ING Capital acted as sole bookrunner and coordinating lead arranger on debt financing consisting of a term loan facility totaling $490 million and a $60 million revolving credit facility for Lighthouse Infrastructure, a wholly-owned subsidiary of Third Coast Midstream.
CIT’s power and energy business served as a co-lead arranger on $93.3 million in financing for a portfolio of six battery energy storage systems owned by Key Capture Energy in Texas.
First Citizens BancShares, the parent company of First Citizens Bank & Trust Company, and CIT Group, the parent company of CIT Bank, jointly received stockholder approval to merge companies.
CIT’s healthcare finance business served as sole lead arranger on $16.1 million in financing for the acquisition of a portfolio of dialysis centers by Cypress West Partners.
CIT’s technology, media and telecommunications business served as co-lead arranger and joint bookrunner on a $150 million term loan and $15 million revolving credit facility for iEnergizer, a technology services and media solutions company.
CIT’s healthcare finance business served as sole lead arranger of senior debt financing totaling $48 million for the acquisition of a portfolio of medical office buildings. The borrower is the joint venture between Kayne Anderson Real Estate and Remedy Medical Properties.
CIT’s maritime finance business served as sole lead arranger on a $56 million senior secured financing on behalf of Seamax Container Shipping II.
Deutsche Bank, Landesbank Hessen-Thüringen (Helaba) and Norddeutsche Landesbank (NORD/LB), along with existing lenders, expanded 8minute Solar Energy’s $225 million revolving credit facility to $350 million.
CIT is an established name in the asset-based lending industry, but that hasn’t stopped it from continuing to evolve and innovate. In 2020 alone, the bank expanded its ABL division, hired a new ABL team leader and continued to close deals with its CIT Northbridge Credit joint venture, setting itself up for continued success in the marketplace.
CIT’s power and energy business served as coordinating lead arranger on refinancing totaling $323 million for Coso’s geothermal power facility in Southern California.