Daily News: August 19, 2014

CIT Agents The Levy Group $90MM Financing

CIT Group announced that it arranged and syndicated a $90 million senior secured credit facility to The Levy Group. CIT Commercial Services served as sole lead arranger, bookrunner, syndication agent, administrative agent, collateral agent, documentation agent and a lender in the facility.

“We are proud to support The Levy Group through this financing, which will help the company continue to grow and diversify its business,” said Jon Lucas, president of CIT Commercial Services. “We have a strong relationship and have worked closely with The Levy Group for the past 20 years. This transaction is representative of our knowledge and expertise in the retail and apparel sectors and our unmatched client service in the industry.”

Marc Heller, Northeast regional manager and international manager, CIT Commercial Services, added, “The Levy Group is a family owned business that has been operating for more than 65 years and is a leader in its field. We are pleased we could put a financing solution in place that helps them continue to grow their business, and we look forward to assisting the company achieve its short- and long-term goals.”

The Levy Group is a designer, manufacturer, importer and distributor of men’s and women’s outerwear, dresses, suits and active sportswear to major retailers throughout the United States and abroad.