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Santander Closes $10MM Line of Credit With OL International

April 11, 2017, 07:05 AM
Filed Under: Transportation

Santander Bank announced that its Corporate and Commercial Banking division has closed a $10 million senior secured revolving line of credit with OL International, an ocean and airfreight cargo transportation provider.

Michael Grande, Senior Vice President at Santander commented, “OL International has a proven track record of providing sophisticated transportation solutions to clients all over the world. As a local bank with a global presence, we understand the nuances of doing business overseas and can help international companies like OL International navigate through the intricacies of working in different countries. By understanding our clients’ specific businesses and financial goals, we can create tailored solutions to help them grow their companies and better serve their customers.” 

Established in 2007, OL International is headquartered in Westbury, New York and has offices in the U.S. and around the world.  The company is owned by Headhaul Capital Partners, a transportation and logistics-focused private equity firm based in New York.

“Santander’s expertise of the global supply chain combined with its diverse global capabilities resulted in a comprehensive solution to our financing needs,” said OL International CEO Alan Baer. “We are excited to continue our growth by providing services that are essential for businesses that operate within a complex trade environment.”

With offices in Connecticut, Massachusetts, New Jersey, New York, Pennsylvania, and Florida, Santander’s asset-based lending group provides specialty structured financing for many types of businesses. Along with other divisions of Santander, including corporate finance, syndications, cash management, and international banking, the asset-based lending team develops customized solutions to help companies leverage their working capital and fixed assets to support significant financing initiatives.

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