{"id":442027,"date":"2021-02-23T09:03:47","date_gmt":"2021-02-23T14:03:47","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=442027"},"modified":"2021-02-23T09:03:47","modified_gmt":"2021-02-23T14:03:47","slug":"cit-serves-as-sole-lead-arranger-on-45-million-financing-for-container-ships","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cit-serves-as-sole-lead-arranger-on-45-million-financing-for-container-ships\/","title":{"rendered":"CIT Serves as Sole Lead Arranger on $45 Million Financing for Container Ships"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n NEW YORK<\/span>, Feb. 23, 2021<\/span> \/PRNewswire\/ — CIT Group Inc.<\/a>\u00a0(NYSE: CIT) today announced that its Maritime Finance<\/a>\u00a0business served as sole lead arranger on a $45 million<\/span> financing for a portfolio of seven container ships.<\/p>\n

\n

\n
\n \"(PRNewsfoto\/CIT
\n <\/a>\n <\/p>\n<\/p><\/div>\n

The financing was arranged on behalf of a fund managed by Mangrove Partners, a New York City<\/span>-based value-oriented investment manager with substantial expertise is shipping assets. All seven vessels are covered by existing charters with leading container ship operators.<\/p>\n

“CIT’s maritime expertise was evident throughout the financing process,” said Nathaniel August<\/span>, President of Mangrove Partners. “We appreciated CIT’s agility in bringing this transaction to a successful conclusion.”<\/p>\n

“Mangrove Partners is well-known for its investment expertise and knowledge of the shipping industry,” said Evan Cohen<\/span>, managing director and group head for CIT’s Maritime Finance<\/a>\u00a0business. “It was a pleasure to assist them with this transaction and we look forward to other opportunities that may arise in the future.”<\/p>\n

\n Maritime Finance<\/a>, part of CIT’s Commercial Finance<\/a>\u00a0division, offers customized solutions for secured loans to a global client base of vessel owners and operators.<\/p>\n

\n About CIT
<\/b>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<\/a>.<\/p>\n

\n
\n MEDIA RELATIONS:<\/a>
\n
\n <\/b>
\n John M. Moran<\/span>
\n
212-461-5507
john.moran@cit.com<\/a><\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/cit-serves-as-sole-lead-arranger-on-45-million-financing-for-container-ships-301233016.html<\/a><\/p>\n

SOURCE CIT Group Inc.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire NEW YORK, Feb. 23, 2021 \/PRNewswire\/ — CIT Group Inc.\u00a0(NYSE: CIT) today announced that its Maritime Finance\u00a0business served as sole lead arranger on a $45 million financing for a portfolio of seven container ships. The financing was arranged on behalf of a fund managed by Mangrove Partners, a New York City-based value-oriented investment manager with substantial expertise is shipping assets. All seven vessels are covered by existing charters with leading container ship operators. “CIT’s maritime expertise was evident throughout the financing process,” said Nathaniel August, President of Mangrove Partners. “We appreciated CIT’s agility in bringing this transaction to a successful conclusion.” “Mangrove Partners is well-known for its investment expertise and knowledge of the shipping industry,” said Evan Cohen, … <\/p>\n

Continue reading “CIT Serves as Sole Lead Arranger on $45 Million Financing for Container Ships”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-442027","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCIT Serves as Sole Lead Arranger on $45 Million Financing for Container Ships - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cit-serves-as-sole-lead-arranger-on-45-million-financing-for-container-ships\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIT Serves as Sole Lead Arranger on $45 Million Financing for Container Ships - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire NEW YORK, Feb. 23, 2021 \/PRNewswire\/ — CIT Group Inc.\u00a0(NYSE: CIT) today announced that its Maritime Finance\u00a0business served as sole lead arranger on a $45 million financing for a portfolio of seven container ships. The financing was arranged on behalf of a fund managed by Mangrove Partners, a New York City-based value-oriented investment manager with substantial expertise is shipping assets. All seven vessels are covered by existing charters with leading container ship operators. “CIT’s maritime expertise was evident throughout the financing process,” said Nathaniel August, President of Mangrove Partners. “We appreciated CIT’s agility in bringing this transaction to a successful conclusion.” “Mangrove Partners is well-known for its investment expertise and knowledge of the shipping industry,” said Evan Cohen, … Continue reading "CIT Serves as Sole Lead Arranger on $45 Million Financing for Container Ships"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/cit-serves-as-sole-lead-arranger-on-45-million-financing-for-container-ships\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-23T14:03:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/784850\/CIT_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cit-serves-as-sole-lead-arranger-on-45-million-financing-for-container-ships\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cit-serves-as-sole-lead-arranger-on-45-million-financing-for-container-ships\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"CIT Serves as Sole Lead Arranger on $45 Million Financing for Container Ships\",\"datePublished\":\"2021-02-23T14:03:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cit-serves-as-sole-lead-arranger-on-45-million-financing-for-container-ships\\\/\"},\"wordCount\":321,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cit-serves-as-sole-lead-arranger-on-45-million-financing-for-container-ships\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/784850\\\/CIT_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cit-serves-as-sole-lead-arranger-on-45-million-financing-for-container-ships\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cit-serves-as-sole-lead-arranger-on-45-million-financing-for-container-ships\\\/\",\"name\":\"CIT Serves as Sole Lead Arranger on $45 Million Financing for Container Ships - 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