First Citizens BancShares, the parent company of First-Citizens Bank & Trust Company, and CIT Group, the parent company of CIT Bank, will combine in an all-stock merger of equals to create the 19th largest bank in the United States based on assets.
CIT Group’s healthcare finance group provided a $20 million senior secured credit facility for Protech Home Medical, a home medical equipment industry focused on end-to-end respiratory care.
FirstSun Capital Bancorp, through its subsidiary Sunflower Bank, acquired CIT’s trust and wealth advisory business, effective Sept. 1.
CIT’s healthcare finance unit provided a $25 million loan supporting Seavest Healthcare Properties’ acquisition of the MLK Community Hospital Medical Office Building in Los Angeles.
CIT Northbridge Credit, as advised by CIT Asset Management, served as sole lead arranger on a $40 million senior secured credit facility for Europa Sports Products.
CIT Group named Chris Esposito managing director in charge of its newly expanded asset-based lending business. Esposito will be responsible for managing the asset-based lending team and overseeing the national ABL business.
CIT Northbridge Credit served as sole lead arranger on a $50 million senior secured revolving credit facility for CITIES Market Studios.
CIT Group’s power and energy unit served as sole lead arranger on an $85 million financing for the 80-megawatt Pioneer Solar project near Denver.
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.