City Electric Group Limited Closes $1.25 Billion Senior Secured Global Asset-Based Revolving Credit Facility Led by Wells Fargo

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[{"type":"text","content":"Strategic global financing further strengthens City Electric Group’s financial foundation, providing liquidity and flexibility to support customers across its 1,200+ locations.","length":176,"tagName":"p"},{"type":"text","content":"DALLAS, Texas, Feb. 17, 2026 (GLOBE NEWSWIRE) -- City Electric Group Limited (CEG), a leading electrical products wholesaler serving commercial, industrial, and residential customers, today announced the successful closing of a $1.25 billion senior secured global asset-based lending (ABL) revolving credit facility. Wells Fargo acted as agent on the facility. PNC and JPMorgan were named joint lead arrangers, with Truist and HSBC serving as co-documentation agents.","length":467,"tagName":"p","attribs":{}},{"type":"text","content":"“The participation and support of these global financial institutions underscore the strength of our banking relationships and the quality of CEG’s business model, operational discipline, leadership, and long-term outlook,” said Phil Flaherty, global chief financial officer. “This closing expands our liquidity and flexibility to support product availability and service levels for our customers worldwide, and continued investment in our branch network.”","length":456,"tagName":"p","attribs":{}},{"type":"text","content":"Kurt Marsden, head of Wells Fargo Capital Finance, shared, “Wells Fargo is pleased to continue to support City Electric Group and play a role in optimizing CEG's capital structure across multiple global jurisdictions.”","length":222,"tagName":"p","attribs":{}},{"type":"text","content":"A global facility built for a global operating footprint","length":56,"tagName":"p","attribs":{}},{"type":"text","content":"CEG serves customers through a network of more than 1,200 branches, including more than 750 across North America, nearly 400 in the United Kingdom, and approximately 60 branches across Europe and Australia.","length":206,"tagName":"p","attribs":{}},{"type":"text","content":"The facility, which has a five-year maturity from closing, provides a coordinated financing platform across eligible jurisdictions including the United States, Canada, the United Kingdom (including Jersey), Ireland, the Netherlands, Spain, and Australia.","length":254,"tagName":"p","attribs":{}},{"type":"text","content":"Historically, CEG utilized separate financings across its major ...

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