11/14/2017
Citizens Bank Leads $210 Million in Financing to Palo Alto, Inc.
Denver-based restaurant group recapitalizes credit facility, eyes future growth
DENVER – Citizens Bank announced today that Citizens Commercial Banking has provided $210 million in financing to Denver-based Palo Alto, Inc., one of the largest franchisees in the country for Taco Bell, KFC and Pizza Hut. Citizens is the Left Lead arranger of a five-bank group.
“We greatly value our partnership with Citizens Bank and appreciate the Citizens Restaurant Finance team’s excellent ideas and seamless deal execution,” said Rob Alvarado, chief executive officer of Palo Alto, Inc. “We have been Citizens clients since 2012 and we look forward to continuing to work with the team in the future.”
“Acquisition and growth financing are just some of the ways that the Citizens Restaurant Finance team is helping clients such as Palo Alto, Inc.,” said Armando Pedroza, head of Restaurant Finance for Citizens Bank. “This relationship highlights Citizens’ strength as a restaurant finance partner and our strong commitment to helping clients reach their potential."
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.
