Citizens served as the lead left arranger on a $325 million senior credit facility for Nice-Pak, an Orangeburg, NY-based global producer of wet wipes. The facility will be used to refinance existing debt and enhance liquidity.
Founded in 1957, Nice-Pak’s founder’s invented Wet-Nap, the first disposable wet napkin.
“The Citizens team’s innovative thinking and strong execution are exactly what we are looking for in a strategic and financial partner,” Paul Carousso, CFO of Nice-Pak, said “We look forward to working closely with our Citizens bankers and we trust their advice and commitment to our long-term success.”
“Anthony Selvaggio and team were able to provide an attractive new capital structure that will allow the Nice-Pak team to meet their strategic objectives,” Daniel K. Fitzpatrick, president of the Mid-Atlantic region for Citizens, said. “Providing senior credit facilities is just one of the ways that Citizens can deliver substantial value for clients at every stage of their business life cycle.”