03/05/2014
RBS Citizens provides $32.0 million in financing for Nouria Energy Corporation
Financing will be used to refinance existing debt, provide working capital line of credit, and development facility
BOSTON – RBS Citizens Convenience and Retail Petroleum Finance Group recently completed the closing of a $32.0 million, five-year credit facility with Nouria Energy Corporation, a premier convenience store operator and wholesale fuel distributor in the northeastern states of Massachusetts, Maine, New Hampshire and Rhode Island.
The transaction includes term loan facilities to refinance existing debt, a development line of credit that will be used to finance the acquisition and/or development of new locations, and a revolving line of credit to be used for working capital and letters of credit.
“The RBS Citizens Convenience and Retail Petroleum Finance Group understood our business, which is why they were able to structure a facility that met our needs,” said Tony El-Nemr, Chairman of Nouria Energy Corporation. “This transaction will put us in a great position to meet our growth plans and reach our goal of a half billion gallons and beyond.”
“We appreciate the confidence in us shown by Tony and his team and thoroughly enjoyed working with them. This new relationship demonstrates our capabilities and focus on meeting the needs of our customers in the petroleum industry,” said Mike Phelps, Head of the Convenience and Retail Petroleum Finance Group at RBS Citizens.
The RBS Citizens Convenience and Retail Petroleum Finance Group is focused on meeting the banking and financing needs of the Retail Petroleum/C-Store Industries. With extensive industry expertise, RBS Citizens offers financial support to multi-unit operators nationwide that require credit facilities and national lending capabilities, risk management advisory services, and interest rate derivatives along with a full range of traditional commercial banking products and services.
For information about the RBS Citizens Convenience and Retail Petroleum Finance Group, contact us at 1.855.782.8242 or [email protected].
About RBS Citizens Financial Group, Inc.
RBS Citizens Financial Group, Inc. is a $120 billion commercial bank holding company. It is headquartered in Providence, R.I., and through its subsidiaries has approximately 1,400 branches, over 3,500 ATMs and more than 18,000 colleagues. It operates a branch network in 12 states and has non-branch retail and commercial offices in more than 30 states. Its two bank subsidiaries are RBS Citizens, N.A., and Citizens Bank of Pennsylvania. They operate a branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont; and the Charter One brand in Illinois, Michigan and Ohio. RBSCFG is owned by RBS (The Royal Bank of Scotland Group plc). RBSCFG’s website is citizensbank.com.
