10/30/2017
Citizens Bank Leads $57.5 Million in Financing for United Pipe and Steel Corp.
BOSTON – Citizens Bank announced today that Citizens Commercial Banking has led $57.5 million in financing for Ipswich-based United Pipe and Steel Corp., an independent master distributor of steel pipe, copper tubing, plastic pipe, electrical conduit and related products. Citizens is the sole lead arranger.
The funds will be used by United Pipe and Steel Corp. to refinance existing debt.
“We greatly value our longtime partnership with Citizens Bank and appreciate the Citizens team’s excellent ideas and seamless deal execution,” said Greg Leidner, president and chief executive officer of United Pipe and Steel Corp. “We have been Citizens clients since 2004 and we look forward to continuing to work with the team in the future.”
“Our team listened to management and suggested options on how they might refinance the company’s debt to meet their strategic needs and better position the company for future growth,” said Jerry Sargent, president of Citizens Bank, Massachusetts. “Refinancing debt is just one of the ways that Citizens can help clients such as United Pipe and Steel Corp.”
Citizens is a trusted strategic and financial advisor, consistently delivering clear and objective advice. The Citizens Commercial Banking approach puts clients first by offering great ideas combined with thorough market knowledge and excellent execution to help our clients enhance their business and reach their potential.
For more information, please go to 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 $151.4 billion in assets as of September 30, 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. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. 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 rate products and asset finance. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
