CIT Group announced that it served as joint lead arranger in a $92 million senior secured credit facility to support Wellspring Capital Management’s strategic investment in Great Lakes Caring.
CIT Group announced that CIT Maritime Finance, with the assistance of RS Platou Finans, completed a $49 million financing through a bareboat charter arrangement with Grieg Shipping II AS.
CIT Group announced that CIT Real Estate Finance provided a $36 million senior secured loan to Kushner Companies. Financing was provided by CIT Bank.
CIT reported Q1/14 net income of $109 million compared to net income of $163 million for Q1/13. CIT said Q1 results were impacted by lower levels of interest income, operating lease expenses and an increase in provision charges.
CIT Group announced CIT Maritime Finance provided a $95.2 million facility to Heron Ventures. CIT financing was provided by CIT Bank.
CIT Group appointed Todd Friant managing director of CIT Corporate Finance, Energy. Friant, formerly of American Capital, will lead origination efforts for senior lending opportunities.
CIT Group announced that CIT Maritime Finance provided a $55 million senior secured credit facility to Tanker Solutions. The facility supports the purchase of a fleet of four modern LR1 product tankers.
CIT Corporate Finance, Healthcare served as the sole lead arranger in a $50 million senior secured credit facility for QMES, a distributor of durable medical equipment to patients in nine states.
CIT Group announced it served as joint lead arranger in a $450 million facility for YRC Worldwide. The facility will be used to partially refinance YRC Worldwide’s capital structure.
According to a report commissioned by CIT Group, Los Angeles’ fashion industry has largely been unappreciated as a driving force for the city’s economy.