First Citizens BancShares Inc - FCNCA STOCK NEWS

First Citizens Bank (FCNCA) served as joint lead arranger and joint bookrunner on financing for The Halifax Group's acquisition of the Worldwide Home Care division of Sodexo, a global home care services platform. The financing will fund the acquisition and provide additional liquidity for general corporate purposes. The division manages a portfolio of 10 premium brands across eight countries, operating through over 700 locations and serving approximately 17,000 clients worldwide.

First Citizens Bank (FCNCA) provided $10 million in financing to FitLife Brands Inc. for the strategic acquisition of MusclePharm, enabling FitLife to enhance profitability through online sales and expanded distribution.

First Citizens Bank (FCB) announced that CIT Northbridge Credit, advised by First Citizens Institutional Asset Management LLC, provided a $75 million revolving credit facility for Stella & Chewy's LLC (SC). Stella & Chewy's offers premium natural pet food, including freeze dried dinner patties, meal mixers, frozen patties and morsels, baked and extruded kibble, stews, broths, and treats. The financing will support working capital needs and other corporate purposes. SC's CFO, Dean Nolden, expressed gratitude for the financing, citing growing customer demand. Neal Legan, leading the CIT Northbridge team, highlighted SC's potential for growth.

First Citizens Bank (FCNCA) served as co-collateral agent on $75 million in financing for Turning Point Brands Inc. (TPB), a branded consumer products company based in Louisville, Kentucky. TPB manufactures, markets, and distributes branded consumer products including alternative smoking accessories and consumables through its Zig-Zag and Stoker's brands, available in over 215,000 retail outlets in North America. The off-balance sheet revolving line of credit is backed by inventory and accounts receivable, with inventory as the primary collateral.

First Citizens Bank (FCNCA) completes $99.3 million in transactions with Kayne Anderson Real Estate and Remedy Medical Properties, financing a surgical hospital acquisition and medical office building refinancing. The properties are fully leased, providing essential healthcare services in Texas and Mississippi.

First Citizens Bank (FCB) provided a credit facility to The Stepping Stones Group to address their seasonal working capital needs during the school year. The Stepping Stones Group, a Leonard Green and Partners portfolio company, offers therapeutic, behavioral, and autism services to children with developmental delays in various settings. FCB's Asset-Based Lending team supported this financing, emphasizing their commitment to building strong relationships and providing creative solutions to support unique client needs.

First Citizens Bank (FCB) and MUFG co-lead a $250 million financing for Middle River Power's 327MW, 1hr duration battery storage projects in California. The financing includes a construction loan, tax equity bridge loan, and project LC facilities. The portfolio of battery storage projects will be paired with existing gas-fired peaking generation, creating first-of-its-kind hybrid facilities providing low-emissions electricity and long-term reliability to Kings County and Fresno County, California. Co-locating the natural gas peaking facilities with battery storage results in significant reductions in greenhouse gas emissions while maintaining reliable, flexible reserve capacity. The battery facilities will store excess solar power during the day and release it during evening peak hours. FCB's Energy Finance unit is pleased to support financing for this innovative project, which adds battery storage to existing gas generation.

First Citizens Bank (FCB) Provides $17.5M Financing for Norvin Healthcare Properties' Acquisition of PAM Health Warm Springs Rehabilitation Hospital in San Antonio, Texas

First Citizens Bank: Leads $170 Million Credit Facility for esVolta's esFaraday Portfolio of Utility-Scale Battery Energy Storage Projects in California. Refinancing Upsizes Facility from 2020, Arranged by CIT Before Merger with First Citizens in 2022