09/14/2015
Citizens Bank Provides $39.5 Million Term Loan to John’s Incredible Pizza Company
Company using funds to refinance and to develop new locations within the next year
LOS ANGELES – Citizens Bank announced today that it provided a $39.5 million term loan to John’s Incredible Pizza Company, a Rancho Santa Margarita, CA-based chain of pizza and entertainment centers.
The loan facility includes a $30.5 million term loan as well as a $9 million development line, which the company will use to open new locations in the next year.
“The Citizens team was able to structure the right financing to help us meet our goals,” said John Parlet, John's Incredible Pizza CEO and founder. “Citizens bankers are excellent financial partners who bring good ideas to the table, excel at execution and provide great customer service.”
“John’s Incredible Pizza Company is a terrific operator in a strong restaurant segment,” said Armando Pedroza, head of the general restaurant financing team within Citizens Restaurant Finance. “The Citizens team is excited to partner with John’s in helping them to grow its very successful chain.”
Citizens is a top national restaurant lender focused on meeting the capital needs of multi-unit restaurant owners nationwide including franchisees, franchisors, chain restaurants, and sponsor-owned restaurant operating companies. For more information, go to Citizens Commercial Banking.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $137.3 billion in assets as of June 30, 2015. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle‐market companies, large corporations and institutions. In Consumer Banking, Citizens 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 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 select markets nationwide. In Commercial Banking, Citizens 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 through its 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.
