NEW YORK, Nov. 8, 2021 /PRNewswire/ -- CIT Group
Inc. (NYSE: CIT) today announced that its Maritime Finance
business arranged to provide up to $58
million to refinance four container ships operated by
Leonhardt & Blumberg.
The financing includes both term loan and delayed draw
components. Leonhardt & Blumberg is a long-standing shipowner
and management firm with an existing managed fleet of more than 35
feeder vessels ranging in size from 1,000 to 3,600 TEU.
"Container ships play a vital role in moving goods to market
through the global supply chain," said Mathias Gaethje, Managing Director, Leonhardt
& Blumberg. "We appreciated CIT's expertise in arranging
financing for these vessels."
"Leonhardt & Blumberg is well-known throughout the shipping
industry for their expertise in operating and managing container
ships," said Evan Cohen, managing
director and group head for CIT's Maritime Finance business. "We
worked closely to understand their objectives and arrange the right
financing to help them reach their business goals."
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.