CIT Northbridge Credit, as advised by CIT Asset Management, served as sole lead arranger on a $50 million credit facility for Intermetal Rebar.
Headquartered in Miami, Intermetal Rebar is an importer and distributor of reinforcing bar and other structural products to distributors, fabricators and contractors in the non-residential construction industry.
“We are seeing increased demand for our products as the economy continues its post-pandemic rebound,” Joseph Tedesco, CFO of Intermetal Rebar, said. “We appreciated the expertise of the CIT Northbridge team in arranging the financing to support our operations and empower us to serve our customers.”
“Intermetal Rebar is well positioned in its industry to gain from the ongoing economic growth,” Neal Legan, executive officer at CIT Northbridge Credit, said. “We worked closely with the company’s leadership to understand their needs and develop a financing package that advances their business strategy.”
