CIT Serves as Sole Lead Arranger on $26.5 Million Maritime Financing
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.