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Citizens Leads $125 Million Credit Facility for Franchise Group, Inc.
Citizens announced today that it is lead left arranger of a $125 million asset-based loan for Virginia Beach, VA-based Franchise Group, Inc. (Nasdaq: FRG).
Franchise Group is an operator of franchised and franchisable businesses that continually looks to grow its portfolio of brands while utilizing its operating and capital allocation philosophy to generate strong cash flow for its shareholders. This transaction refinances an existing ABL for two of its businesses – American Freight and Buddy’s Home Furnishings.
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IDB Bank Leads $100MM Revolving Credit Facility For Dwight Funding
IDB Bank (IDB), a New York-based private and commercial bank, has closed up to a $100 million asset-based revolving credit facility for Dwight Funding, a New York-based lender to modern brands and platforms. Dwight Funding was one of the first capital providers to focus on high growth, digitally native brands.
IDB was the sole lead arranger and administrative agent for Dwight's facility, signaling the Bank's growing position in the Lender Finance industry.
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