CIT announced a joint venture with funds managed by TPG Special Situations Partners. The JV will have a target size of $500 million and will provide secured financing to companies in a variety of industries throughout the U.S.
In a recent CIT Executive Insights, Mike Lorusso, group head and managing director, CIT Corporate Finance, Energy, says mid-market energy companies looking to grow are finding easier access to lending and finance.
CIT Corporate Finance served as joint lead arranger and syndication agent in a $65 million financing to support Maxim Parnters’ and Falcon Investment Advisors’ acquisition of Laney Directional Drilling.
CIT Corporate Finance acted as sole lead arranger and sole lead administrative agent for a $125 million senior secured credit facility for Independence Contract Drilling.
GE Energy Financial Services, through GE Capital Markets, served as the lead arranger in a $97.4 million facility for Saguaro Power’s cogeneration project in Nevada. CIT Corporate Finance participated in the facility as a lender.
CIT Group announced that CIT Corporate Finance served as joint lead arranger in a $140 million senior secured credit facility for National Dentex.
CIT Corporate Finance said it provided a $35 million senior secured credit facility to Central States Tower II, a portfolio company of Sweetwater Capital and Viridian Investment Partners.
CIT Corporate Finance served as co-lead arranger in a $194.5 million senior secured credit facility to TruckPro to finance its acquisition of CCI Corporation.