NEW YORK, Dec. 28, 2021 /PRNewswire/ -- CIT Group
Inc. (NYSE: CIT) today announced that its Maritime
Finance business provided $35.5
million to finance four commercial shipping vessels operated
by Greenyield Shipping LLC.
Greenyield is managed by Hayfin Capital Management, one of
Europe's leading alternative asset
management firms, which has employed a multi-disciplined approach
towards investments in the maritime sector and has over the last
five years invested in more than 65 vessels across the tanker,
containerships, dry bulk, LNG and offshore segments.
"Deep water shipping plays a vital role in supporting the global
supply chain and we are committed to investing responsibly by
utilizing available solutions to assist in the decarbonization of
shipping while generating consistent returns for our investors,"
said Stephen Majeski, Managing
Director of Hayfin. "We appreciated CIT's industry knowledge, their
complementary approach towards underwriting risk and their agility
in arranging financing for these cargo vessels."
"The Hayfin team is respected throughout the industry for their
expertise in managing commercial vessels serving a variety of
shipping categories," said Evan
Cohen, managing director and group head for CIT's Maritime
Finance business. "We worked closely to understand their
objectives and arrange the 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.