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Citizens Bank Provides $30MM ABL Credit Line to ANI Pharmaceuticals

May 16, 2016, 08:02 AM
Filed Under: Pharmaceuticals

ANI Pharmaceuticals, Inc. announced that it has entered a new three-year senior secured asset-based revolving credit facility for up to $30 million. This facility will be secured by inventory and certain other working capital and related assets of ANI Pharmaceuticals, Inc.

Arthur S. Przybyl, ANI's President and CEO stated, "Establishing a line of credit is an important milestone for ANI and one we view as appropriate given our company's recent growth and future plans.  We are excited to enter this financial partnership with Citizens Bank."

"ANI Pharmaceuticals is a great new client and Citizens is very happy to be able to offer our industry expertise to help them achieve their strategic and financial goals," said Daniel K. Fitzpatrick, Head of National Mid-Corporate and Industry Verticals at Citizens Bank.

ANI Pharmaceuticals, Inc. is an integrated specialty pharmaceutical company developing, manufacturing, and marketing branded and generic prescription pharmaceuticals. The company's targeted areas of product development currently include narcotics, oncolytics (anti-cancers), hormones and steroids, and complex formulations involving extended release and combination products.

Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $140.1 billion in assets as of March 31, 2016.

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