02/04/2015
Charter One announces $24.4 million in financing for The Medical Center Company
CLEVELAND – Charter One and Citizens Commercial Banking announced today that it has funded $24.4 million of the Medical Center Company’s recent refinancing of existing debt.
The Medical Center Company is a not-for-profit district energy company formed in 1932 that serves Case Western Reserve University, University Hospitals Case Medical Center and seven other not-for-profit institutions located in the University Circle area of Cleveland. Specifically, the company engages in the production, purchase and distribution of energy used for lighting, power, heating, cooling and other purposes. The company also maintains and operates the plant and equipment necessary to carry out those activities.
“Citizens Commercial Banking was able to structure financing that helped us meet our goals,” said Scott C. Wilson, vice president of finance and administration of The Medical Center Company. “Citizens bankers are excellent financial partners who bring innovative ideas to the table, excel at execution and provide great services.”
“The Medical Center Company is a great example of Cleveland institutions working collaboratively,” said Joseph DiRocco, Ohio president of Charter One and Citizens Commercial Banking. “We are pleased to be able to help The Medical Center Company management team achieve their financial 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.
