SageSure secured $125 million in bank financing. The syndicated facility is led by Citizens is leading the syndicated facility with ING Group, BMO Harris and East West Bank serving as joint lead arrangers.
Citizens served as sole lead arranger for $325 million in senior secured credit facilities for Massachusetts-based W.B. Mason. The new senior secured credit facilities include a $275 asset-based revolving credit facility and a $50 million first in, last out facility.
Saks OFF 5TH closed on a syndicated, five-year $125 million asset-based revolving credit facility jointly arranged by Citibank and Citizens and a $20 million term loan arranged by Callodine Commercial Finance.
NextEdge completed the acquisitions of SBS Services Holdings, Tachyon and Spectrum Services. KeyBank Capital Markets served as lead left arranger and administrative agent and Citizens served as lead right arranger on a credit facility to support the transactions.
Citizens served as lead left arranger for a $350 million senior credit facility for Stoughton, MA-based Liquid Tech Solutions, which will use the new credit facility to repay existing debt and to support future growth.
Continued economic recovery from the shock of the COVID-19 pandemic kept the Q1/21 national Citizens Business Conditions Index (CBCI) in upbeat territory with a reading of 53.3. This compares with a Q4/20 reading of 56. A reading above 50 is considered expansionary.
Citizens served as lead left arranger for a $300 million senior credit facility for Houston-based Moda Midstream. A total of seven financial institutions participated in the facility.
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.
An improved public health environment and the possibility of higher capital gains taxes will likely drive increased merger and acquisition activity in 2021, according to a Citizens survey of 700 leaders at U.S. middle market companies and private equity firms.
Citizens provided a new $30 million asset-based revolving line of credit to Ross-Simons, a jewelry provider based in Cranston, RI. Citizens is the administrative agent, sole lead arranger and sole bookrunner for the facility.