CIT outlined a $1 million community commitment to support those affected by COVID-19. These resources will provide some immediate relief to New York City and L.A. County, the respective headquarters for the company and its bank subsidiary.
CIT Group’s Power and Energy business served as lead arranger for a $140 million financing for esVolta, a developer of utility-scale energy storage systems for renewable energy projects.
CIT Group’s Power and Energy unit arranged approximately $200 million in financing for a 76-megawatt portfolio of community solar projects in four states.
CIT Group’s Aviation Lending business served as sole lender and facility agent on a $35 million secured financing for Icelandair Group, the national carrier of Iceland.
Nebraska Book Company entered into a new five-year, asset-based loan facility with CIT Bank.
CIT Group served as the coordinating lead arranger on a $416 million debt financing supporting Longroad Energy’s 379-megawatt Prospero solar facility. Facebook will be the sole tax equity investor.
CIT Group’s Healthcare Finance business led a $425 million senior credit facility on behalf of AdaptHealth.
Legendary Entertainment closed a $1 billion senior secured revolving credit facility led by J.P. Morgan.
CIT Group added Jason Cha to its Communications & Technology Finance team in its Commercial Finance division. Cha began his career with the Leveraged Finance group at Lehman Brothers/Barclays Capital.
CIT Group added Thomas M. Affolter to the Sponsor Finance team in its Commercial Finance division.