CIT Group Inc. announced that its Maritime Finance business served as sole lead arranger on a $70 million senior secured financing on behalf of International Container Company Holdings Limited.

The loan is secured by three large container vessels operated by Maersk A/S, a direct subsidiary of AP Moller Maersk, which owns and operates more than 700 container vessels worldwide.

“We are pleased to arrange this financing for International Container Company Holdings and its various owners as they build their fleet of container ships to serve 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.