06/02/2016
Citizens Bank leads $1.15 billion credit facility for Matthews International Corp.
Funds will be used to refinance debt with proceeds going toward general corporate purposes
PITTSBURGH – Citizens Bank announced today that Citizens Commercial Banking is leading a new $1.15 billion senior secured credit facility for Pittsburgh-based Matthews International Corporation.
Founded in 1850, Matthews International Corporation is a global provider of brand solutions, memorialization products and industrial automation solutions with more than 10,000 dedicated employees in more than 25 countries on six continents.
The new $1.15 billion credit facility replaces an existing $900 million credit facility and will be used to refinance debt and for general corporate purposes.
Citizens was Lead Left Arranger, Bookrunner and Administrative Agent in the 14-bank group.
“Matthews has been a great client, and we’re happy to be able to offer our industry expertise as well as our capital markets capabilities to help them achieve their strategic and financial goals,” said Daniel K. Fitzpatrick, Pennsylvania President of Citizens Bank.
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 $140.1 billion in assets as of March 31, 2016. 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.
