First Citizens Bank Arranges $145 Million in Financing for Linea Energy | FCNCA Stock News
Summary
It is a portfolio company of EnCap Investments L.P.The financing, which includes a revolving credit facility, a letter of credit and a term loan, will support the development and growth of Lineas diversified project pipeline, which focuses on expanding the use of clean energy sources and promoting environmental sustainability nationwide. ""First Citizens is pleased to partner with Linea in this innovative credit facility, which combines features of both corporate and project finance to support Lineas high-quality, diversified project portfolio," said Mike Lorusso, who leads First Citizens Banks Energy Finance business. "Our collaboration with Linea demonstrates First Citizens commitment to provide tailored financing solutions to leading renewable energy developers. Headquartered in , 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 in assets and a member of the Fortune 500.