CIT Archives - ABFJournal

ING Provides $225MM Star Mountain Capital Asset-Based Leverage Facility

Star Mountain Capital closed a $225 million asset-based leverage facility led by ING Capital. The lending group consists of ING, CIT, TIAA Bank, Axos Bank, East West Bank, Georgia Banking Company and Customers Bank.

CIT Arranges $68.4MM in Financing for Crane Solar in Texas

CIT’s power and energy business served as lead arranger for $68.4 million in financing for the acquisition of Crane Solar, a 150-megawatt solar farm located in Crane County, TX, and an adjacent 25-megawatt battery development.

CIT Provides $42MM in Financing for Dry Bulk Fleet

CIT’s maritime finance business is providing $42 million in financing for a portfolio of seven dry bulk vessels. Dynamic Bulk Holdings, a dry bulk shipping operator, will use the loan to refinance existing debt on its fleet of seven Handymax vessels.

June 28, 2021 CIT | Dynamic Bulk Holdings | Evan Cohen | Tassos Psaropoulos Ian Koplin

CIT Provides $20MM Credit Facility to GEE Group

CIT’s asset-based lending business served as agent and sole lender on a $20 million loan and revolving credit facility for GEE Group, a provider of professional staffing services and human resources solutions.

June 9, 2021 Chris Esposito | CIT | Derek Dewan | GEE Group Ian Koplin

CIT Arranges $200MM in Financing for Solar Power Project in Illinois

CIT’s power and energy business served as coordinating lead arranger for approximately $200 million in financing for the 149-megawatt Big River solar power project in White County, IL.

May 28, 2021 CIT | D. E. Shaw Group | D. E. Shaw Renewable Investments | Mike Lorusso | Thomas de Swardt Ian Koplin

CIT Hires Goddard as Business Development Officer for ABL Division

CIT hired Blake Goddard as a business development officer for its asset-based lending business. Goddard will be based in Atlanta and focus on asset-based lending business development across the Southeast.

May 20, 2021 Blake Goddard | Chris Esposito | CIT Ian Koplin

CIT Names DeRosa a Business Development Officer for Commercial Services

CIT named Christopher DeRosa a business development officer in the West Coast office of its commercial services business. DeRosa will focus on business development across a range of verticals supported by CIT’s commercial services business.

May 12, 2021 Christopher DeRosa | CIT | Darrin Beer Ian Koplin

CIT Equipment Finance Adds Business Development Leaders for Northeast, West & Southwest

Wayne Wagner, Mark Johnson and JP DeStefano joined CIT’s equipment finance division as vice presidents for business development on the industrial team. They will be responsible for developing relationships throughout the Northeast, West and Southwest regions, respectively.

April 22, 2021 CIT | Harold Ray | JP DeStefano | Mark Johnson | Wayne Wagner Ian Koplin

CIT Wins 2021 FinTech Breakthrough Award for Business Lending Point-of-Sale Platform

FinTech Breakthrough selected CIT Group’s small business solutions group as the winner of the Business Lending Innovation Award for its point-of-sale lending platform in the fifth annual FinTech Breakthrough Awards program.

March 17, 2021 CIT | FinTech Breakthrough | James Johnson | Ken Martin Phil Neuffer

ING Capital and Others Arrange $550MM Debt Facility for Lighthouse Infrastructure

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.

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