TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
Intro content. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Curabitur iaculis sapien sagittis, accumsan magna ut, blandit massa. Quisque vehicula leo lorem, a tincidunt eros tempor nec. In quis lacus vitae risus egestas tincidunt. Phasellus nulla risus, sodales in purus non, euismod ultricies elit. Vestibulum mattis dolor non sem euismod interdum.
-
Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
-
The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
-
SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
-
SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
-
It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
-
It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
-
It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
-
Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
-
Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
-
How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
-
Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
-
A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
-
Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
-
Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
-
Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
-
The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
-
Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
-
Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
-
“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
-
Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
.jpg?sfvrsn=f1093d2a_0 "#3 -_ 1 (1)")
September 18, 2023
Source: Santander
Santander Bank, N.A. (“Santander”) today announced that its Commercial Bank closed a $250 million asset-based revolving credit facility on behalf of Wind Turbine & Energy Cables Corp (WTEC). Santander acted as administrative agent, joint lead arranger and joint bookrunner on the credit facility and is one of eight international and U.S.-based banks providing financing to support WTEC’s production, logistics, fleet management and day-to-day operations. This deal builds on WTEC’s $60 million asset-based revolving credit facility led by Santander in 2019, which ultimately grew to $150 million by mid-2022.
WTEC is a leading, diversified manufacturer of electrical cables, wires and steel for use in the renewable energy industry. Founded in 2002 and globally headquartered in Hasbrouck Heights, New Jersey, WTEC has 11 national manufacturing sites, totaling 950,000 square feet of cable, wire and steel facilities that provide scalability and flexibility as the company expands its domestic and international operations.
“Powering wind and solar farms across the country, WTEC is a proven leader in the renewable energy market and is relentlessly focused on investing in new facilities, introducing new products, streamlining processes and enhancing capabilities while continuing to expand its international operations and reach. Santander is uniquely positioned to support WTEC and help them prosper by combining global expertise and advisory capabilities in renewable energy with local knowledge from a dedicated coverage team. We are excited to deepen our relationship with WTEC as they take this next step in their growth strategy and look forward to bringing them new value-add solutions, ideas and technology now and in the future.”
-- ELLEN MARSHALL, HEAD OF NEW YORK AND NEW JERSEY MIDDLE MARKET BANKING
WTEC is labeled as “Green Finance” by Santander under the Sustainable Finance Classification System, which supports Santander Group’s global commitment to lend 220 billion Euro in green finance by 2030. Santander Group is a global leader in sustainability practices, and in the U.S., Santander remains committed to fostering inclusive communities, empowering people and businesses, and supporting the green economy.
“Santander’s passion for providing exceptional client service, experience in the renewable energy space and global resources make them an ideal long-term partner as we continue to develop our business in this dynamic industry,” said Sherie Singh-Cho, Chief Operating Officer of WTEC.
WTEC is a leading, diversified manufacturer of electrical cables, wires and steel for use in the renewable energy industry. Founded in 2002 and globally headquartered in Hasbrouck Heights, New Jersey, WTEC has 11 national manufacturing sites, totaling 950,000 square feet of cable, wire and steel facilities that provide scalability and flexibility as the company expands its domestic and international operations.
“Powering wind and solar farms across the country, WTEC is a proven leader in the renewable energy market and is relentlessly focused on investing in new facilities, introducing new products, streamlining processes and enhancing capabilities while continuing to expand its international operations and reach. Santander is uniquely positioned to support WTEC and help them prosper by combining global expertise and advisory capabilities in renewable energy with local knowledge from a dedicated coverage team. We are excited to deepen our relationship with WTEC as they take this next step in their growth strategy and look forward to bringing them new value-add solutions, ideas and technology now and in the future.”
-- ELLEN MARSHALL, HEAD OF NEW YORK AND NEW JERSEY MIDDLE MARKET BANKING
WTEC is labeled as “Green Finance” by Santander under the Sustainable Finance Classification System, which supports Santander Group’s global commitment to lend 220 billion Euro in green finance by 2030. Santander Group is a global leader in sustainability practices, and in the U.S., Santander remains committed to fostering inclusive communities, empowering people and businesses, and supporting the green economy.
“Santander’s passion for providing exceptional client service, experience in the renewable energy space and global resources make them an ideal long-term partner as we continue to develop our business in this dynamic industry,” said Sherie Singh-Cho, Chief Operating Officer of WTEC.
© 2025 Secured Finance Network
