06/29/2017
Citizens Bank leads $220 million in financing for acquisition of National Spine & Pain Centers
Credit facility will support Avista Capital Partners’ acquisition from Sentinel Capital Partners
NEW YORK – Citizens Bank announced today that Citizens Commercial Banking led a $220 million credit facility to support Avista Capital Partners’ acquisition of National Spine & Pain Centers from Sentinel Capital Partners. Citizens is Left Lead Arranger and Administrative Agent.
National Spine & Pain Centers is a leading management services organization serving 69 interventional pain management clinics across seven states in the Mid-Atlantic and Northeast.
“Avista Capital Partners’ acquisition of National Spine & Pain Centers demonstrates the strength of Citizens’ sponsor and healthcare teams working together with our clients,” said Doug Cornett, managing director of healthcare banking at Citizens Commercial Banking. “Helping sponsors by providing acquisition financing is just one of the ways that Citizens delivers value for clients at every stage of their business life cycle.”
Citizens is a strategic and financial partner, offering deep expertise, great ideas and seamless deal execution. The Citizens Commercial Banking approach puts clients first, and offers solutions that help clients make the best decisions throughout the life cycle of their business.
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 $150.3 billion in assets as of March 31, 2017. 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.
