12/08/2021
Citizens Leads $70 Million Asset-Based Senior Credit Facility for Stonegate Capital Holdings
PROVIDENCE, R.I. – Citizens announced today that it served as Sole Lead Arranger for Chicago-based Stonegate Capital Holdings’ $70 million asset-based revolving credit facility to support its acquisition by SG Credit Partners.
Stonegate is a leading provider of asset-based credit facilities, typically ranging from $2 million to $10 million, to companies in both the United States and Canada. The deal establishes SG Credit as a leading lower middle market credit platform delivering a complete range of credit solutions for companies primarily in the consumer sector, including food and beverage, naturals, beauty, ecommerce and fashion.
Proceeds from the deal will be used to refinance existing debt, fund a portion of the purchase price and provide working capital going forward. Following the deal, Stonegate will continue to operate independently as a new division of SG Credit.
Citizens is a trusted strategic and financial partner, consistently delivering clear and objective advice. The Citizens 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 website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $187.0 billion in assets as of September 30, 2021. 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 3,000 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.
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