CIT Group Names McAvoy Corporate Treasurer

CIT Group named Sarah L. F. McAvoy to the corporate treasurer position, effective March 19. She succeeds Ken Brause.

CIT Arranges $175MM Facility for QMES

CIT Healthcare Finance provided a $175 million senior secured credit facility to QMES, a distributor of durable medical equipment to patients in seven Mid-Atlantic and Northeastern states.

FDIC, Fed Demand Updates for Citizens, CIT Resolution Plans

The FDIC and Federal Reserve will require updated expectations for the next resolution plans of CIT and Citizens Financial Group.

CIT Arranges $180MM in Financing for HCT Group

The Corporate Banking unit of CIT’s Commercial Finance business arranged for $180 million in financing for HCT Group.

CIT Agents $46.5MM Financing for Cypress Creek Renewables

CIT Group’s Commercial Finance division’s Energy Finance business served as sole lead arranger and administrative agent for $46.5 million in construction-only financing on behalf of Cypress Creek Renewables, a developer and owner of solar energy facilities nationwide.

CIT Expands Sponsor Finance Division with Two Hires

CIT Group appointed Kenneth Caffrey and Michael Cavounis as managing directors of the Sponsor Finance Group.

CIT Names Former Monroe MD Adelson to Commercial Services Team

Marc Adelson joined CIT’s Commercial Services business as managing director and Northeast regional manager. Adelson joined from Monroe Capital where he was a managing director.

Fine to Lead New CIT, Allstate ABL Partnership

CIT appointed Penny Fine as managing director to lead business development for CIT Northbridge Credit, the company’s recently announced joint venture with Allstate. Fine served as EVP and head of National Restructuring at CIT from 2005 to 2008.

CIT Bank Enters Into Strategic Partnership with Allstate

CIT Bank created a strategic partnership with Allstate. The joint venture, CIT Northbridge Credit, will provide revolving and term loan commitments to middle market companies.

CIT Closes $140MM Debt Funding For Sunnova Energy

CIT Group served as administrative agent and sole lead arranger for a $140 million credit facility for residential solar provider Sunnova Energy.