.com/us/commercial.
MEDIA CONTACTS:
Laurie Kight
214-801-6455
laurie.kight@santander.us
Nancy Orlando
617-757-5765
nancy.orlando@santander.us
Santander Bank, N.A. (“Santander Bank” or “the Bank”) announced today that Pierre P. Habis has been named Head of Consumer and Business Banking, effective May 4, 2020. He will report to Tim Wennes, Santander US CEO and Country Head, and Santander Bank President and CEO.
In his role, Habis will oversee the next phase of the Consumer Bank’s growth and transformation while working to build an array of new competitive products and services for consumers and businesses. He will have responsibility for retail banking and investments, business banking, residential and consumer lending, deposit products, customer experience, marketing, digital, first line risk management and analytics/decision science.
“I am delighted to welcome Pierre to Santander US. His appointment further strengthens our US management team at a critical point as we embark on the next phase of our ambitious transformation plans. Pierre’s deep banking and finance experience will be invaluable as we continue to strengthen our regulatory framework, deepen and improve customer relationships, increase profitability, and enhance our culture.”
Tim Wennes
CEO and President, Santander Bank, N.A.
Santander Bank, N.A. is one of the country’s largest retail and commercial banks with $85 billion in assets. With its corporate offices in Boston, the Bank’s approximately 10,000 employees, nearly 600 branches, more than 2,000 ATMs and 2.1 million customers are principally located in Massachusetts, New Hampshire, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania and Delaware. The Bank is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN) – one of the most respected banking groups in the world with more than 145 million customers in the U.S., Europe, and Latin America. It is overseen by Santander Holdings USA, Inc., Banco Santander’s intermediate holding company in the U.S. For more information on Santander Bank, please visit www.santanderbank.com.
CONTACTS:
Santander US Media Relations
Laurie Kight
214-801-6455
mediarelations@santander.us
Santander Bank Media Relations
Nancy Orlando
617-757-5765
mediarelations@santander.us