TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
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The Importance of Stretching
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SFNet's 40 Under 40 Award Winners Panel Recap
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SFNet's Inaugural YoPro Leadership Summit
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It’s a Marathon, Not a Sprint
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It’s Not Too Late – Five Member Benefits to Cash In On Now
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It’s Time To Break Up With Your Phone
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Lien Management – What You Need to Know
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Potential Impacts of Blockchain on Commercial Lending
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How to be a Good Leader
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
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A Commercial Banker’s Tickler Transition Plan
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
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Why Back-Office Lending Automation Enhances Customer Satisfaction
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The Lost Art of the Loan Purchase
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Audit Prep: Why a Paperless Approach Makes Sense
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Back Office Support Services: Helping you approve more clients
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
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Paper Loan Files: Does Your Bank Know the True Cost?
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August 24, 2021
Source: Citizens Financial Group
Citizens announced today that it served as Sole Lead Arranger for Brockton, Mass.-based W.B. Mason’s new $325 million senior secured credit facilities.
Founded in 1898, W.B. Mason is one of the largest privately held business-to-business office products dealers in the United States and has been a Citizens client for more than 35 years.
The new senior secured credit facilities include a $275 asset based revolving credit facility and a $50 million First In, Last Out (“FILO”) Facility, which was well received in the market, reflecting the company’s strong operational and financial performance during the COVID-19 pandemic. The funds will be used to repay existing debt and support future growth.
“Citizens has been a longtime strategic and financial partner,” said W.B. Mason Chief Executive Officer and Owner Leo Meehan. “We value the solutions that our trusted advisors at Citizens bring to the table and their dedication to our success.”
“We were able to provide an attractive new capital structure that allowed the W.B. Mason team to meet their strategic objectives,” said Jerry Sargent, Northeast Regional Executive, Citizens. “Providing asset-based lending facilities is just one of the ways that Citizens delivers value for 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 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.
For more information, please go to the Citizens website.
Founded in 1898, W.B. Mason is one of the largest privately held business-to-business office products dealers in the United States and has been a Citizens client for more than 35 years.
The new senior secured credit facilities include a $275 asset based revolving credit facility and a $50 million First In, Last Out (“FILO”) Facility, which was well received in the market, reflecting the company’s strong operational and financial performance during the COVID-19 pandemic. The funds will be used to repay existing debt and support future growth.
“Citizens has been a longtime strategic and financial partner,” said W.B. Mason Chief Executive Officer and Owner Leo Meehan. “We value the solutions that our trusted advisors at Citizens bring to the table and their dedication to our success.”
“We were able to provide an attractive new capital structure that allowed the W.B. Mason team to meet their strategic objectives,” said Jerry Sargent, Northeast Regional Executive, Citizens. “Providing asset-based lending facilities is just one of the ways that Citizens delivers value for 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 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.
For more information, please go to the Citizens website.
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