03/27/2017
Citizens Bank leads $55 million of credit facilities to Godshall’s Quality Meats
Transaction will fund conversion to employee stock ownership plan, facilities expansion
TELFORD, PA – Citizens Bank announced today that Citizens Commercial Banking is leading $55 million of credit facilities for Godshall’s Quality Meats in support of the company's employee stock ownership plan (ESOP) conversion and upcoming facilities expansion. Citizens will serve as Lead Left Arranger and Administrative Agent for the facilities.
“We appreciate the expertise of the team at Citizens,” said Mark Godshall, president of Godshall’s Quality Meats. “They brought thoughtful ideas for us to consider and were very creative in structuring the credit facilities to meet our needs. We are excited about the future of our company and our employees, and Citizens is the perfect financial partner to help us continue to achieve our goals.”
“Godshall’s is a great new client for Citizens. Our team was able to work closely with management to structure the right financing solution to meet their needs,” said Daniel K. Fitzpatrick, president, Citizens Bank, Pennsylvania, New Jersey and Delaware. “Supporting ESOP conversions to support succession planning for family-owned businesses is a perfect example of how Citizens can deliver value for clients at every stage of their business life cycle.”
Citizens is positioned as 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 $149.5 billion in assets as of December 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 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.
