Citizens Commercial Banking led a new $300 million revolving credit facility for Nations Fund I, a company managed by Nations Equipment Finance.
Citizens was the lead left bank and joint lead arranger on the transaction, which will provide working capital for Nations, a commercial finance company that provides equipment-based loans and leases to middle market companies. Santander Bank was joint lead arranger and syndication agent.
“Citizens Bank has proven to be a great financial and strategic partner,” said Phil Carlson, CEO of Nations Equipment Finance. “The entire Citizens team brought great ideas to the table and executed the transaction seamlessly.”
“Nations Equipment Finance is a great client and we’re very happy to be able to help them achieve their strategic and financial goals,” said Chris Carmosino, president of Business Capital at Citizens Bank. “Citizens works very hard to be our clients’ lead bank by providing great products and services that deliver value for them at every stage of their business life cycle.”
About Nations Equipment Finance
Nations Equipment Finance specializes in providing equipment loans and leases across a wide spectrum of asset classes including manufacturing, construction, transportation, oil and gas and more. Our investment professionals have decades of experience providing financings to small and medium sized businesses. NEF provides a collateral specific approach to equipment based term loans/leases for new/used equipment (terms up to seven years) to companies operating in the US and Canada. Our transactions range from $1 Million to $50 Million and focus on the underlying collateral value. Visit www.nationsequipmentfinance.com for more information.
About Citizens Financial Group, Inc.
Citizens Financial Group Inc. (NYSE: CFG) is one of the nation’s oldest and largest financial institutions, with $132.9 billion in assets as of December 31, 2014. Headquartered in Providence, Rhode Island, the company offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Consumer Banking helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank and Charter One branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in selective markets nationwide. Citizens Commercial Banking offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance. Citizens operates via subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.