Citizens Leads $125 Million Asset-Based Revolving Credit Facility for Destination XL Group

PROVIDENCE, R.I. – Citizens announced today that it has led a new $125 million asset-based revolving credit facility for Destination XL Group, an omni-channel specialty retailer of big and tall men's apparel. Citizens is sole lead arranger, sole bookrunner and administrative agent.

“Our Citizens bankers are excellent strategic and financial partners who worked closely with us throughout the pandemic,” said Harvey Kanter, CEO of Destination XL Group. “We look forward to continuing to work closely with our Citizens team and we value their advice and commitment to our long-term success.”

“Our team was able to provide an attractive new capital structure that will allow the Destination XL Group to meet their strategic objectives,” said Jaime Ward, head of retail finance, Citizens. “Providing asset-based revolvers is just one of the ways that Citizens can deliver substantial 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.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $187.0 billion in assets as of September 30, 2021. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,000 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.