NEW YORK, June 24, 2021 /PRNewswire/ -- CIT Group
Inc. (NYSE: CIT) today announced that its Maritime
Finance business is providing $42
million in financing for a portfolio of seven dry bulk
vessels.
Dynamic Bulk Holdings, a leading dry bulk shipping operator,
will use the loan to refinance existing debt on its fleet of seven
Handymax vessels.
"Demand for commodities transport increases constantly as the
global economy recovers from the impact of the COVID-19 pandemic,"
said Tassos Psaropoulos of Dynamic Bulk Holdings. "We appreciated
CIT's support all these years and its expertise in arranging this
financing, which will help us to continue to serve our
customers."
"Dynamic Bulk Holdings is well-known for its shipping experience
and performance," said Evan Cohen,
managing director and group head for CIT's Maritime
Finance business. "We have supported the company's financing
needs in the past and are pleased to do so again with this latest
loan."
Maritime Finance, part of CIT's Commercial
Finance division, offers customized solutions for secured
loans to a global client base of vessel owners and operators.
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.