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BANK OF TOKYO-MITSUBISHI UFJ (BTMU) AND UNION BANK TO JOINTLY MARKET POWER AND UTILITY LENDING IN THE U.S.
For Immediate Release
Bank of Tokyo-Mitsubishi UFJ
Daniel W. Weidman
Senior Vice President
Customers to Benefit from Greater Lending Power
New York, February 16, 2010 -- The Bank of Tokyo-Mitsubishi UFJ (BTMU) and Union Bank today announced the introduction of an alliance between their existing power and utility groups in the United States. Beginning immediately, the groups jointly will market BTMU and Union Bank products under the Mitsubishi UFJ Financial Group (MUFG) brand.
The two U.S. power and utilities groups will report to the newly established Power & Utilities Leadership Team, led by Grant Ahearn, Head of Specialized Financial Services, from Union Bank and including Jonathan Lindenberg, Head of Project Finance for the Americas, from BTMU and John Edmonston, Head of the Power and Utilities Group, from Union Bank.
"We are very excited about this new direction and the combined expertise it will bring to all of our clients in the United States," Ahearn said. "Both BTMU and Union Bank have extensive experience in structuring complex financings for power and utility clients. Customers will also benefit from the greater lending power of this alliance."
Lindenberg added "We believe our power and utilities clients utilizing project finance will benefit from the greater market knowledge that the MUFG team will have."
"Our intention is to further familiarize the market with the "MUFG" brand. We expect that the unified efforts of BTMU and Union Bank will position us to achieve stronger results," Edmonston said.
Ahearn added that "moving forward, our combined expertise in facilitating transactions, our solid reputation in the energy industry, and our ability to underwrite and syndicate large transactions should serve our customers very well. We will continue to consider how we can further work together to maximize our client services."