Wells Fargo Agents
amended its credit agreement to extend the term,
dated November 7, 2007,
through February 7,
2019 and to increase the
to $400 million. Wells
Fargo served as administrative agent, lender
and co-agent. Sumitomo
Mitsui Banking, New
York Branch also
served as a lender,
and SMBC Nikko
served as co-agent.
US Capital Advises on $2M
Convertible Debt Financing
US Capital Partners
was engaged by Provia
Laboratories as its
strategic advisor for a $2
million convertible debt
financing. Provia will
use the new financing
to expand sales and
retire existing debt and
All mortgages, loans and lines of credit are subject to approval. Certain fees and restrictions may apply. Flushing Bank is a portfolio lender with a wide range of loan programs offering various rates and terms. All
loan rates and offers are subject to change and termination without any prior notice. Flushing Bank is a registered trademark
Flushing Bank is pleased to announce these recent commercial loan closings.
For more information about Flushing Bank, call
800.581.2889 or visit www.FlushingBank.com.
$1,500,000 Line of Credit and $500,000 Term Loan
Long Island based Law Firm
Mary Ellen Bianco, SVP
$5,400,000 Mortgage and $500,000 Line of Credit
Long Island based Retail Display Manufacturer
Mary Ellen Bianco, SVP
We’re Flushing Bank, your commercial lending specialist.
2017-01-12 FBK ad for ABF Journal Jan-Feb 2017.indd 1 1/12/2017 9:52: 45 AM
INDUSTRY NE WS
WELLS FARGO LAUNCHES NEW STRUCTURE FOR INT’L BUSINESS
SEEKING TO BE T TER ALIGN its international banking services with the customers it serves, Wells Fargo will
integrate its International Group into other Wholesale Banking business lines.
“As more of our customers do business globally, our international capabilities and expertise have evolved
and become increasingly important to their success,” said Perry Pelos, senior executive vice president and
head of Wholesale Banking. “We remain committed to serving the global needs of our customers and want our
international services to be well integrated into the business lines that serve them. This new structure simplifies
our operations for the benefit of our customers, and ensures we continue to operate efficiently in today’s
complex business environment.”
Wells Fargo has been investing in and strengthening its international presence and capabilities to serve existing customers doing
business internationally and foreign multinationals doing business in the U.S.
Through its International Group, Wells Fargo provides middle market, large corporate and financial institution customers with a range
of international solutions, including treasury management, credit, payments, financing, foreign exchange and trade services. These services
will now be integrated into the Wholesale Banking group in the following way:
Wells Fargo Foreign Exchange will report to Jon Weiss, head of Wells Fargo Securities. Foreign Exchange is one of the largest
providers of FX services in North America, providing global payment products and risk management hedging and investment solutions for
corporate customers as well as foreign currency and payment services for consumers.
Wells Fargo Global Financial Institutions provides relationship coverage to U.S. banks, international financial institutions,
supranationals, sovereigns and agencies through enterprise-wide product capabilities, including international payment and trade finance
solutions that are delivered across a global platform which focuses on local customer service, compliance and credit risk management.
The business will be combined with the Financial Institutions business in Wells Fargo Corporate Banking to form a single Financial
Institutions business. The combined business will report directly to Pelos.
Wells Fargo Global Banking, which serves U.S. companies, foreign subsidiaries and multinational corporations engaged in international
business, will become part of both Wells Fargo Corporate Banking and Wells Fargo Middle Market banking.
Wells Fargo Global Trade Services, which provides companies with trade services and financing, including letters of credit,
documentary collections, open account services, online trade management tools and cross-border financing, will become part of Wells
Fargo Middle Market Banking.
International Treasury Management, which provides solutions to make and collect international payments, will become part of Wells
Fargo Treasury Management, which is now part of the Payments, Virtual Solutions and Innovation group. n