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Citizens Bank Provides $80MM Credit Facility to Vince

September 12, 2018, 07:13 AM
Filed Under: Apparel

Citizens Bank that Citizens Commercial Banking is providing an $80 million asset-based revolving line of credit to New York-based Vince, a global luxury apparel and accessories brand. Citizens is the sole lead arranger, sole bookrunner and administrative agent.
A new Citizens client, Vince is a leading lifestyle brand offering women’s and men’s luxury apparel that is sold through high-end department stores such as Nordstrom and Neiman Marcus, and directly to consumers through 58 retail locations and its e-Commerce site.
“Citizens bankers are trusted strategic and financial advisors who delivered valuable, clear and objective advice,” said David Stefko, EVP, Chief Financial Officer of Vince. “The industry expertise that Citizens’ Retail Finance Group brought to our transaction made for a seamless and timely execution.”

“At Citizens, we try to think about the needs of our clients from their point of view and offer holistic solutions,” said Patrick Bickers, head of Business Capital at Citizens Bank. “Our Retail Finance Group has deep knowledge of the retail sector. Providing asset-based lending solutions is just one of the ways that Citizens delivers substantial value for our clients at every stage of their business life cycle.”

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