Daily News: September 14, 2017

Citizens Bank Agents FGI Worldwide Refi

FGI Worldwide has refinanced and expanded its credit facility agented by Citizens Bank. The facility includes local credit lines in the UK and Canada.

“This new capital structure will be used to expand our suite of services to include domestic and international asset-based lending,” said Sami Altaher, executive director of FGI Worldwide. “It will also provide the company with the ability to finance additional asset classes.”

FGI has also completed a recapitalization, which includes the infusion of $140 million in new capital, including new equity investors and an expanded board of directors.

“This recapitalization positions our company to continue to expand our business offerings. Our new company name, FGI Worldwide LLC, is a reflection of our commitment to implement our global growth strategy,” stated David DiPiero, president and CEO of FGI Worldwide.

FGI Worldwide’s two principal business units, FGI Finance and FGI Risk, provide clients with flexible and customized lending, as well as risk mitigation solutions designed to support international and domestic growth.