09/07/2022
Citizens Leads $100 Million Asset-Based Credit Facility for Twin Rivers Paper Co.
PROVIDENCE, R.I. – Citizens announced today that it has provided a $100 million asset-based lending credit facility to Madawaska, Maine-based Twin Rivers Paper Company. Citizens is Lead Arranger and Administrative Agent.
Twin Rivers is an integrated paper company that produces packaging, label, kraft, publishing, and technical specialty papers as well as dimensional lumber. The funds will be used to refinance existing debt and for working capital.
“Citizens bankers are trusted partners who listened to us and brought great ideas and insights aligned with our strategic vision,” said Twin Rivers’ Chief Financial Officer Tyler Rajeski. “The Citizens team has deep knowledge of our industry and their close attention to detail made for a seamless execution.”
“We were able to provide a new credit facility that gives Twin Rivers management the financial flexibility to continue investing in its platform, reduces its cost of capital, and enables the execution of its sophisticated foreign exchange hedging program in partnership with our Global Markets team,” said Jerry Sargent, Northeast Market Executive, Citizens. “Providing credit facilities and foreign exchange stability are just some of the ways that Citizens can deliver substantial value for 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 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 $226.7 billion in assets as of June 30, 2022. 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 full-service customer contact center and the convenience of approximately 3,300 ATMs and more than 1,200 branches in 14 states and the District of Columbia. 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.
