03/31/2016
Citizens Bank Provides $15 Million Credit Facility to Sonic Franchise Owner Rubyhill Denver LLC
DENVER – Citizens Bank announced today that it has provided a $15 million credit facility to Rubyhill Denver LLC, a multi-unit Sonic franchise restaurant operator.
The Colorado-based restaurant group will use the funds for acquisition financing and capital expenditures.
"Citizens’ Restaurant Finance team has been a great partner," said Surjeet Singh, CEO of Rubyhill Denver LLC. "Citizens has a wealth of experience in restaurant finance and a very client-centric approach. The Citizens team brings great ideas and follows through with excellent execution.”
“We are impressed by Surjeet’s commitment to Sonic and the caliber of the team he has assembled,” said Armando Pedroza, Head of Restaurant Finance at Citizens. “We are bullish on the Sonic brand and this deal is a great example of Citizens' approach to client relationships – doing business with the right operators in the right concepts and bringing them great solutions.”
Citizens Bank’s Restaurant Finance group is a leading national lender focused on meeting the capital needs of multi-unit restaurant owners nationwide including franchisors, franchisees, chain restaurants, and sponsor-owned restaurant operating companies. For more information, go to Citizens Bank.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $138.2 billion in assets as of December 31, 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 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 as Citizens Bank, Citizens Commercial Banking and Citizens One. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.
