Citizens Bank Leads $150M Credit Facility For Save A Lot

Citizens Commercial Banking announced today that it is lead left arranger on a $150 million asset-based revolver for St. Ann, Missouri-based Moran Foods, LLC, which owns and operates Save A Lot, one of the country's largest discount grocery chains.

"We appreciate the opportunity to work with the Citizens team whose personal commitment has been felt throughout this process," said Kenneth McGrath, Chief Executive Officer of Save A Lot. "Citizens bankers are experienced, trusted advisors who bring great ideas to the table. We greatly value their advice and the results that the Citizens team delivers."

"At Citizens, we try to think about the needs of our clients from their point of view and offer holistic solutions," said Jaime Ward, Head of Retail Finance at Citizens. "We were able to provide a great solution for Save A Lot that offered them a more flexible capital structure. Providing asset-based lending solutions is just one of the ways that Citizens delivers substantial value for our clients at every stage of their business life cycle."

Citizens is a trusted strategic and financial partner, consistently delivering clear and objective advice. The Citizens Commercial Banking approach puts clients first by offering great ideas combined with thorough market knowledge and excellent execution to help our clients enhance their business and reach their potential.