First Union Capital Markets Corp., the securities subsidiary of First Union Corp., said it has provided a range of financing to a French textile company.
Bowles Hollowell Conner, First Union Capital Markets' mergers and acquisitions arm, advised Glass Holdings on its purchase of a majority stake in an Owens Corning unit that makes glass fibers and specialty materials.
First Union Capital Markets in January participated in a $690 million debt package for Glass Holdings, a Greensboro, N.C., subsidiary of French textile giant Groupe Porcher. It led $150 million worth of junk bonds, sole-managed $100 million of senior subordinated notes, and served as administrative agent and arranger on two loan syndications totaling $440 million.
The Charlotte, N.C., banking company also provided two bridge loans to Glass.
First Union Capital Markets formed its furnishings and textiles industry group last February, when it hired managing director and group head Bill Blue from the former NationsBank Corp.