Daily News: February 1, 2018

Citizens Arranges $32MM ABL Facility For 2nd Ave

Citizens Commercial Banking arranged $32 million in credit facilities for Bensalem, PA-based thrift retailer 2nd Ave. Citizens acted as lead arranger and sole senior lender for the financing.

The new credit facilities will be used by 2nd Ave to recapitalize its business.

“Citizens brought a total solution to the table for us and executed it,” said Tony Peressini, CEO of 2nd Ave. “We couldn’t be more excited about our partnership with Citizens Bank as we continue to grow our business.”