CIT Group’s power and energy business served as sole coordinating lead arranger for a $225 million letter of credit facility on behalf of 8minute Solar Energy, a developer of renewable energy projects.
CIT Group is collaborating with Fintainium to provide an integrated payments and financial workflow management solution for small and midsize businesses. The two companies will waive subscription fees for the first three months.
CIT Group’s Power and Energy unit served as sole lead arranger on a $42.8 million in debt financing to support NY Solar Farms, a 70-megawatt community solar portfolio located in Central and Northeastern New York State.
CIT Group served as administrative agent for an $87 million loan to finance construction of a new logistics warehouse and storage facility adjacent to John F. Kennedy International Airport in Queens, NY.
CIT Group’s Real Estate Finance unit provided $36.2 million in financing for the acquisition of Park Center, a 97% leased, multi-tenant office building in Plano, TX.
CIT Group has appointed Mihir J. Shah as director of technology originations in its Technology, Media and Telecommunications business
CIT Group’s Supply Chain Finance unit, part of its Commercial Services division, is expanding its capabilities, including the implementation of a new cloud-based supply chain finance platform.
CIT Group’s Real Estate Finance unit served as lead arranger on $87 million in financing for a portfolio of Storage Rentals of America self-storage facilities.