WTEC: Santander Bank Closes $250MM Credit Facility with Wind Turbine & Energy Cables

Santander Bank’s commercial bank closed a $250 million asset-based revolving credit facility on behalf of Wind Turbine & Energy Cables (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.