Citizens led a $125 million asset-based revolving credit facility for Destination XL Group, an omnichannel specialty retailer of big and tall men’s apparel. Citizens is the sole lead arranger, sole bookrunner and administrative agent for the facility.
“Our Citizens bankers are excellent strategic and financial partners who worked closely with us throughout the pandemic,” Harvey Kanter, CEO of Destination XL Group, said. “We look forward to continuing to work closely with our Citizens team and we value their advice and commitment to our long-term success.”
“Our team was able to provide an attractive new capital structure that will allow the Destination XL Group to meet their strategic objectives,” Jaime Ward, head of retail finance at Citizens, said. “Providing asset-based revolvers is just one of the ways that Citizens can deliver substantial value for clients at every stage of their business life cycle.”
