The power and energy business of CIT, a division of First Citizens Bank, served as lead arranger on $419 million in financing for the acquisition of the Broad River power generation facility in Gaffney, SC.
First Citizens Bank named James Ligman managing director in its middle market banking business to lead expansion efforts in the Orange County and Inland Empire regions of California.
First Citizens Bank expanded its middle market banking unit to support the financial needs and goals of midsize businesses across Southern California and the Southwest.
CIT Commercial Services, a subsidiary of First Citizens Bank, completed a $50 million factoring facility with a West Coast consumer technology firm.
CIT Commercial Services, a subsidiary of First Citizens Bank, increased a New York-based fashion company’s discretionary lending facility to $100 million to support the acquisition of an entity that specializes in children’s apparel.
First Citizens Bank completed its conversion from OneWest Bank to First Citizens’ operations and systems division. This conversion integrates OneWest Bank customer accounts into First Citizens products and services.
The middle-market banking business of First Citizens Bank provided a $60 million loan to Bahakel Communications to refinance existing debt and help finance future growth opportunities.
First Citizens Bank’s middle-market banking business provided up to $50 million as a senior secured line of credit to an affiliate of Morningstar Properties, an investor in and operator of self-storage facilities.
First Citizens Bank hired Linda Stanley as a relationship manager for its middle-market banking business. In this role, Stanley will be responsible for developing, maintaining and expanding client and prospect relationships in the middle-market financing sector.