Entaire Global Cos., a diversified financial services company, revealed that German bank DZ Bank has provided its Global One Financial Inc., a lending subsidiary, with $60 million. The company also established a facility with Crédit Agricole and BB&T Capital Markets, Comerica Bank and Wells Fargo Bank last year.
Entaire Secures $60MM in New Funding from DZ BANK
ATLANTA–Entaire Global Companies, a diversified financial services company, announced today that its lending subsidiary, Global One Financial, Inc. has closed an enhancement to its funding facilities with the addition of a $60 million commitment from DZ BANK.
“We are excited to be a part of expanding Global One’s broad market presence. The long-term prospects for the business are significant and Global One and its affiliates have a proven track record that we find unique and dynamic”
The transaction further expands the Company’s existing conduit-funded credit facility implemented with Crédit Agricole Corporate and Investment Bank in June of last year. Other participants included BB&T Capital Markets, Comerica Bank and Wells Fargo Bank. Entaire was represented by Gary Roth, a Partner at Alston & Bird LLP in New York, while DZ was represented by Kurt Skonberg of Kaye Scholer LLP.
The new alliance is intended to provide an increase in flexible financing capacity for Global One while expanding DZ’s conduit presence in the US marketplace. Funding from DZ will continue to fuel Entaire’s growth strategy, providing greater flexibility to tailor its Leveraged Planning® Programs to meet the needs of its clients in a rapidly evolving financial market.
As the Company’s lending subsidiary, Global One offers funding to Leveraged Planning Program borrowers and the growing client list of Entaire’s subsidiaries, Global Financial Distributors and Allied Marketing Partners.
“DZ BANK is an excellent funding partner for us to expand our proprietary financing programs,” said Jonathan D. Rosen, CEO and Chairman of Entaire’s Board of Directors. “The expertise, sophistication and access to capital of DZ BANK will greatly enhance our ability to open new markets and make our existing products even more attractive.”
“We are excited to be a part of expanding Global One’s broad market presence. The long-term prospects for the business are significant and Global One and its affiliates have a proven track record that we find unique and dynamic,” said Jayan Krishnan, Senior Vice President in the Asset Securitization department of DZ BANK.
Entaire Global Companies, Inc. a privately held, diversified financial services holding company, is headquartered in metropolitan Atlanta, GA. Founded in 1997, Entaire is dedicated to providing unique financial strategies and solutions through its subsidiary companies to a diverse corporate client base. Entaire’s affiliations with world-class financial institutions and insurance companies enable it to offer innovative solutions for businesses, medical practices and individuals – with an advantage in tax efficiency, stability and selectivity over traditional financial vehicles. For more information, please visit www.entaire.com.
About DZ BANK
DZ BANK is the fourth largest bank in Germany and acts as central bank for approximately 1,000 cooperative banks. As a cooperative commercial bank, DZ BANK is a well-known partner in Germany and abroad and offers long lasting business experience of over 125 years. DZ BANK’s New York based Structured Finance Asset Securitization unit offers lender finance, structured asset and accounts receivable financing for a wide variety of clients and asset types. For more information, please visit www.dzbank.com.