CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $50 million credit facility for Intermetal Rebar LLC.
 
Headquartered in Miami, Florida, Intermetal Rebar is a leading importer and distributor of reinforcing bar ("rebar") and other structural products to distributors, fabricators, and contractors in the non-residential construction industry.

"We are seeing increased demand for our products as the economy continues its post-pandemic rebound," said Joseph Tedesco, chief financial officer of Intermetal Rebar. "We appreciated the expertise of the CIT Northbridge team in arranging the financing to support our operations and empower us to serve our customers."

"Intermetal Rebar is well positioned in its industry to gain from the ongoing economic growth," said Neal Legan, who leads CIT Northbridge. "We worked closely with the company's leadership to understand their needs and develop a financing package that advances their business strategy."