10/03/2016
Citizens Bank provides $12.5 million revolving credit to Winncom Technologies
CLEVELAND, OH – Citizens Bank announced today that Citizens Commercial Banking is providing a $12.5 million revolving credit facility to Solon, Ohio-based Winncom Technologies Corporation. Citizens is the sole lender.
A new client for Citizens, Winncom offers a full range of broadband wireless networking products, network infrastructure and access products by the leading industry manufacturers sold throughout the world. Winncom will use the funds for working capital.
“Thank you, Citizens team, for your dedicated work and professional efforts that led this important transaction to successful completion,” said Vladimir Fedoroff, Chief Financial Officer of Winncom Technologies Corp. “We look forward to our mutually advantageous cooperation with Citizens Bank.”
“Winncom Technologies is a great new client for Citizens and we’re very happy to help them achieve their strategic and financial goals,” said Joseph DiRocco, Ohio President of Citizens Bank. “Citizens works hard to be your lead bank by providing great solutions and services that deliver value for clients at every stage of their business life cycle.”
For more information about Citizens, visit the Citizens Commercial Banking website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $145.2 billion in assets as of June 30, 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 wealth management, 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.
About Winncom Technologies Corp.
Winncom Technologies Corp. is the premier value-added distributor, working with leading manufacturers to provide cutting-edge network solutions and premium support services. With a far-reaching, international scope, Winncom remains at the forefront of the global technology marketplace, demonstrating a reputation for quality products, a full range of network infrastructure and access products, and a customer-centered business model. The company offers one of the industry's most notable product portfolios along with its scalable solutions, world-class customer service, and outstanding technical support. Winncom’ s extensive experience and engineering resources make it possible for the company to identify, design, and implement the most effective and economical turnkey solutions based on a combination of the latest technologies. With its worldwide presence, Winncom is able to provide the highest level of pre-sales consulting and post-sales engineering support to their customers. For more information, please visit http://www.winncom.com or call 1-888-WINNCOM (1-888-946-6266).
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