Citizens Commercial Banking led a new $300 million revolving credit facility for Nations Fund I, a wholly owned subsidiary of Nations Equipment Finance.
Citizens was the lead left bank and joint lead arranger on the transaction, which will provide working capital for Nations, a commercial finance company that provides equipment-based loans and leases to middle market companies. Santander Bank was joint lead arranger and syndication agent.
“Citizens Bank has proven to be a great financial and strategic partner,” said Phil Carlson, CEO of Nations Equipment Finance. “The entire Citizens team brought great ideas to the table and executed the transaction seamlessly.”
“Nations Equipment Finance is a great client and we’re very happy to be able to help them achieve their strategic and financial goals,” said Chris Carmosino, president of Business Capital at Citizens Bank. “Citizens works very hard to be our clients’ lead bank by providing great products and services that deliver value for them at every stage of their business life cycle.”