NEW YORK, Feb. 2, 2021 /PRNewswire/ -- CIT Group
Inc. (NYSE: CIT) today announced that its Technology, Media
and Telecommunications business served as co-lead arranger and
joint bookrunner for a $165 million
financing on behalf of iEnergizer, a leading technology services
and media solutions company.
The financing, which includes a $150
million term loan and a $15
million revolving credit facility, will be used to refinance
existing debt and fund a dividend to shareholders.
Founded in 2000, iEnergizer provides technology-enabled services
to clients across a wide range of industries, including gaming,
healthcare, publishing, travel, and financial services.
"We worked closely with iEnergizer to understand its objectives
and were happy to support this financing, given its world-class
management team," said Thomas
Westdyk, managing director and group head for CIT's
Technology, Media and Telecommunications business. "This new
financing provides the company with increased flexibility in
managing its operations and growth."
CIT's Technology, Media and Telecommunications business
supports the development, expansion, equipment, and strategic
acquisition needs of clients in the telecommunications, technology,
media and information services industries. The group, part of CIT's
Commercial Finance division, provides recurring revenue, cash
flow, real estate and asset-based senior debt solutions to middle
market companies throughout the United
States.
About CIT
CIT is a leading national bank
focused on empowering businesses and personal savers with the
financial agility to navigate their goals. CIT Group Inc. (NYSE:
CIT) is a financial holding company with over a century of
experience and operates a principal bank subsidiary, CIT Bank, N.A.
(Member FDIC, Equal Housing Lender). The company's commercial
banking segment includes commercial financing, community
association banking, middle market banking, equipment and vendor
financing, factoring, railcar financing, treasury and payments
services, and capital markets and asset management. CIT's consumer
banking segment includes a national direct bank and regional branch
network. Discover more at cit.com/about.
MEDIA RELATIONS:
John M.
Moran
212-461-5507
john.moran@cit.com
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SOURCE CIT Group Inc.