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Citizens Bank Leads $75MM Credit Facility for Lydia Security Monitoring

January 26, 2016, 07:04 AM
Filed Under: Security Systems

Citizens Bank announced it is leading a new $75 million senior secured credit facility for Williamstown, N.J.-based Lydia Security Monitoring, Inc.

Founded in 1978, Lydia is the parent company to COPS Monitoring, the largest independently owned provider of nationwide wholesale alarm monitoring and dealer services. The new line of credit will be used for general corporate purposes. Citizens served as lead left arranger and administrative agent for the transaction.

“We have been a client of Citizens Commercial Banking for over 18 years and we appreciate the partnership,” said Robert A. Martino, Chief Financial Officer of COPS Monitoring. “Citizens recognized our potential early on and has been there every step of the way supporting and facilitating our growth. With their help, we have grown from a small facility to the largest company of our type in the United States. The Citizens team brings great ideas and seamless execution to every transaction.”

 “Lydia Security Monitoring has been a great client and we’re happy to be able to offer our expertise in security alarm industry financing along with our capital markets capabilities to help them achieve their strategic and financial goals,” said Greg Buscone, senior vice president and Market Manager of Specialized Banking at Citizens Commercial Banking.

Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $135.4 billion in assets as of September 30, 2015. 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.

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