06/15/2020
Citizens Commercial Banking leads $150 million credit facility for Save A Lot
PROVIDENCE, R.I. – Citizens Commercial Banking announced today that it is lead left arranger on a $150 million asset-based revolver for St. Ann, Missouri-based Moran Foods, LLC, which owns and operates Save A Lot, one of the country’s largest discount grocery chains.
“We appreciate the opportunity to work with the Citizens team whose personal commitment has been felt throughout this process,” said Kenneth McGrath, Chief Executive Officer of Save A Lot. “Citizens bankers are experienced, trusted advisors who bring great ideas to the table. We greatly value their advice and the results that the Citizens team delivers.”
“At Citizens, we try to think about the needs of our clients from their point of view and offer holistic solutions,” said Jaime Ward, Head of Retail Finance at Citizens. “We were able to provide a great solution for Save A Lot that offered them a more flexible capital structure. 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 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, 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 $176.7 billion in assets as of March 31, 2020. 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 2,800 ATMs and approximately 1,000 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 a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
