09/10/2018
Citizens Bank provides $80 million credit facility to Vince
NEW YORK – Citizens Bank announced today that Citizens Commercial Banking is providing an $80 million asset-based revolving line of credit to New York-based Vince (NYSE: VNCE), a global luxury apparel and accessories brand. Citizens is the sole lead arranger, sole bookrunner and administrative agent.
A new Citizens client, Vince is a leading lifestyle brand offering women’s and men’s luxury apparel that is sold through high-end department stores such as Nordstrom and Neiman Marcus, and directly to consumers through 58 retail locations and its e-Commerce site.
“Citizens bankers are trusted strategic and financial advisors who delivered valuable, clear and objective advice,” said David Stefko, EVP, Chief Financial Officer of Vince. “The industry expertise that Citizens’ Retail Finance Group brought to our transaction made for a seamless and timely execution.”
“At Citizens, we try to think about the needs of our clients from their point of view and offer holistic solutions,” said Patrick Bickers, head of Business Capital at Citizens Bank. “Our Retail Finance Group has deep knowledge of the retail sector. Providing asset-based lending solutions is just one of the ways that Citizens delivers substantial value for our clients at every stage of their business life cycle.”
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 $155.4 billion in assets as of June 30, 2018. 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 3,300 ATMs and approximately 1,150 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.
