CIT Group announced that it arranged and syndicated a $90 million senior secured credit facility to The Levy Group Inc., a designer, manufacturer, importer, marketer and distributor of men’s and women’s outerwear, dresses, active sportswear and men’s tailored clothing. CIT Commercial Services served as sole Lead Arranger, Bookrunner and Syndication Agent for the transaction. CIT Commercial Services will also serve as Administrative Agent, Collateral Agent, Documentation Agent and a lender in the facility.

“We are proud to support The Levy Group through this financing, which will help the company continue to grow and diversify its business,” said Jon Lucas, President of CIT Commercial Services. “We have a strong relationship and have worked closely with The Levy Group for the past 20 years. This transaction is representative of our knowledge and expertise in the retail and apparel sectors and our unmatched client service in the industry.”

Marc Heller, Northeast Regional Manager and International Manager, CIT Commercial Services, added, “The Levy Group is a family owned business that has been operating for more than 65 years and is a leader in its field. We are pleased we could put a financing solution in place that helps them continue to grow their business, and we look forward to assisting the company achieve its short- and long-term goals.”

Donald Levy, President of The Levy Group, said, “Our relationship with CIT over the last two decades has been instrumental to the success of our company. CIT understands our business, is a leader in our industry and is a trusted resource.”