FCNCA - CIT Northbridge Credit Provides Working Capital Financing to Winona Foods
PR Newswire
RALEIGH, N.C. , Dec. 20, 2023 /PRNewswire/ -- First Citizens Bank today announced that CIT Northbridge Credit , as advised by First Citizens Institutional Asset Management LLC, has provided working capital financing via a revolving line of credit to Winona Foods in Green Bay, Wisconsin .
Winona Foods is a fully integrated processor and distributor of cheese and cheese products for food service, industrial ingredients, and retail sectors. Their sophisticated manufacturing capabilities allow Winona Foods to produce a variety of cheese products along with other portion-controlled products such as dips, sauces, and dressings.
"We appreciated CIT Northbridge's agility and expertise in delivering a financial package that supports our efforts to make meaningful strides toward our strategic objectives, especially as we head into a new year," said Luke Kelly , Chief Financial Officer of Winona Foods.
"We were delighted to support Winona Foods with this financing to help grow their business," said Neal Legan , who leads the team that advises CIT Northbridge.
CIT Northbridge Credit is a trusted financial partner supporting middle-market companies with a broad range of flexible asset-based debt solutions. A joint venture advised by First Citizens Institutional Asset Management, it provides revolving and term loan commitments from $15 million to $150 million to companies across various industries and business cycles, and serves primarily as sole lender, agent, club participant or co-lender.
About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh , N . C ., and now celebrating the 125th anniversary of its founding, First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 500 branches and offices in 30 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares , Inc. ( NASDAQ : FCNCA ) is a top 20 U.S. financial institution with more than $200 billion in assets. Discover more at firstcitizens . com .
MEDIA RELATIONS:
Ella Bristow
(212) 461-5322
Ella.Bristow@firstcitizens.com
SOURCE First Citizens Bank
Company Name: | First Citizens BancShares Inc. Class A Common Stock |
Stock Symbol: | FCNCA |
Market: | NASDAQ |
Website: | firstcitizens.com |
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