CIT Northbridge Credit, the JV financing unit of CIT Group, served as sole lead arranger on a $20 million senior secured revolving and term loan credit facility for Greene’s Energy Group.
Houston-based Greene’s Energy is a diversified oilfield services company providing integrated pre and post-production well services to customers in the drilling, completion and pipeline businesses.
“CIT Northbridge is pleased to be able to provide a more economical and flexible senior debt solution to support the growing needs of the Greene’s Energy business,” said Neal Legan, who leads CIT Northbridge.
“The experience and insights of the CIT Northbridge team were greatly appreciated as we worked through the successful execution of this credit facility, which is an important component of our business strategy,” said Frank Mathews, president, of Greene’s Energy.
CIT Northbridge Credit is a joint venture advised by CIT’s Asset Management unit. It provides revolving and term loan commitments from $15 million to $150 million.
