02/04/2015
Charter One announces $16 million in financing for Laurel Health Care Company
Funds will be used to refinance debt for three skilled nursing facilities
COLUMBUS – Charter One and Citizens Commercial Banking announced today a deal with Laurel Health Care Company to refinance $16 million in term debt for three skilled nursing facilities.
Headquartered in Columbus, Ohio, The Laurels operates 42 skilled nursing, sub-acute, rehabilitation and assisted living facilities across five states: Ohio, Michigan, Indiana, Virginia and North Carolina. In total, the organization operates over 4,000 beds/units.
“The Citizens Commercial Banking team really understands our industry and was able to bring great ideas to the table,” said Lynette Mock-Sherman, assistant treasurer of The Laurels. “Citizens bankers are excellent financial partners who excel at execution and provide great services. We look forward to working with them more in the future as we continue to grow.”
“The Laurels is an excellent example of an Ohio company that is thriving and leading its industry,” said Joseph DiRocco, Ohio president of Charter One and Citizens Commercial Banking. “We are pleased to be able to help the management team of The Laurels achieve their business goals.”
For more information about Citizens Commercial Banking, go to citizensbank.com/commercial.
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.
