NEW
YORK, June 18, 2024 /PRNewswire/ -- First
Citizens Bank today announced that CIT Northbridge Credit, as
advised by First Citizens Institutional Asset Management, LLC,
provided a $35 million revolving line
of credit to Network Wireless Solutions, a provider of cable
solutions and distributor of hardware infrastructure products.
"This financing supports our business operations as we continue
to execute on our strategic vision," said Bill Elkin, chief operating officer and chief
financial officer at NWS. "In choosing a financing partner,
certainty of close and speed of execution were major deciding
factors and CIT Northbridge Credit delivered on both."
Established in 2012 and headquartered in Greensboro, North Carolina, NWS provides a
wide range of mission-critical telecom solutions to service
providers, integrators, contractors and other organizations in
broadband and wireless markets. The company operates a network of
warehouses across the U.S. and Canada.
"NWS stands out in the rapidly evolving wire and cable
manufacturing industry for their innovative and custom-designed
solutions for their clients," said Neal
Legan, who leads the team that advises CIT Northbridge
Credit. "We're pleased to provide this financing to NWS, a company
that is poised to benefit from future industry advancements."
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., 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. First Citizens Bank, Member FDIC. Discover
more at firstcitizens.com.
MEDIA RELATIONS:
Lexa Tutela
Losey
212-461-5305
Lexa.Tutela@firstcitizens.com
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SOURCE First Citizens Bank
