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Citizens Bank Leads $210MM Recap Financing for Denver-Based Fast Food Franchisee

November 16, 2017, 07:09 AM
Filed Under: Restaurant

Citizens Bank announced that Citizens Commercial Banking has provided $210 million in financing to Denver-based Palo Alto, Inc., one of the largest franchisees in the country for Taco Bell, KFC and Pizza Hut. Citizens is the Left Lead arranger of a five-bank group.

“We greatly value our partnership with Citizens Bank and appreciate the Citizens Restaurant Finance team’s excellent ideas and seamless deal execution,” said Rob Alvarado, chief executive officer of Palo Alto, Inc. “We have been Citizens clients since 2012 and we look forward to continuing to work with the team in the future.”

“Acquisition and growth financing are just some of the ways that the Citizens Restaurant Finance team is helping clients such as Palo Alto, Inc.,” said Armando Pedroza, head of Restaurant Finance for Citizens Bank. “This relationship highlights Citizens’ strength as a restaurant finance partner and our strong commitment to helping clients reach their potential.”

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