Citizens Financial : Leads $325 Million Senior Secured Credit Facilities for W.B. Mason

08/24/2021

PROVIDENCE, R.I. - 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 wereable 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 theCitizenswebsite.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $185.1 billion in assets as of June 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.comor visit us on Twitter, LinkedInor Facebook.