First Citizens Bank Arranges Credit Facility Upsize for SG Credit Partners' ABL Verticals

Core Insights - First Citizens Bank announced its role as the lead arranger in upsizing the credit facility for SG Credit Partners, which includes their asset-based lending verticals focused on consumer products and commercial finance [1][2] Group 1: Company Developments - The credit facility increase supports SG Credit's new Commercial Finance division as part of its growth strategy targeting new lending verticals [2] - SG Credit Partners operates a broad credit platform with three verticals: Software + Technology, Consumer Products, and Commercial Finance [2] - First Citizens' Asset-Based Lending team has collaborated with SG Credit for several years, demonstrating strong lender finance capabilities [3] Group 2: Financial Strategy - The Asset-Based Lending business of First Citizens aims to meet clients' working capital needs through innovative structures that reduce funding costs and operational risks [3] - The financing solutions provided by First Citizens help improve earnings by leveraging accounts receivable, inventory, or fixed assets as collateral [3] Group 3: Company Background - First Citizens Bank, headquartered in Raleigh, N.C., offers a wide range of banking services and has over 500 branches across 30 states [4] - The parent company, First Citizens BancShares, Inc., is a top 20 U.S. financial institution with more than $200 billion in assets and is a member of the Fortune 500 [4]