08/12/2019
Citizens Commercial Banking leads $495 million credit arrangement for Justrite Safety Group
Facilities will be used to refinance debt and for general corporate purposes
CHICAGO – Citizens Commercial Banking announced today that it led a $495 million senior secured credit arrangement for Des Plaines, IL - based Justrite Safety Group.
Founded in 1906, Justrite Safety Group is a global industry leader providing best-in-class industrial safety solutions through a consultative sales model to help customers understand, anticipate and systematically address workplace safety and compliance.
The new $495 million credit package refinances a unitranche facility and positions the company with a capital structure and diversified bank group that will enhance its growth potential.
Citizens Commercial Banking was Lead Left Arranger, Bookrunner, and Administrative Agent.
“We are a new Citizens Commercial Banking client, but we have been impressed by the Citizens team’s value-added ideas and efficient execution,” said Doug Waugaman, Chief Financial Officer of Justrite Safety Group. “We look forward to working closely with our partners at Citizens in the years ahead.”
“The Justrite execution further demonstrates the power of Citizens’ Capital Markets and Corporate Finance capabilities and the elevated league table ranking we have earned as a result. We pair this execution excellence with unmatched in-market relationship coverage to seamlessly serve our clients – with major financing arrangements and event-driven execution needs as well as all the operating and risk management treasury solutions in between,” said Joseph C. Giampetroni, Midwest Regional Executive for Citizens Commercial Banking. “Our Chicago-based coverage team looks forward to serving and supporting the Justrite team in the years ahead.”
Citizens is a trusted strategic and financial partner, 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, go to Citizens Commercial Banking.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $162.7 billion in assets as of June 30, 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.
