CIT Northbridge Agents $100MM Revolver for Hornbeck

Hornbeck Offshore Services entered into a new $100 million senior secured asset-based revolving credit facility.

Kaplan Joins CIT Northbridge to Lead Northeast Business Development

Elijah Kaplan joined CIT Northbridge Credit to lead its business development efforts across the Northeast.

CIT Northbridge Arranges $24MM Facility for Pocono ProFoods

CIT Northbridge Credit, through its investment advisor CIT Asset Management, served as sole lead arranger on a $24 million senior secured credit facility for Pocono ProFoods, a foodservice distributor in the Northeast and Middle Atlantic regions.

CIT Arranges $53.8MM Facility for Circle 8 Crane Services

CIT Northbridge Credit, the joint venture financing unit of CIT Group, served as sole lead arranger on a $53.8 million senior secured credit facility for Circle 8 Crane Services.

CIT Northbridge Arranges $17MM Walker Zanger Facility

CIT Northbridge Credit served as sole lead arranger on a $17 million senior secured revolving and term loan credit facility for Walker Zanger.

CIT Arranges $30MM Facility for Alliance Time

CIT Group’s Northbridge Credit joint venture served as sole lead arranger on a $30 million revolving credit facility for Alliance Time Holdings.

CIT Northbridge Arranges $20MM Facility for Arkos

CIT Northbridge Credit served as sole lead arranger on a three-year, $20 million senior secured revolving and term loan credit facility for Arkos Field Services, a Houston-based provider of aftermarket services to the energy industry.

Innovative Financing: From Mellon & Sons to Alternative Lenders’ Impact on ABL Today

In the face of continuing bank regulation, alternative lending companies are launching to fill in the gaps. ABF Journal contributor Hugh Larratt-Smith examines the types of loans these lenders are providing and shows how ABL lenders can benefit by teaming up with these new players.

Fine to Lead New CIT, Allstate ABL Partnership

CIT appointed Penny Fine as managing director to lead business development for CIT Northbridge Credit, the company’s recently announced joint venture with Allstate. Fine served as EVP and head of National Restructuring at CIT from 2005 to 2008.

CIT Bank Enters Into Strategic Partnership with Allstate

CIT Bank created a strategic partnership with Allstate. The joint venture, CIT Northbridge Credit, will provide revolving and term loan commitments to middle market companies.