Citizens Commercial Banking is serving as lead left arranger on a $150 million asset-based revolving credit facility for Steve Madden, a designer and marketer of footwear, accessories and apparel for women, men and children.
“We appreciate the opportunity to work with the Citizens team, whose strong personal commitment has been felt throughout this process,” Edward Rosenfeld, CEO of Steve Madden, said. “Citizens bankers are experienced, trusted advisors and we greatly value the advice and results that the Citizens team delivers.”
“At Citizens, we think about the needs of our clients from their point of view and offer a range of possible options,” Jaime Ward, head of retail finance at Citizens, said. “In this case, we were able to provide a great solution for Steve Madden that offered the company a more flexible capital structure. Providing asset-based lending solutions is just one of the ways that Citizens can deliver substantial value for clients at every stage of their business life cycle.”