Daily News: October 17, 2017

Citizens Commercial Arranges $24.5MM Facility for Nixon

Citizens Commercial Banking is providing a $24.5 million credit facility to Nixon, a global designer, marketer and distributor of watches, clothing and accessories. Citizens is the sole lead arranger.

Encinitas, CA-based Nixon will use the new credit facility for working capital and general corporate purposes.

Founded in 1998 with a small line of custom-built watches that were sold exclusively in specialty board sport and fashion retailers, Nixon now distributes its products in more than 80 countries through third-party dealers and retailers, as well as its own retail stores and e-commerce platform.

“Citizens bankers are trusted strategic and financial advisers who delivered clear and objective advice that has helped us enhance our business,” said Jennifer MacLellan, chief financial officer of Nixon.