Citizens Financial Group has provided a new $125 million asset-based revolving credit facility to Canton-based Destination XL Group, an omni-channel specialty retailer of big and tall men’s apparel.

Providence-based Citizens said in a statement that it was the sole lead arranger, bookrunner and administrative agent on the transaction.

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

Jaime Ward, Citizens’ head of retail finance, said in the statement that providing asset-based revolvers is one way that the bank delivers value for clients at every stage of their business life cycle.

“Our team was able to provide an attractive new capital structure that will allow the Destination XL Group to meet their strategic objectives,” Ward said.

The $187 billion-asset Citizens provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions.

Citizens Provides Canton Company with $125M Revolving Credit

by Banker & Tradesman time to read: 1 min
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