CIT Northbridge Serves as Administrative Agent on $75 Million Revolving Credit Facility
Summary
RALEIGH, N.C., Dec. 5, 2023 /PRNewswire/ -- First Citizens Bank today announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management LLC, served as administrative agent on a $75 million revolving credit facility for Stella & Chewys LLC.Headquartered in Oak Creek, Wisconsin, Stella & Chewys provides high quality, premium natural pet food with an emphasis on raw nutrition, palatability, safety and all natural ingredients. "Our company continues to experience growing demand from customers for our premium natural pet food products," said Dean Nolden, Chief Financial Officer of Stella & Chewys. ""Stella & Chewys is well positioned for continued growth and we were pleased to work closely with them to arrange this financing to help advance their business objectives," said Neal Legan, who leads the team that advises CIT Northbridge.CIT Northbridge Credit is a trusted financial partner supporting middle-market companies with a broad range of flexible asset-based debt solutions. Headquartered in Raleigh, N.C., and now celebrating the 125th anniversary of its founding, First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets.