CIT Agents The Levy Group $90MM Financing
CIT Group arranged and syndicated a $90 million senior secured credit facility to The Levy Group, a designer, manufacturer, importer and distributor of men’s and women’s apparel.
CIT Group arranged and syndicated a $90 million senior secured credit facility to The Levy Group, a designer, manufacturer, importer and distributor of men’s and women’s apparel.
Bloomberg reported in an interview on Bloomberg Television, that CIT CEO John Thain said the business lender has no plans to become a “serial acquirer” of financial firms.
CIT Bank announced it has completed its acquisition of Direct Capital, a provider of financing to small and mid-sized businesses.
CIT Group announced CIT Aerospace provided a $27 million senior secured credit facility to Virgo Investment Group to finance its acquisition of four Boeing 737-700 aircraft leased to GOL.
CIT Group announced it provided a senior secured credit facility to support Rosser Capital Partners’ investment in PetPeople. Financing was provided by CIT Bank.
CIT Group announced it entered into a definitive agreement and plan of merger with IMB Holdco, the parent company of OneWest Bank, for $3.4 billion in cash and stock.
CIT reported Q2/14 net income of $247 million compared to net income of $184 million for the year-ago quarter. CIT said completion of the student loan portfolio sale generated income of $52 million net of taxes.
At a recent investor conference, CIT chief executive John Thain said CIT is looking to acquire a bank of significant size as the company tries to broaden its funding sources.
CIT Bank announced the launch of its RampUp Family of CDs that are term CDs offering customers the flexibility to raise their interest rates once during the CDs term should rates go up.
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.