NEW YORK, Oct. 14, 2021 /PRNewswire/ -- CIT Group
Inc. (NYSE: CIT) today announced that its Maritime
Finance business served as sole lead arranger on $26.5 million in senior secured financing on
behalf of Queen Esther Shipping Limited.
The loan is secured by the Queen Esther, a modern container ship
operated by a joint venture led by Lomar Corporation Limited, a
longtime CIT client.
"We are pleased to arrange this financing for Queen Esther
Shipping and extend our long-standing relationship with Lomar
Corporation as it continues to build its investments in maritime
container shipping to serve growing market demand," said
Evan Cohen, managing director and
group head for CIT's Maritime Finance business.
CIT's Maritime Finance business, part of its 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.