CIT Group’s commercial aircraft leasing business entered into an amended revolver that extends the final maturity date and lowers the commitment amount that supports the sale of the business to Avolon Holdings.
CIT Commercial Services was selected as the sole provider of factoring services to AG Adriano Goldschmied and its affiliate, Big Star. Both firms are either owned by or affiliated with Koos Manufacturing, a Los Angeles-based producer of high-end jeans.
Michael Brosnan has been named to the CIT board of directors, replacing John Oros who has stepped down from board due to the demands of his position with J.C. Flowers.
CIT Aerospace, Defense & Government Finance served as sole lead arranger in a $52 million senior secured credit facility for North American Rescue.
In its Q3/16 earnings report, CIT announced that financing leasing assets of $49.3 billion were down 1.6% from the $50.1 billion reported in the same quarter a year ago.
CIT Aerospace, Defense & Government Finance provided a $35 million senior secured credit facility to Mesa Airlines, a provider of regional air service for American Airlines and United Airlines.
CIT named James J. Duffy executive vice president and chief human resources officer. Duffy previously held the role of global head of human resources prior to leaving in 2010.
Vertical Bridge entered into a new $400 million senior secured credit facility led by TD Securities, with Barclays, CIT, Deutsche Bank, JPMorgan and SunTrust as joint lead arrangers and joint book runners.