Daily News: July 12, 2012

CIT Launches Series of Client Case Study Testimonial Videos


CIT Group Inc. launched “CIT: Behind the Deal” (cit.com/behindthedeal), a series of client case study testimonial videos that showcase how the lending, leasing, and advisory expertise of CIT executives has helped their clients achieve success.

The inaugural “CIT: Behind the Deal” video features Ernest Health, an operator of inpatient rehabilitation and long-term acute care hospitals, and a CIT Healthcare client. The video examines how CIT Healthcare arranged and syndicated a $204 million senior secured credit facility to support the refinancing of Ernest Health.

In the video, Ernest Health CEO Darby Brockette commented: “CIT stepped up in such a way that they not only understood what our growth potential was, but they came to our hospitals and walked around, and met the management team of each hospital. They knew our story.”

In describing the financing, Steven Warden, president of CIT Healthcare, added: “We knew that their capital structure was holding back their growth. We thought about what their right financing structure should look like and who the right investors would be to help the company expand. When we took the company to market, we managed a successful $204 million financing, which accommodated the company’s development and diversified its investor base.”

Brockette concluded: “It ultimately comes down to two people that run organizations that understand they have a deal and a responsibility to each other, and Steve said we won’t let you down. The deal was oversubscribed. His team received more interest in investing in Ernest Health than we needed at the time.”

“CIT: Behind the Deal” is the latest thought leadership initiative developed by CIT to highlight CIT executives’ deep industry expertise and strong relationships. Individuals can also view and listen to exclusive interviews with CIT executives from CIT’s award-winning CIT Executive Insights Video and Podcast Series at cit.com/executiveinsights.