07/08/2019
Citizens Bank leads $1 billion credit facility for Hexcel Corporation
High-performance materials maker closes new senior unsecured credit facility to expand liquidity, lower pricing, and extend maturity
PROVIDENCE, RI – Citizens Commercial Banking is leading a $1 billion senior credit facility for Stamford, CT-based Hexcel Corporation.
Founded in 1948, Hexcel is a leading advanced composites company specializing in the development, manufacturing, and marketing of lightweight, high-performance materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives, and composite structures for use in commercial aerospace, space and defense, and industrial applications.
Hexcel’s products are used in a wide variety of applications such as the manufacturing of commercial and military aircraft, space launch vehicles and satellites, wind turbine blades, automotive structures and a wide variety of other industrial applications.
Citizens acted as Lead Left Arranger, Lead Bookrunner and Administrative Agent in the 12-bank group.
“We have been Citizens clients since 2010, and we always appreciate the value-added ideas and excellent work that the Citizens team provides,” said Patrick Winterlich, CFO of Hexcel.
“Hexcel is a great client, and we’re happy to offer our industry expertise within Aerospace and Defense as well as our capital markets capabilities to help them achieve their strategic and financial goals,” said Jerry Sargent, Northeast Regional Executive for Citizens Commercial Banking. “At Citizens, our goal is to deliver long-term value for clients by serving as their partner, offering expertise and tailored solutions so they are ready for what’s next throughout the life cycle of their business.”
Citizens is a trusted strategic and financial adviser, 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 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 $161.3 billion in assets as of March 31, 2019. 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 2,900 ATMs and approximately 1,100 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.
