First-Citizens Bank & Trust Company (First Citizens Bank) announced its vendor equipment financing business will now be known as First Citizens Bank Equipment Finance to better communicate its core mission to vendors, customers and prospects.Formerly...
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February 24, 2023, 07:30 AM
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First Citizens Bank announced the official launch of its Middle Market Banking unit to support the financial needs and goals of midsize businesses across the Southeastern U.S. Headquartered in Charlotte, First Citizens Middle Market Banking is now...
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September 07, 2022, 07:20 AM
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First Citizens Bank announced its OneWest Bank division based in Southern California has completed its conversion to First Citizens’ operations and systems. This conversion integrates OneWest Bank customer accounts into First Citizens products and...
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July 19, 2022, 07:05 AM
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Origis Energy announced the close of a $375 million credit facility for its solar and energy storage development project pipeline. This innovative facility for the renewable energy industry bundles Letter of Credit and equipment financing to fund...
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May 04, 2022, 07:20 AM
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CIT, a division of First Citizens Bank, announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $145 million credit facility for Natural Gas Compression Systems Inc. Based in Traverse City...
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April 22, 2022, 07:26 AM
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Businesses are investing in technology to expand online operations and facilitate remote work during the pandemic. But many of those same businesses are also eager to see their employees return to the workplace in greater numbers over the long...
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March 17, 2022, 07:15 AM
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First Citizens BancShares Inc., parent company of First-Citizens Bank & Trust Company, announced the completion of its previously announced merger with CIT Group Inc.North Carolina-headquartered First Citizens is now a top 20 U.S. financial...
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January 04, 2022, 07:25 AM
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CIT Group Inc. announced that its Maritime Finance business provided $35.5 million to finance four commercial shipping vessels operated by Greenyield Shipping LLC.Greenyield is managed by Hayfin Capital Management, one of Europe's alternative asset...
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December 29, 2021, 07:20 AM
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First Citizens BancShares, Inc., the parent company of First-Citizens Bank & Trust Company, and CIT Group Inc. the parent company of CIT Bank, N.A., jointly announced that their previous proposal to merge the two companies has received approval from...
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December 20, 2021, 07:18 AM
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CIT Group's Middle Market Banking business provided $6.3 million to refinance corporate office properties for Diamond Communications LLC. Diamond Communications is one of the largest private wireless infrastructure companies in the U.S., managing...
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December 16, 2021, 07:10 AM
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CIT Group Inc. announced the results of its fourth annual One Million Meals campaign to fight hunger in partnership with Feeding America. CIT customers, employees, social media fans and others joined in to support the donation of 1.5 million meals to...
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December 14, 2021, 07:10 AM
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CIT Group Inc. announced its Capital Equipment Finance business has hired three new business development leaders to support clients and growth in the equipment finance market.Thomas Linebarger, Scott Ryan and Erick Berreondo have joined CIT’s Capital...
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December 08, 2021, 07:22 AM
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CIT Group Inc. announced its Power and Energy business led the refinancing of a $69 million portfolio of solar facilities owned and operated by Strata Clean Energy LLC, an integrated solar and storage energy service provider based in North...
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December 03, 2021, 07:12 AM
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CIT Group Inc. announced its Power and Energy business served as coordinating lead arranger on nearly $210 million in financing for a solar project in Brazoria County, TX. Located in the Greater Houston power market, Brazoria West Solar Project is a...
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November 30, 2021, 07:15 AM
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CIT Group announced that its Maritime Finance business arranged to provide up to $58 million to refinance four container ships operated by Leonhardt & Blumberg.The financing includes both term loan and delayed draw components. Leonhardt & Blumberg is...
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November 09, 2021, 07:20 AM
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CIT Group Inc. announced its Asset-Based Lending business served as joint lead arranger on a $1.16 billion financing for PRO Unlimited Inc., a leading Integrated Workforce Management (IWM) platform provider.Serving hundreds of the world’s most...
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November 03, 2021, 07:02 AM
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CIT Group Inc. announced its Maritime Finance business is providing $70 million in financing to Maritime Asset Partners for the refinancing of Sterling LLC. Maritime Asset Partners is a specialized finance platform focused on leasing, secured lending...
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November 02, 2021, 07:20 AM
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CIT Group Inc. announced the start of its annual partnership with Feeding America to help provide One Million Meals to people facing hunger across the country."We're proud to again partner with Feeding America on our annual hunger-relief campaign to...
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November 02, 2021, 07:07 AM
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CIT Group Inc. announced that its Power and Energy business served as sole lead arranger for $67.8 million in financing for construction of the new AMP NY2 community solar and storage portfolio.CIT led the financing on behalf of Amp Energy, which is...
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November 01, 2021, 07:16 AM
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CIT Group Inc. announced its Technology, Media and Telecommunications business served as sole lead arranger and administrative agent on up to $95 million in financing toward the relaunch of noted Hollywood film production company Castle Rock...
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October 22, 2021, 07:07 AM
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CIT Group Inc. announced that the Industrial group within its Equipment Finance business has provided about $4.4 million in financing toward the acquisition of multiple pieces of heavy equipment. The equipment consists primarily of yard loaders and...
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October 20, 2021, 07:20 AM
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CIT Group Inc. announced 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...
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October 15, 2021, 07:20 AM
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CIT Group Inc. announced Eduard Vernède has joined the company as Managing Director in CIT's Aerospace, Defense & Government Services business.In his new role, Vernède largely will be focused on CIT's lending activity to serve the multibillion-dollar...
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September 09, 2021, 07:22 AM
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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...
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August 17, 2021, 07:05 AM
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CIT Group Inc. announced the appointment of Kevin Ronan as National Sales Director for the Capital Equipment Finance business.Ronan, who was also promoted to Senior Vice President, will be based in New York and will oversee business development...
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July 30, 2021, 07:25 AM
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CIT Group Inc. announced its Middle Market Banking business provided $14.3 million in financing to Depot Properties LLC.Depot Properties is the owner and operator of a large truck servicing terminal in Laredo, TX, primarily occupied by...
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July 22, 2021, 07:17 AM
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First Citizens BancShares Inc., the parent company of First-Citizens Bank & Trust Company, and CIT Group Inc., the parent company of CIT Bank, N.A., jointly announced the proposal to merge the two companies has received regulatory approval from the...
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July 15, 2021, 07:20 AM
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CIT Group Inc. announced its Power and Energy business served as lead arranger for $68.4 million in financing for the acquisition of Crane Solar, a 150-megawatt solar farm located in Crane County, TX, and an adjacent 25-megawatt battery...
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July 14, 2021, 07:06 AM
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CIT Group Inc. announced its Maritime Finance business is providing $42 million in financing for a portfolio of seven dry bulk vessels.Dynamic Bulk Holdings, a dry bulk shipping operator, will use the loan to refinance existing debt on its fleet of...
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June 25, 2021, 07:17 AM
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CIT Group's Healthcare Finance business served as sole lead arranger on a $33.2 million loan to finance the acquisition of a medical office building in Brooklyn, New York. The class A medical office building is located at 902 Quentin Road, Brooklyn....
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June 16, 2021, 06:09 AM
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KKR announced the launch of AV AirFinance Limited, a global commercial aviation loan servicer established by a team of experienced industry professionals together with KKR. The new secured loan servicing platform combines stable, long-term capital...
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June 14, 2021, 07:21 AM
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CIT Group Inc. announced it is selling its aviation loan portfolio to KKR. This is related to a previously announced definitive agreement for a portfolio that has a committed loan balance of nearly $800 million across more than 50 loans for...
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June 11, 2021, 07:25 AM
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CIT Group Inc. announced CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $17.4 million credit facility for Hynes Industries, a provider of custom metal solutions.Based in Youngstown, OH, Hynes...
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June 11, 2021, 07:15 AM
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CIT Group Inc. announced its Power and Energy business served as coordinating lead arranger for approximately $200 million in financing for the 149-megawatt Big River solar power project in White County, IL.The project sponsor is D. E. Shaw Renewable...
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May 28, 2021, 07:22 AM
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CIT Group Inc. announced CIT Northbridge Credit, as advised by CIT Asset Management LLC, has named Todd Ping as a Managing Director for business development activities across the southeastern United States.Based in Atlanta, GA, Ping will be...
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May 27, 2021, 07:15 AM
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CIT Group Inc. announced it has hired Blake Goddard as a Business Development Officer in its Asset-Based Lending business.Goddard will be based in Atlanta and focus on asset-based lending business development across the Southeast region, where he...
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May 20, 2021, 07:16 AM
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CIT Group Inc. announced its Maritime Finance business served as sole lead arranger on a $34.25 million financing for a portfolio of six dry bulk vessels.The financing was arranged on behalf of Globus Maritime Limited, an integrated dry bulk shipping...
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May 13, 2021, 07:11 AM
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CIT Group Inc. announced it has named Christopher DeRosa as a Business Development Officer in the West Coast office of its Commercial Services business.DeRosa, a Vice President, will be based in Los Angeles, CA, and will focus on business development...
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May 12, 2021, 07:21 AM
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CIT Group Inc. announced its Maritime Finance business served as sole lead arranger on a $22 million financing for a portfolio of five container ships.The financing was arranged on behalf of Madison Marine Corp., which is partially refinancing debt...
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May 11, 2021, 07:18 AM
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CIT Group Inc. announced it has won two Stevie Awards for business excellence in the 19th Annual American Business Awards. The awards include a Gold award for Company of the Year in Banking and a Silver award for Corporate Social Responsibility...
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May 05, 2021, 07:00 AM
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iCleanse, a provider of UV-C personal device disinfection, announced it has joined forces with CIT Group Inc. to provide low-interest financing on all iCleanse disinfection products to keep customers and staff safe from infectious pathogens. This...
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April 29, 2021, 07:19 AM
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CIT Group Inc. announced its Power and Energy business served as coordinating lead arranger on a $84 million financing for a new 140-megawatt solar farm in Fort Bend County, TX.Cutlass Solar is a utility-scale project to be built about 40 miles...
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April 29, 2021, 07:15 AM
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CIT Group Inc. announced its Equipment Finance business, part of the Business Capital division, has hired new business development leaders for the Northeast, West and Southwest regions.Wayne Wagner, Mark Johnson and JP DeStefano join CIT as Vice...
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April 22, 2021, 07:25 AM
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CIT Group Inc. announced CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $23 million credit facility for Nova Compression, LLC (a successor company to MGC Equipment Company, LLC).Founded in December...
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March 31, 2021, 07:20 AM
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CIT Group Inc. announced CIT Northbridge Credit, as advised by CIT Asset Management LLC, has named Sandy Thomson as a Managing Director for Business Development Activities across the western United States.Thomson, based in Los Angeles, CA, will be...
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March 26, 2021, 07:22 AM
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CIT Group announced that its Small Business Solutions group has been selected as winner of the “Business Lending Innovation Award” for its point-of-sale lending platform in the fifth annual FinTech Breakthrough Awards program. The recognition was...
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March 18, 2021, 07:15 AM
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CIT Group Inc. announced its Maritime Finance business 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...
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February 24, 2021, 07:18 AM
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CIT Group Inc. announced that its Asset-Based Lending business committed to $25 million in financing while serving as joint lead arranger on an asset-based credit facility of up to $145 million on behalf of a commercial finance company serving...
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February 18, 2021, 07:05 AM
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CIT Group Inc. announced its Power and Energy business served as a co-lead arranger on a $93.3 million financing for a portfolio of six battery energy storage systems located in Texas.The battery energy storage systems (BESS) are owned by Key Capture...
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February 12, 2021, 07:10 AM
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First Citizens BancShares, Inc., the parent company of First-Citizens Bank & Trust Company, and CIT Group Inc., the parent company of CIT Bank, N.A., jointly announced that, at their respective special meetings of stockholders, First Citizens and CIT...
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February 10, 2021, 07:20 AM
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CIT Group Inc. announced its Technology, Media and Telecommunications business served as co-lead arranger and joint bookrunner for a $165 million financing on behalf of iEnergizer, a leading technology services and media solutions company.The...
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February 03, 2021, 07:17 AM
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CIT Group Inc. announced its Maritime Finance business served as sole lead arranger on a $56 million senior secured financing on behalf of Seamax Container Shipping II LLC.The loan is secured by four containerships operated by Seamax Shipping, an...
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January 19, 2021, 07:21 AM
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CIT Group Inc. announced its Power and Energy business served as coordinating lead arranger on a $323 million refinancing of the Coso Geothermal power facility in Southern California.Originally developed in 1987, the 142-megawatt Coso Geothermal...
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December 15, 2020, 07:15 AM
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CIT Group Inc. announced its Power and Energy business served as coordinating lead arranger on a $256 million financing for the 250-megawatt (MW) Taygete I Energy Project owned by 7X Energy, Inc (7X) and located in Pecos County, TX.7X Energy is a...
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December 10, 2020, 07:15 AM
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CIT Group Inc. announced the start of its annual partnership with Feeding America and this year, will double its commitment in the fight against hunger and help donate Two Million Meals for people struggling with food insecurity across the...
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November 11, 2020, 07:05 AM
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CIT Group announced its Power and Energy business served as coordinating lead arranger on a $151 million financing for the 250-megawatt Galloway I solar farm planned for Concho County, TX.The financing was arranged on behalf of Skyline Renewables and...
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October 30, 2020, 07:04 AM
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CIT Group announced that its Asset-Based Lending and Sponsor Finance businesses, both part of the Commercial Finance division, collaborated to serve as joint lead arranger on $175 million financing for MSTS, a B2B payment and credit solutions...
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October 22, 2020, 07:05 AM
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First Citizens BancShares, Inc., the parent company of First-Citizens Bank & Trust Company, and CIT Group Inc., the parent company of CIT Bank, N.A., jointly announced they have entered into a definitive agreement under which the companies will...
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October 16, 2020, 07:10 AM
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CIT Group Inc. Chairwoman and Chief Executive Officer Ellen R. Alemany has received the Leadership Legacy Award from the Center for Executive Succession at the University of South Carolina’s Darla Moore School of Business. The award honors building a...
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October 08, 2020, 07:15 AM
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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...
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October 02, 2020, 07:17 AM
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For middle-market and small businesses, the COVID-19 pandemic is highlighting the vital importance of investing in new technology, facilitating remote work and maintaining the tech-savvy workforce needed to make it all happen, according to a new...
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September 17, 2020, 07:20 AM
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CIT Group Inc. announced its Power and Energy business was named Renewable Energy Lead Arranger of the Year by Power Finance & Risk, a top publication covering the energy project finance industry.CIT’s Power and Energy business was selected by the...
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September 09, 2020, 07:11 AM
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CIT Group Inc. announced its Power and Energy business served as coordinating lead arranger on a $266 million financing for Longroad Energy’s 331-megawatt Prospero 2 solar project in Andrews County, Texas.A leader in renewable energy project...
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August 27, 2020, 07:20 AM
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CIT Group Inc. announced its Asset-Based Lending business, working in conjunction with its Sponsor Finance group, served as lead arranger on senior secured credit facility for von Drehle Corporation, a leading maker of high-quality paper towel...
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August 18, 2020, 07:10 AM
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CIT Group Inc. announced its Maritime Finance business, part of its Commercial Finance division, served as sole lead arranger on $28 million refinancing for Valloeby Shipping Ltd.
Valloeby, which is owned by a fund managed by a U.S. private equity...
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August 14, 2020, 07:25 AM
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CIT Group Inc. announced its Power and Energy business served as lead arranger for approximately $185 million in financing for a 66-megawatt portfolio of community solar projects.The financing was arranged on behalf of Clearway Energy Group, one of...
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August 11, 2020, 07:20 AM
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CIT Group Inc. announced it has made a donation to provide enough fresh food for 100,000 meals to Table to Table, a community-based food rescue program that redistributes would-be wasted food to those in need. The donation addresses food insecurity...
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August 06, 2020, 07:00 AM
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CIT Group (CIT) has donated meals to Mission 22, an organization supporting the veteran community through treatment programs, memorials and community social impact. This donation will feed up to 25 veteran families for one month through Mission 22's...
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July 31, 2020, 07:00 AM
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CIT Group and its Healthcare Finance unit announced a $25 million loan supporting Seavest Healthcare Properties’ acquisition of the MLK Community Hospital Medical Office Building in South Los Angeles. The private, nonprofit hospital provides...
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July 30, 2020, 06:00 AM
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CIT Group Inc. reported its second quarter 2020 financial results. The company posted a second-quarter loss to common shareholders of $98 million. That compares with net income of $128 million in the second quarter a year ago.Excluding noteworthy...
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July 21, 2020, 07:18 AM
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CIT Group Inc. announced that its Power and Energy unit served as lead arranger on a $126 million financing for the 108-megawatt (MW) direct current Trent River Solar project in Pollocksville, NC.The financing was arranged on behalf of solar project...
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July 17, 2020, 07:20 AM
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CIT Group Inc. announced it has named Chris Esposito as Managing Director in charge of its newly expanded Asset-Based Lending business. In this role, Esposito is responsible for managing the Asset-Based Lending team, overseeing the national ABL...
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July 10, 2020, 07:25 AM
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CIT Group Inc. announced its Power and Energy business served as lead arranger on a $118.5 million financing for the utility-scale Harts Mill Solar project in Edgecombe County, NC.The project is owned by Kayne Anderson Capital Advisors L.P., a...
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July 08, 2020, 07:09 AM
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CIT Group Inc. announced its Power and Energy unit served as sole lead arranger on an $85 million financing for the 80-megawatt Pioneer Solar project near Denver, CO.The financing was arranged on behalf of project sponsor Idemitsu Renewables...
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June 25, 2020, 07:10 AM
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CIT Group Inc. announced CIT Northbridge Credit, through its investment advisor CIT Asset Management LLC, served as sole lead arranger on a $20 million senior secured credit facility for Marquis Construction Services LLC.Headquartered in Clute, TX...
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June 18, 2020, 07:05 AM
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CIT Group Inc. announced it has won three Stevie American Business Awards for business excellence. The awards include a Gold award for Achievement in Management – Banking, a Silver award for FinTech Solution and a Silver award for Corporate Social...
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May 28, 2020, 07:21 AM
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CIT Group Inc. and Lenovo announced a three-year program extension to their Lenovo Financial Services program, continuing the decade-long relationship. Under the extension, CIT will continue to provide a broad range of vendor financing solutions for...
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May 22, 2020, 07:25 AM
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CIT Group Inc. announced its Community Association Banking (CAB) business has added two new regional account executives to serve property management companies and homeowner association banking needs in the Florida market.Stacy Crowley and Sal...
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May 01, 2020, 07:05 AM
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CIT Group Inc. announced its Treasury and Payments Services business is collaborating with B2B fintech innovator Fintainium to provide an integrated payments and financial workflow management solution to meet the needs of small and midsize businesses...
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April 29, 2020, 07:25 AM
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CIT Group Inc. announced its Power and Energy business served as lead arranger for a $140 million financing for esVolta, a leading developer of utility-scale energy storage systems for renewable energy projects.The portfolio consists of more than 136...
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February 25, 2020, 07:25 AM
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CIT Group Inc. announced its Small Business Solutions group has released a new version of its award-winning platform that enables real-time lending at the point of sale for business purchases. CIT’s point-of-sale platform simplifies and accelerates...
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February 14, 2020, 07:21 AM
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OneWest Bank, CIT's Southern California branch network, today announced the launch of a new small business mobile app, a new platform to help small business customers seamlessly reach their financial goals.The OneWest Bank business app empowers small...
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February 04, 2020, 07:05 AM
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CIT Group Inc. announced its Real Estate Finance business served as administrative agent for an $87 million loan to finance construction of a new logistics warehouse and storage facility adjacent to John F. Kennedy International Airport in Queens, NY...
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January 27, 2020, 07:10 AM
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CIT Group Inc. announced its Power and Energy unit arranged approximately $200 million in financing for a 76-megawatt portfolio of community solar projects in four states.The financing was arranged on behalf of Clearway Energy Group, one of the...
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January 22, 2020, 07:20 AM
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CIT Group Inc. announced its Maritime Finance business led the arrangement of $56 million in financing toward the acquisition of two large commercial shipping tankers, which are employed on long-term charters.The financing is part of a transaction...
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January 09, 2020, 07:15 AM
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It is with sorrow that the Alta Group mourns the passing of its friend and an industry icon, John H. Giddens, but also with profound gratitude that they are able to have known such a remarkable person.In 1992 he joined leasing industry executives...
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January 08, 2020, 07:28 AM
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CIT Group Inc. announced its banking subsidiary, CIT Bank, N.A., completed the acquisition of Mutual of Omaha Bank on Jan. 1. This transaction advances CIT’s strategic plan through the addition of a stable, lower-cost homeowner association deposit...
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January 03, 2020, 07:30 AM
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Banks including Wells Fargo & Co., Citigroup Inc., PNC Financial Services Group Inc. and CIT Group Inc. own hundreds of thousands of railcars that carry coal, grain and other commodities through North America. It is an unusual line of business for...
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December 27, 2019, 07:30 AM
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CIT Group Inc. announced the results of its second annual One Million Meals campaign to fight hunger in partnership with Feeding America. Customers, employees and others came together to donate 1.5 million meals to people in need and helped CIT...
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December 20, 2019, 07:00 AM
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CIT Group Inc. announced its Capital Equipment Finance business has named Rob Bolo as Director for the Southeast region.Bolo will be based in Charlotte, NC, and will cover North Carolina, South Carolina, Tennessee, Alabama, Georgia, Florida, Virginia...
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December 05, 2019, 07:30 AM
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CIT Group Inc. has appointed Mihir J. Shah as Director of Technology Originations in its Technology, Media and Telecommunications business.In his new role, Shah will have primary responsibility for expanding the business’s existing coverage network...
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December 04, 2019, 07:25 AM
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CIT Group Inc. announced the start of the second annual One Million Meals campaign in partnership with Feeding America to fight hunger this holiday season. Customers, employees and social media followers are invited to join in donating One Million...
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November 21, 2019, 07:05 AM
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Computer hardware and software upgrades are topping the list of investments planned by middle market companies, which regard technology as a key driver of their growth, according to a new survey conducted by The Harris Poll for CIT Group Inc.Middle...
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November 13, 2019, 07:20 AM
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Fitch Ratings has upgraded CIT Group Inc.'s (CIT) and CIT Bank, N.A.'s (CIT Bank) Long-Term Issuer Default Ratings (IDRs) and to 'BBB-' from 'BB+'. The Viability Ratings (VRs) for both entities were also upgraded to 'bbb-' from 'bb+'. The Rating...
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November 13, 2019, 07:05 AM
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CIT Group Inc. announced its Aerospace, Defense and Government Services business served as administrative agent, security agent and lead lender on an $80 million senior secured revolving credit facility for AerFin Holdings.Founded in 2010, AerFin is...
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November 06, 2019, 07:10 AM
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CIT Group announced that its Supply Chain Finance unit, part of its Commercial Services division, is expanding its capabilities to better serve its financing clients. Buyers and suppliers can now optimize their working capital by leveraging Supply...
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October 22, 2019, 07:25 AM
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CIT Group Inc. announced CIT Northbridge Credit, through its investment advisor CIT Asset Management LLC, served as sole lead arranger on a $40 million senior secured credit facility for Hantover Inc., a leading distributor of products to the food...
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October 17, 2019, 07:07 AM
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CIT Group Inc. announced its Real Estate Finance unit served as lead arranger on $87 million in financing for a portfolio of Storage Rentals of America-branded self-storage facilities.The financing will be used by a fund managed by SROA Capital, LLC...
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October 11, 2019, 07:05 AM
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CIT Group Inc. announced Bob McElyea has joined the company as Managing Director leading CIT's Merchant and Card Initiative in the Treasury and Payment Services group. In this role, McElyea will lead the transformation of payment services for CIT's...
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October 09, 2019, 07:06 AM
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CIT Group Inc. announced its Technology, Media and Telecommunications business arranged an $18 million financing package for Denovo Ventures LLC.Denovo, a provider of managed IT services and enterprise resource planning (ERP) consulting expertise for...
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September 25, 2019, 07:20 AM
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CIT Group Inc. announced David S. Bagatelle has joined the company as a Managing Director and will lead the relationship commercial banking activity in the Eastern region. In this role, Bagatelle will deliver an integrated product offering from...
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September 19, 2019, 07:22 AM
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CIT Group Inc. announced its Power and Energy business served as coordinating lead arranger for $140 million in debt financing to support construction of the Lotus Solar Farm, a 67-megawatt solar project in Madera, CA. Concurrent with financial close...
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September 11, 2019, 07:20 AM
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CIT Group Inc. announced David Harnisch will join the company as president of Commercial Finance, effective Sept. 23, 2019. Harnisch will succeed the current president of Commercial Finance Jim Hudak who has elected to retire following a 20-year...
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August 27, 2019, 07:25 AM
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CIT Group Inc. announced Philip Robbins has joined the company as the President of Asset Management and Capital Markets. In this role, he will manage the capital markets portfolio of products, the syndicated loan group and CIT's asset management...
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August 21, 2019, 07:30 AM
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CIT Group Inc. and Mutual of Omaha (Mutual) announced a definitive agreement for CIT’s banking subsidiary, CIT Bank, N.A., to acquire Mutual’s savings bank subsidiary, Mutual of Omaha Bank, for a purchase price of $1 billion.The purchase price will...
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August 13, 2019, 07:30 AM
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CIT Group Inc. announced Ken Martin has joined the company as Managing Director of the Small Business Solutions unit, which is part of its Business Capital division. Martin will lead the strategy and operation of the digital small business financing...
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August 06, 2019, 07:30 AM
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CIT Group Inc. reported second-quarter net income available to common shareholders of $128 million compared with $117 million a year ago. It posted income from continuing operations, excluding noteworthy items, available to common shareholders of...
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July 24, 2019, 07:02 AM
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CIT Group Inc. announced its Power and Energy business served as coordinating lead arranger for $204.5 million in debt financing to support construction of Holstein Solar, a 200-megawatt solar farm to be built in Nolan County, TX. Concurrent with...
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July 24, 2019, 06:15 AM
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CIT Group Inc. announced an expansion of its investment management and advisory capabilities that provides increased capacity and flexibility to finance private equity sponsor-owned middle market companies across a diverse range of industry...
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July 23, 2019, 07:30 AM
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Lease Corporation International (LCI), a helicopter lessor and the aviation division of the Libra Group, has successfully closed a new asset-backed helicopter facility in excess of $135 million with a syndicate of five banks led by CIT Group Inc. as...
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July 18, 2019, 07:19 AM
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CIT Group Inc. announced James J. Gifas has joined the company, effective today, as the head of Treasury Services and will serve on CIT's Executive Management Committee. In this role, he will manage the treasury and cash management product portfolio...
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July 09, 2019, 07:20 AM
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CIT Group Inc. announced Leslie Grizzard has joined the company as Managing Director in the company's Aerospace, Defense & Government Services business.Grizzard will have responsibility for leading CIT's lending activity to serve the...
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June 11, 2019, 07:20 AM
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CIT Group Inc. announced its Power & Energy business served as the coordinating lead arranger on a $416 million debt financing supporting Longroad Energy’s 379-megawatt Prospero solar facility to be built in Andrews County, TX.Founded in 2016 and...
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May 31, 2019, 07:24 AM
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CIT announced the appointment of Elijah Kaplan to lead CIT Northbridge Credit business development efforts across the Northeast.Based in New York, Kaplan is an experienced professional in middle market lending, private equity and restructuring. He...
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May 21, 2019, 07:05 AM
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CIT Group Inc., in partnership with the nonprofit Operation HOPE, introduced the next facet of its Launch and Grow initiative, a 12-week HOPE Inside program aimed at empowering women small business owners in New York City and Los Angeles. Building...
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May 03, 2019, 07:00 AM
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CIT Group Inc. announced its Maritime Finance business served as sole lead arranger on a $40 million senior secured credit facility for MPC Container Ships.MPC Container Ships operates a fleet of 69 vessels. Financing through its secured credit...
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April 29, 2019, 07:20 AM
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CIT Group Inc. reported first-quarter 2019 net income available to common shareholders and income from continuing operations available to common shareholders were each $119 million. Net income available to common shareholders was up from $97 million...
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April 23, 2019, 07:05 AM
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CIT Bank, CIT Group's national online bank, announced it has been selected as winner of the Best Personal Finance Company award by FinTech Breakthrough, an independent organization that recognizes the top companies, technologies and products in the...
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April 04, 2019, 07:11 AM
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CIT Group Inc. announced Neal Harm has joined the company's Commercial Services business as Managing Director overseeing strategy, business development and project management. He will report to Commercial Services President Marc Heller.Harm comes to...
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March 27, 2019, 07:30 AM
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CIT Group Inc. announced CIT Northbridge Credit, through its investment advisor CIT Asset Management LLC, served as sole lead arranger on a $24 million senior secured credit facility for Pocono ProFoods, a foodservice distributor in the Northeast and...
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February 14, 2019, 07:05 AM
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CIT Group Inc. announced CIT Northbridge Credit, its joint venture financing unit, served as sole lead arranger on a $53.8 million senior secured credit facility for Circle 8 Crane Services LLC.Based in Houston, Circle 8 Crane Services is a...
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January 08, 2019, 07:19 AM
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The Conference Board – a member-focused think tank that provides trusted insights for what's ahead – announced the election of Ellen R. Alemany, Chairwoman and CEO of CIT Group, and Beth E. Mooney, CEO of KeyCorp, to its board of trustees.Alemany...
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December 28, 2018, 07:15 AM
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CIT Group Inc. announced it will donate 1.5 million meals this holiday season in partnership with Feeding America, exceeding the original goal of its One Million Meals campaign by 50 percent."Thank you to the customers, followers and employees who...
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December 21, 2018, 07:05 AM
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CIT Group Inc. announced that Robert Rubino has been named President of CIT Bank, N.A., the banking subsidiary of CIT, and Head of Commercial Banking, effective Feb. 25. Rubino will join the company’s Executive Management Committee and report to...
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December 05, 2018, 07:25 AM
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Bloomberg reports HNA Group Co. is putting more of its aviation and property assets up for sale, including CIT Aircraft Leasing, the airline leasing business purchased from CIT Group Inc. for more than $10 billion. The Chinese conglomerate is...
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November 29, 2018, 07:30 AM
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CIT Group Inc. announced a new campaign in partnership with Feeding America inviting individuals to join in donating one million meals to people in need. Participants can help direct the donation by choosing to support Feeding America's Back Pack...
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November 29, 2018, 07:00 AM
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CIT Group Inc. revealed a simplified and refreshed brand identity aimed at presenting a more cohesive market presence following a multi-year transformation of the company. The effort includes a new marketing campaign, tagline and website reflecting...
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November 16, 2018, 07:30 AM
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CIT Group Inc. announced Alla Whitston has joined the company as the Chief Technology Officer reporting to Denise Menelly, Executive Vice President and Head of Technology and Operations. In this role, Whitston will lead the technology planning and...
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October 30, 2018, 07:16 AM
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CIT Group Inc. reported third-quarter net income available to common shareholders of $132 million, compared with net income available to common shareholders of $220 million for the year-ago quarter. Income from continuing operations available to...
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October 23, 2018, 07:20 AM
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CIT Group Inc. announced its Maritime Finance unit served as sole lead arranger on a $15 million senior secured loan for MRC Maritime Holdings, a ship-owning entity controlled by a private New York City-based investment fund manager.The loan...
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October 11, 2018, 07:15 AM
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CIT Group Inc. announced it has completed the sale of NACCO, its European rail leasing business, for net proceeds of $1.1 billion based on current exchange rates. The sale was completed in two separate transactions and included approximately $1.2...
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October 05, 2018, 07:20 AM
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CIT Group Inc. announced it has named Chris Ralston as a director in the Lender Finance business within CIT’s Business Capital division.In his new role, Ralston will be responsible for analyzing portfolio opportunities and engaging with independent...
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September 21, 2018, 07:25 AM
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CIT Group Inc. announced it has named Christopher M. McLaughlin as chief underwriting officer for the company’s Commercial Finance division.In his new role, McLaughlin is responsible for leading a team of underwriters and portfolio managers across a...
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August 29, 2018, 07:30 AM
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CIT Group Inc. announced CIT Northbridge Credit, its joint venture financing unit, served as sole lead arranger on a $35 million senior secured credit facility for Imperial Crane Services Inc.For nearly half a century, Imperial Crane, based in...
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August 03, 2018, 07:20 AM
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CIT Group Inc. announced it has named Joerg Obermueller as the managing director of the Supply Chain Finance business within the company’s Commercial Services division.In his new role, Obermueller will be responsible for assembling a team, building...
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July 31, 2018, 07:20 AM
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CIT Group Inc. reported second-quarter net income available to common shareholders of $117 million, compared with net income available to common shareholders of $157 million for the year-ago quarter. Income from continuing operations available to...
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July 24, 2018, 07:28 AM
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CIT Group Inc. announced it is creating a new Logistics Finance unit within its Capital Equipment Finance business to deliver expanded leasing and financing solutions to all stages of the supply chain. The logistics equipment category broadly...
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July 20, 2018, 07:30 AM
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CIT Group Inc. announced the integration of its FlexAbility solution with ECi’s e-automate software product.CIT’s FlexAbility solution gives manufacturers and dealers the ability to structure what they sell, how they charge for it, how invoices are...
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July 19, 2018, 07:15 AM
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CIT Group Inc. announced the results of its annual employee volunteer initiative, CIT Cares Month. Throughout June, more than 250 community projects were completed by 1,900 volunteers over 7,300 hours across 18 locations to make a difference. "CIT...
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July 16, 2018, 06:59 AM
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Quebec-based Innergex Renewable Energy Inc. announced the acquisition of a sizable photovoltaic solar project located in Winkler County, Texas, from Longroad Energy Partners, LLC. Total construction costs are estimated at $397 million and will be...
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July 05, 2018, 07:05 AM
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CIT Group Inc. announced it has added a senior leader to its Communications & Technology Finance team in its Commercial Finance division.Jason Cha joins CIT as director of originations, with primary responsibility for expanding its existing coverage...
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June 29, 2018, 07:15 AM
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Middle market executives are more positive about the health of their businesses and more optimistic about their prospects for future growth than at any time in the last three years, according to the findings of a new survey conducted by The Harris...
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June 28, 2018, 07:25 AM
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CIT Group Inc. announced it is expanding its Business Capital team with the addition of two business development officers to help support growth initiatives for business technology solutions.“Expanding our business development team will enable us to...
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June 27, 2018, 07:25 AM
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CIT Group Inc. announced the appointment of Randy Kaploe to the senior leadership team of CIT’s Rail division.Kaploe joins as senior vice president and will lead the Rail division’s sales efforts along the U.S. Gulf Coast, in Mexico and in Western...
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June 20, 2018, 07:25 AM
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CIT Group Inc. announced it added a senior leader to its Sponsor Finance team in its Commercial Finance division responsible for pursuing new growth opportunities for financing middle-market private-equity sponsor-owned businesses. Thomas M. Affolter...
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June 06, 2018, 07:20 AM
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CIT Group Inc. announced the launch of its second annual volunteer campaign, CIT Cares Month, a companywide initiative that inspires and encourages employees to volunteer in support of local communities and non-profit organizations nationwide. "We're...
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June 05, 2018, 07:05 AM
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CIT Group Inc. announced its Healthcare Finance business, part of the Commercial Finance division, has closed on a $15.3 million loan to finance the purchase of a San Diego, Calif., medical office building. The Coast Medical Center is a four -story...
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May 31, 2018, 07:00 AM
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CIT Group Inc. announced it has named Wahida Plummer as its Chief Risk Officer responsible for all enterprise risk. In addition, the company has promoted its Chief Credit Officer Marisa Harney to an expanded role leading all credit risk. Both leaders...
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May 29, 2018, 07:30 AM
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CIT Group Inc. announced CIT Northbridge Credit, its joint venture financing unit, served as sole lead arranger on a $20 million senior secured revolving and term loan credit facility for Greene’s Energy Group, LLC.Greene’s Energy Group, which has...
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May 25, 2018, 07:20 AM
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CIT Group Inc. announced its Franchise Finance team, part of CIT's Business Capital division, has closed a $25 million loan to La Palma, Calif.-based Friendly Franchisees Corporation.
Friendly Franchisees is a leading owner and operator of Carl's Jr...
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May 24, 2018, 07:20 AM
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CIT Group Inc. announced its CIT Northbridge Credit joint venture served as sole lead arranger on a $30 million revolving credit facility for Alliance Time Holdings.With headquarters in Manhattan, Alliance Time Holdings is a highly data-driven global...
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May 16, 2018, 07:20 AM
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CIT Group Inc. announced its Commercial Finance division's Energy Finance unit served as sole lead arranger and administrative agent for approximately $79 million in financing for Onyx Renewable Partners L.P. This new financing follows a $53 million...
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May 08, 2018, 07:20 AM
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FinTech Breakthrough, an independent organization that recognizes the top companies, technologies and products in the global FinTech market, announced it has selected CIT Group's point-of-sale digital platform as the winner of its "Best Small...
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May 08, 2018, 07:10 AM
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CIT Group Inc. announced its Capital Equipment Finance unit, part of CIT's Business Capital division, has added two new business leaders to enhance its direct origination capabilities and support business growth."With these appointments, we continue...
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May 02, 2018, 07:20 AM
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CIT Direct Capital, the national online small business lending unit of CIT Group, announced the results of its new survey conducted by The Harris Poll revealing nearly three out of four small businesses in the U.S. plan to expand their product and...
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May 01, 2018, 07:15 AM
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CIT Group reported first quarter net income available to common shareholders of $97 million, compared to net income available to common shareholders of $180 million for the year-ago quarter. Income from continuing operations available to common...
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April 24, 2018, 07:15 AM
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CIT Group Inc. announced its Commercial Finance division's Energy Finance unit served as sole lead arranger and administrative agent for about $36 million in financing for Nordic Solar LLC, a developer and owner of solar energy facilities.The...
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April 04, 2018, 06:25 AM
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Bloomberg, and other news media, are reporting that John Thain, a former chief executive officer of Merrill Lynch and more recently CEO of CIT Group Inc., is expected to join Deutsche Bank AG’s supervisory board in May, citing sources with knowledge...
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April 02, 2018, 07:25 AM
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CIT Group Inc. announced CIT Northbridge Credit served as sole lead arranger on a three-year, $20 million senior secured revolving and term loan credit facility for Arkos Field Services LP, a leading provider of aftermarket services to the energy...
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April 02, 2018, 06:55 AM
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CIT Group Inc., in partnership with the nonprofit Operation HOPE, introduced the Launch and Grow video series to empower and educate small business owners. The series features small business owners across the U.S. telling their unique stories and...
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March 30, 2018, 06:30 AM
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CIT Group Inc. announced it has named Sarah L. F. McAvoy to the Corporate Treasurer position, effective March 19. In this role, McAvoy has responsibility for all aspects of treasury, including capital and liquidity management, balance sheet...
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March 14, 2018, 07:20 AM
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CIT Group Inc. announced three additions to its Equipment Finance division's Office Imaging sales team to increase support for office imaging manufacturers and independent dealers."These newly created positions reinforce the success we are...
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March 08, 2018, 07:30 AM
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CIT Group announced the Healthcare Finance team within its Commercial Finance business provided a $175 million senior secured credit facility to QMES LLC, a large distributor of durable medical equipment to patients in seven Mid-Atlantic and...
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March 07, 2018, 07:03 AM
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CIT Group announced that CIT Northbridge Credit served as sole lead arranger on a $25 million revolving line of credit facility provided to Midwest High Reach, one of the premier independent equipment rental companies in the Chicago area. Midwest...
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February 16, 2018, 07:10 AM
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CIT Group today announced that Vince Mollica was named managing director of the Equipment Finance business. In this role, he will lead the Equipment Finance sales organization with responsibility for commercial lending and leasing in the Industrial...
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February 13, 2018, 07:25 AM
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Lease Corporation International (LCI), the leading helicopter lessor and aviation division of the Libra Group, has closed its inaugural capital markets term loan financing, with a value in excess of US$55 million. The private, senior secured tranches...
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February 13, 2018, 07:00 AM
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CIT Group announced that the Corporate Banking unit of its Commercial Finance business arranged for $180 million in financing for HCT Group, a leader in innovative design, engineering and manufacturing of packaging solutions for global beauty...
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February 09, 2018, 07:07 AM
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Banc of California announced it has hired Kris Gagnon as Chief Credit Officer. Gagnon joins Banc of California from CIT Bank, where he served as Chief Credit Officer, and brings considerable expertise as a top tier credit executive in commercial...
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February 08, 2018, 07:30 AM
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CIT Group announced that its Commercial Finance division’s Energy Finance business served as sole lead arranger and administrative agent for $46.5 million in construction-only financing on behalf of Cypress Creek Renewables, a developer and owner of...
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February 08, 2018, 07:10 AM
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CIT Group announced three key additions to the Restaurant Franchise Finance team within its Equipment Finance business to support growth in this part of the industry. "With these appointments, we are continuing to build our Franchise Finance team to...
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February 01, 2018, 07:20 AM
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CIT Group reported a fourth quarter net loss to common shareholders of $98 million or $0.74 per diluted common share, compared to a net loss to common shareholders of $1.1 billion or $5.65 per diluted common share for the year-ago quarter. Loss from...
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January 30, 2018, 07:15 AM
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CIT Group announced leadership updates as the company continues to focus on growth and development of its core business lines. Mike Jones, who previously led the company's Equipment Finance business, was named president of the Business Capital unit...
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January 25, 2018, 07:23 AM
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Epson America and CIT Direct Capital, the national digital small business lending unit of CIT Group, announced a partnership to offer financing for commercial and digital print customers. This partnership will allow CIT Direct Capital to provide...
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January 22, 2018, 07:23 AM
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CIT Group announced that its Commercial Finance unit served as sole lead arranger for a $422 million senior secured loan financing to White Oak Commercial Aviation, LP, an affiliated entity of White Oak Global Advisors, LLC (White Oak) that is wholly...
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January 19, 2018, 07:20 AM
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White Oak Global Advisors, LLC announced it completed a $550 million transaction with GE Capital Aviation Services (“GECAS”) to buy and immediately lease back 20 wide body aircraft engines.To facilitate this transaction, and to strengthen and grow...
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January 19, 2018, 07:19 AM
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OneWest Bank, CIT Group Inc.'s Southern California branch bank, announced it has been named the best bank in California on MONEY's Best Banks in America list. "OneWest Bank is committed to the Southern California community and delivering great...
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October 31, 2017, 06:31 AM
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CIT Group reported third quarter net income of $220 million compared to $131 million for the year-ago quarter. Income from continuing operations for the third quarter was $223 million compared to $94 million in the year-ago quarter. Income from...
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October 24, 2017, 07:16 AM
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CIT Group announced the appointment of Kenneth Caffrey and Michael Cavounis as managing directors of the Sponsor Finance Group. In these positions, Caffrey and Cavounis will facilitate the growth of the Sponsor Finance Group's portfolio. They will...
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October 20, 2017, 07:10 AM
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CIT Group announced that Nicholas Nunnari has joined the Commercial Services team as vice president and business development officer. In this position, Nunnari will advance the team's strategic initiatives and facilitate the continuing expansion of...
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October 19, 2017, 07:09 AM
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CIT Bank, N.A., the bank subsidiary of CIT Group announced that it has reached an agreement to sell its reverse mortgage servicing business, Financial Freedom, and its reverse mortgage portfolio to an undisclosed buyer. The transaction includes the...
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October 09, 2017, 07:18 AM
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CIT Group announced that Marc Adelson has joined the company's Commercial Services business as managing director and Northeast regional manager. In this position, Adelson will manage the largest region for the Commercial Services business and be...
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October 06, 2017, 07:15 AM
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CIT Group announced the expansion of its commercial aircraft lending business. The new Aviation Lending team will be led by Jennifer Villa Tennity who rejoins CIT as president of the business, providing aircraft-backed loans to the commercial...
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October 04, 2017, 07:23 AM
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CIT Group announced two key appointments to their Equipment Finance division in support of industrial market segment growth. Mike Edwards has joined the Business Development team and will be responsible for new finance programs with manufacturers in...
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October 03, 2017, 07:15 AM
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CIT Group announced that Kenneth McPhail has been named executive vice president and chief strategy officer, effective immediately. In this role, he will have responsibility for strategic planning and initiatives, mergers, acquisitions and...
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September 06, 2017, 07:20 AM
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CIT Bank, the banking subsidiary of CIT Group appointed Penny Fine as managing director to lead Business Development for CIT Northbridge Credit LLC (CIT Northbridge), effective immediately. In this role, Fine will be responsible for driving the...
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August 29, 2017, 07:14 AM
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CIT Group announced two key appointments to their Equipment Finance division to support the growth of its industrial market segments. Maurice Smith will cover the Eastern territory and Susan Taldone will cover the Midwest territory of the U.S. Both...
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August 08, 2017, 07:15 AM
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CIT Group reported second quarter net income of $157 million compared to $17 million for the year-ago quarter. Income from continuing operations for the second quarter was $41 million compared to $88 million in the year-ago quarter. Income from...
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July 25, 2017, 07:13 AM
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CIT Bank, the banking subsidiary of CIT Group announced a strategic partnership with Allstate. The joint venture, CIT Northbridge Credit LLC (CIT Northbridge), will provide revolving- and term-loan commitments from $15 million to $100 million to...
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July 11, 2017, 07:20 AM
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CIT Group announced that its Healthcare Finance business provided a $65 million senior secured credit facility to QMES, a large distributor of durable medical equipment to patients in the Northeast. QMES is a portfolio company of Quadrant Management...
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June 02, 2017, 07:16 AM
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CIT Group announced that its Equipment Finance business appointed Harold Ray as director and commercial leader of Industrial Markets, effective immediately. Ray is based in Atlanta, Georgia and serves on the Equipment Finance Management Committee. He...
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May 24, 2017, 07:26 AM
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CIT Group announced that its Direct Capital business, known for its proprietary online lending platform and market-leading customer service, has provided more than $4 billion in equipment financing and working capital loans since its inception in...
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May 05, 2017, 07:14 AM
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CIT Group announced that its Equipment Finance business was recognized recently by Konica Minolta Business Solutions U.S.A., Inc. as receiving the highest Net Promoter Score and the best customer satisfaction performance among its four major leasing...
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April 27, 2017, 07:07 AM
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CIT Group announced financial results for the first quarter ended March 31, 2017.For the quarter ended March 31, 2017, the Company reported net income of $180 million compared to $146 million for the year-ago quarter. Income from continuing...
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April 25, 2017, 07:14 AM
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CIT Group announced that John Fawcett has been named executive vice president and chief financial officer. He will succeed CFO Carol Hayles who has decided to pursue other opportunities. Fawcett will join the company as an advisor on April 17, 2017...
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April 14, 2017, 07:12 AM
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CIT Group announced that it completed the sale of its commercial aircraft leasing business to Avolon Holdings Limited (Avolon), the international aircraft leasing company and wholly-owned subsidiary of Bohai Capital Holding Co. Ltd., for a purchase...
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April 05, 2017, 07:02 AM
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CIT Group announced that it completed the sale of its 30 percent ownership stake in the commercial aircraft leasing joint ventures TC-CIT Aviation Ireland and TC-CIT Aviation U.S., Inc. to its joint venture partner Tokyo Century Corporation (TC). ...
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April 04, 2017, 07:02 AM
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CIT Group announced that its Energy Finance business served as sole lead arranger and administrative agent for a $59.8 million construction and tax equity bridge loan and back-levered term loan facility to GCL New Energy Inc., a U.S. solar...
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March 27, 2017, 07:12 AM
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CIT Group announced that CIT Capital Equipment Financing has added several new members to its team. "We continue to build our team to be a best-in-class originations group in the capital equipment sector," said Eric Miller, group head and managing...
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March 15, 2017, 07:16 AM
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CIT Group announced that it has reached an agreement to sell its 30 percent ownership stake in the commercial aircraft leasing joint ventures TC-CIT Aviation Ireland and TC-CIT Aviation U.S., Inc. to its joint venture partner Tokyo Century...
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March 10, 2017, 07:00 AM
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CIT Healthcare Finance served as joint lead arranger and joint bookrunner for a $275.3 million senior secured credit facility for Blue Wolf Capital Partners, a private equity firm that specializes in middle-market companies. The financing will be...
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March 07, 2017, 07:00 AM
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CIT Group announced that CIT Aerospace finished 2016 on a strong operating note. During the fourth quarter of 2016, CIT Aerospace signed 26 lease agreements for current and future leases of commercial aircraft and delivered 17 aircraft, including new...
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February 28, 2017, 07:03 AM
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For the fourth quarter, CIT reported a net loss of $1.2 billion. Loss from continuing operations for the fourth quarter was $424 million. For the full year 2016, net loss was $861 million. Loss from continuing operations for the full year was $196...
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February 01, 2017, 07:05 AM
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CIT Group announced the appointment of Paul Tufaro as Executive Vice President, Chief Compliance Officer, effective immediately. Tufaro will report to Executive Vice President and Chief Risk Officer Robert Rowe. "Paul's vast experience leading...
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January 18, 2017, 07:30 AM
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CIT Group announced the appointment of Gina Proia as Executive Vice President and Chief Marketing and Communications Officer. Proia will serve on the company’s Executive Management Committee and report directly to Chief Executive Officer Ellen R....
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December 14, 2016, 07:15 AM
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CIT Group announced that Steven T. Mnuchin has resigned from its Board of Directors, effective immediately. His resignation follows President-elect Donald J. Trump’s announced intention to nominate Mnuchin as the next Secretary of the Treasury. “On...
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December 05, 2016, 06:50 AM
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CIT Group appointed Steve Solk as President of CIT Consumer Banking and President, California, effective immediately. This is in addition to his current responsibilities as President of CIT Business Capital and as a member of CIT Group’s Executive...
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December 01, 2016, 07:15 AM
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Mid-market executives are more confident about future growth and are actively pursuing multi-faceted growth strategies in the coming year. These are some of the observations from Jeff Kilrea, Group Head and Managing Director, CIT Sponsor Finance, a...
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November 30, 2016, 07:10 AM
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According to the 8th annual CIT Retail Outlook, 80% of middle market retailers rate their overall financial condition as healthy or very healthy. Many are cautiously optimistic about the upcoming holiday season and the near-term future. Sixty percent...
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November 23, 2016, 07:02 AM
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CIT Group announced that CIT Aerospace, Defense & Government Finance served as sole lead arranger in a $52 million senior secured credit facility to North American Rescue, LLC (NAR), the premier provider of survivability and casualty care medical...
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November 11, 2016, 07:00 AM
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CIT Group announced that CIT Equipment Finance made two key appointments designed to further grow CIT’s Office Imaging dealer relationships in the Southeast and Midwest regions of the United States. The new executives will report to David Gerrard...
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November 10, 2016, 07:15 AM
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CIT Group announced the appointment of Marisa J. Harney as Executive Vice President, Chief Credit Officer, effective immediately. Harney will report directly to Executive Vice President and Chief Risk Officer Robert Rowe. “We are pleased to have...
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November 09, 2016, 07:15 AM
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Middle-market executives remain generally optimistic about the strength of their businesses, with at least 80% foreseeing expansion and diversification over the next twelve months. Though a slight majority (55%) believes their local economy is strong...
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October 27, 2016, 07:10 AM
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CIT Group announced that it has completed the sale of its Canadian equipment finance and corporate finance businesses (CIT Canada), with assets of approximately US $700 million, to Laurentian Bank of Canada. As part of the sale, CIT will transfer...
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October 04, 2016, 07:10 AM
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Given the recent decline in oil prices, the value of new-technology aircraft has been questioned, but this is not warranted. New-technology aircraft create revenue opportunities and reduce operating costs, enabling airlines to build competitive moats...
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September 26, 2016, 07:10 AM
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CIT Group announced that CIT Aerospace, Defense & Government Finance provided a $35 million senior secured credit facility to Mesa Airlines, a provider of regional air service for American Airlines and United Airlines. Mesa Airlines is the...
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September 23, 2016, 07:10 AM
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CIT Group announced that CIT Franchise Finance added four sales professionals to its Mid-Cap Restaurant Franchise Finance group. “These new members of our sales team bring long-standing experience in the restaurant industry as well as exceptional...
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September 22, 2016, 07:10 AM
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CIT Group announced the appointment of Stuart Alderoty as Executive Vice President, General Counsel and Corporate Secretary. Mr. Alderoty will join CIT from HSBC North America Holdings, Inc. where he served as General Counsel since November of 2010....
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September 14, 2016, 07:09 AM
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CIT Group announced the appointment of Michael Jones as Managing Director of CIT Equipment Finance, effective September 25. Jones will be based in Jacksonville, Florida and will report to Steve Solk, President, CIT Business Capital. “I’m excited to...
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September 09, 2016, 07:10 AM
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Reuters reported that Avolon Holdings, part of China's acquisitive HNA Group is nearing a deal to buy the aircraft leasing assets of U.S. lender CIT Group for between $3 billion and $4 billion, people familiar with the matter told Reuters.According...
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September 06, 2016, 07:15 AM
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CIT Group announced that CIT Aerospace signed a total of 39 agreements in the second quarter of 2016 for the current and future leases of commercial aircraft. CIT Aerospace also delivered 26 aircraft, including new and used aircraft and lease...
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August 23, 2016, 07:11 AM
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CIT Group Inc. announced that CIT Commercial Services appointed Darrin Beer as Western Regional Sales and Portfolio Manager. In this role, Beer will lead CIT Commercial Services activities in the Western United States. He will continue to be based in...
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August 12, 2016, 07:39 AM
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CIT Group reported net income of $14 million for the quarter ended June 30, 2016, compared to net income of $115 million for the year-ago quarter. Income from continuing operations for the second quarter was $181 million compared to $115 million in...
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July 28, 2016, 07:09 AM
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U.S. Bank has hired rail industry veteran Mike Keasling to serve as an equipment leasing specialist. Based in Chicago, Keasling joins the bank in a national role focusing on deepening existing and developing new client relationships in the rail...
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July 12, 2016, 07:03 AM
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CIT Group announced that it has filed an initial Form 10 Registration Statement with the U.S. Securities and Exchange Commission (“SEC”) in conjunction with the separation of its commercial aircraft leasing business. As previously stated, CIT...
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July 01, 2016, 07:07 AM
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CIT Group announced that it has reached a definitive agreement to sell its Canadian equipment finance and corporate finance businesses (“CIT Canada”), with more than US $700 million in assets, to Laurentian Bank of Canada. In addition, approximately...
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June 30, 2016, 07:19 AM
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CIT Group announced the launch of a mid-cap restaurant franchise finance practice to complement its successful large and small restaurant franchise financing businesses. “CIT franchise finance has long been recognized as a leading provider of...
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June 16, 2016, 07:05 AM
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Reuters exclusivley reported that CIT Group has kicked off the sale of its aircraft leasing assets by inviting more than a dozen entities to consider bidding, including China's HNA Group, Industrial and Commercial Bank of China's ICBC Leasing, and...
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May 31, 2016, 07:15 AM
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CIT Group announced that CIT Aerospace signed a total of 22 agreements in the first quarter of 2016 for the current and future leases of commercial aircraft. CIT Aerospace delivered 16 aircraft, including new and used aircraft and lease extensions of...
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May 23, 2016, 07:10 AM
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The current state of the capital markets is unclear, with pockets of liquidity and uncertainty with regards to what deals can get done. Nonetheless, the Federal Reserve’s interest rate increase has not had a dramatic effect, and demand for...
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May 13, 2016, 07:06 AM
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CIT Group announced the appointment of Denise M. Menelly as Executive Vice President and Head of Technology and Operations, effective June 29. Raymond Matsumoto, Executive Vice President and Chief Administrative Officer, will serve as the Head of...
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May 04, 2016, 07:05 AM
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CIT Group announced that CIT Capital Equipment Finance made several additional appointments designed to further build a best-in-class team focused on creating tailored capital equipment financing solutions for middle market companies. “These industry...
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May 03, 2016, 07:19 AM
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CIT Group reported net income of $147 million for the first quarter of 2016, compared to net income of $104 million for the year-ago quarter, which reflects results prior to the acquisition of OneWest Bank. Income from continuing operations for the...
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April 28, 2016, 07:05 AM
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CIT Group announced the appointment of John C. Erickson as President of Consumer Banking and President, California, effective immediately. He will serve on the company’s Executive Management Committee and report directly to Chief Executive Officer...
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April 26, 2016, 07:26 AM
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CIT Group announced that CIT Equipment Finance appointed Tom Thomasian as Office Imaging Sales Manager. Thomasian will be responsible for growing revenue and enlarging the dealer network in the Western United States and reports to David Gerrard...
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April 13, 2016, 07:14 AM
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CIT Group announced a financing relationship between CIT Equipment Finance, a leading provider of equipment financing solutions in the United States, and LiuGong North America (LiuGong), a global leader in the manufacturing of heavy construction...
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April 06, 2016, 07:16 AM
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CIT Group today announces its strategic plan designed to drive long-term shareholder value. In connection with today’s strategic update call, CIT is delivering a slide presentation which is available at cit.com/investor. “Today, CIT announces steps...
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March 23, 2016, 07:32 AM
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CIT Group announced several changes to its Board of Directors designed to include additional industry expertise and shareholder representation:
Ellen R. Alemany has been appointed Chairwoman effective after John A. Thain’s retirement as Chairman...
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February 22, 2016, 07:15 AM
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CIT Group announced that CIT Healthcare Finance served as lead arranger for a $190 million senior secured credit facility to help finance the combination of Vertical/Trigen Holdings, LLC (Vertical/Trigen) with Osmotica Holdings Corp Limited...
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February 12, 2016, 07:00 AM
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CIT Group reported net income of $144 million for the fourth quarter of 2015, compared to net income of $251 million for the year-ago quarter. Income from continuing operations for the fourth quarter was $151 million compared to $252 million in the...
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February 02, 2016, 07:24 AM
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CIT Group (NYSE:CIT) announced the appointment of Marc Heller as President of CIT Commercial Services, effective February 1, 2016, following the retirement of current CIT Commercial Services President Jon Lucas on January 31, 2016. Heller will report...
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January 07, 2016, 07:15 AM
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CIT Group announced that CIT Equipment Finance has entered into a program agreement with SANY America (SANY), a global manufacturer and seller of construction and material-handling equipment. As the preferred provider of financing for SANY, CIT will...
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December 28, 2015, 07:00 AM
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CIT Group announced the following senior management appointments: Ellen R. Alemany has been appointed Chief Executive Officer and President of CIT Bank, N.A. effective immediately. Alemany is Vice Chairman of CIT Group and, as previously announced...
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December 09, 2015, 07:20 AM
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CIT Group reported net income of $693 million for the quarter ended September 30, 2015, compared to net income of $515 million for the year-ago quarter. Income from continuing operations was $697 million compared to $515 million in the year-ago...
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November 03, 2015, 07:14 AM
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Despite the explosion of big data throughout Corporate America, middle market executives are judging the state of the economy based on personal experience and observation more than economic indicators. Approximately three in five executives say the...
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October 30, 2015, 07:12 AM
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The Board of Directors of CIT Group Inc. (NYSE:CIT), announced that Chief Executive Officer John A. Thain will retire effective March 31, 2016, and will continue to serve as Chairman of the Board of Directors, and that CIT Board Member Ellen R....
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October 22, 2015, 07:15 AM
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CIT Group announced a series of strategic initiatives that are designed to advance the Company’s transition to a U.S. Commercial Bank. The Company announced that it would explore strategic alternatives for its $10 billion Commercial Air business, and...
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October 22, 2015, 07:10 AM
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CIT Group announced that Scott T. Parker, Executive Vice President and Chief Financial Officer, will leave the Company in November to serve as Executive Vice President and Chief Financial Officer of Springleaf Holdings, Inc. (NYSE: LEAF). John A....
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October 20, 2015, 07:08 AM
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CIT Group announced that CIT Retail & Restaurant Finance served as Sole Lead Arranger in a senior secured credit facility to Bertucci’s Corporation (Bertucci’s), an owner and operator of Italian casual dining restaurants with locations from New...
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October 20, 2015, 07:00 AM
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Growth in the U.S. furniture industry continues to outpace the U.S. economy, due in large part to strong performances in bedroom and dining room furnishing sales. While housing continues to improve and discretionary spending increases, the sector...
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October 16, 2015, 07:00 AM
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While the global airline industry is in the midst of a relative boon, industry insiders see headwinds ahead posed by a convergence of rising rates and oil prices, and changes to the competitive landscape, according to Steve Mason, Vice President of...
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October 05, 2015, 06:58 AM
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The global airline industry currently has access to an abundance of fragmented capital, but there may not be an equal abundance of market awareness to adapt to potential changes in market conditions. This fragmentation has served the industry well...
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September 29, 2015, 07:05 AM
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CIT Group Inc. (NYSE:CIT) announced the appointment of Louis Barone as Managing Director, Northeast Regional Sales Manager of CIT Commercial Services, a leading provider of factoring services in the United States. He will report directly to Marc...
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September 28, 2015, 07:07 AM
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Today’s market is saturated with capital equipment investment dollars from lenders that may not have expertise in the specific sectors in which they’re lending. And while the access to capital is a boon from a low interest rate perspective, the lack...
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September 18, 2015, 07:15 AM
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CIT Group announced that CIT Healthcare Finance served as Sole Lead Arranger and Administrative Agent in a $26.5 million senior secured credit facility to support the recapitalization of PharmaLogic and the acquisition of Clinical Pharmacy Services...
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September 16, 2015, 07:00 AM
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CIT Group announced a joint venture with funds managed by TPG Special Situations Partners (TSSP), the dedicated special situations and credit platform with over $12 billion of assets under management, and part of TPG, a leading global private...
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August 27, 2015, 07:10 AM
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CIT Group announced that CIT Maritime Finance provided a $61 million senior secured credit facility to Advantage Tankers, LLC, a Marshall Islands-based holding company established to acquire an operating fleet of crude tankers. The facility supports...
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August 21, 2015, 06:46 AM
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CIT Group announced that it has completed its previously announced acquisition of IMB Holdco LLC, the parent company of OneWest Bank N.A. (OneWest Bank) for approximately $3.4 billion in cash and stock. The transaction, first announced on July 22...
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August 04, 2015, 07:05 AM
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CIT Group reported net income of $115 million for the quarter ended June 30, 2015, compared to net income of $247 million for the second quarter of 2014. Net income for the six month period ended June 30, 2015 was $219 million compared to $364...
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July 28, 2015, 07:17 AM
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CIT Group announced that its Livingston-based employees and vendors collected more than 44 tons (88,000 pounds) of food as part of its company-wide 2015 Shared Harvest Food Drive Initiative. The amount, which equates to more than 72,500 meals...
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June 17, 2015, 06:18 AM
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Bloomberg reported that Bank of America Corp. hired Jeffrey Peek, who ran commercial lender CIT Group Inc. for six years, as an executive vice chairman in the global investment bank.Bloomberg reported Peek, most recently a vice chairman at Barclays...
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June 08, 2015, 07:06 AM
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CIT Group announced the appointment of Rob Seltzer as Managing Director of CIT Capital Equipment Finance, a leading provider of commercial equipment finance solutions for middle market companies in a wide range of industries. Seltzer will be...
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May 14, 2015, 07:05 AM
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Ryder System, Inc. announced that it is making it easier than ever for customers to finance quality pre-owned vehicles. The Company recently extended its U.S. preferred lender agreement with CIT Group Inc. to now include Ryder customers in...
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May 05, 2015, 07:10 AM
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CIT Group reported net income of $104 million for the quarter ended March 31, 2015, compared to net income of $117 million for the first quarter of 2014. First quarter results were impacted by a higher tax provision resulting from the recognition of...
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April 28, 2015, 07:01 AM
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CIT Group announced the appointment of Eric Miller as Managing Director and Group Head of CIT Capital Equipment Finance. He will report directly to Burt Feinberg, President and Group Head of CIT Corporate Finance, Commercial & Industrial. “Eric is...
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March 25, 2015, 07:10 AM
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CIT Commercial Air, a segment of CIT Aerospace, a global leader in aircraft finance, announced several key promotions within its Financial Institutions Group.John Morabito, Managing Director and Head of the Financial Institutions Group, said, "We are...
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March 04, 2015, 07:00 AM
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As the economic recovery gains speed, the consumer electronics and furniture sectors of the retail industry can look forward to growth in 2015, while the apparel sector faces a more mixed outlook. These insights and more are shared by three CIT...
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February 19, 2015, 06:52 AM
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CIT Group announced that CIT Capital Equipment Finance provided a $23.5 million credit facility to GCT Global Container Terminals Inc. (GCT) to purchase two new Liebherr P203L (WS) post-Panamax ship-to-shore gantry cranes that will be used at its...
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February 18, 2015, 07:00 AM
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According to a press release from the California Reinvestment Coalition, California community advocates, along with the Daily Kos, delivered over 15,000 petitions to the Federal Reserve, setting a new record for the number of individuals opposing a...
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February 04, 2015, 07:18 AM
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The long-awaited recovery of business jet deliveries in North America, the largest market in the world, is underway. The engine for this growth is the United States, which historically has constituted more than half of yearly new deliveries. As the U...
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February 04, 2015, 07:08 AM
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CIT Group reported net income of $251 million for the fourth quarter of 2014, compared to net income of $130 million for the year-ago quarter. Income from continuing operations for the fourth quarter was $252 million compared to $123 million in the...
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January 27, 2015, 07:19 AM
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CIT Group announced that CIT Capital Equipment Finance served as Lead Agent in a $76 million senior secured credit facility to Construction Partners, Inc., a leading infrastructure and road construction company in the Southern United States....
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January 21, 2015, 06:00 AM
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Although lingering effects of the slow global economic recovery can still be felt on the maritime industry, the sector continues to slowly improve. Bright spots include the increased demand for maritime transportation of crude oil, so much so that...
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January 15, 2015, 07:00 AM
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GSG Financial announced the appointment of Managing Director Paul Christensen. He will be responsible for new business originations focusing on diversified industrial and technology equipment sourced through manufacturers, value added resellers and...
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January 13, 2015, 06:57 AM
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CIT Commercial Services, a leading provider of factoring services, and a unit of CIT Group launched “CIT CIS Mobile,” (cit.com/getCISMobile) a mobile app designed to bring the functionality of CIT Commercial Services’ Client Information System (CIS)...
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January 08, 2015, 07:05 AM
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CIT Group announced that it served as Lead Arranger in a $55.5 million senior secured credit facility to T5@Portland, a subsidiary of T5 Data Centers, LLC, an owner and operator of server-ready single and multi-tenant data centers across North...
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December 23, 2014, 06:30 AM
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CIT Group launched CIT Point of View (cit.com/pov), a new weekly corporate blog that will offer commentary and perspectives on current trends and issues affecting the small business, middle market and transportation sectors. Blog posts in CIT Point...
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December 12, 2014, 07:06 AM
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Fitch Ratings has assigned 'BB+/B' long- and short-term IDRs to CIT Group, Inc. (CIT) and CIT Bank. The Rating Outlook is Stable. KEY RATING DRIVERS - IDRs, VRs, Senior Debt and Revolving Credit Facility The IDRs and Viability Ratings (VRs) reflect...
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December 05, 2014, 06:58 AM
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CIT Group Inc. announced that CIT Aerospace has signed purchase agreements with Airbus for 15 A330-900neo (new engine option) aircraft and five A321-200ceo (current engine option) aircraft. Deliveries of the A330-900neo are scheduled to begin in 2018...
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December 04, 2014, 06:15 AM
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CIT Bank, the U.S. commercial bank subsidiary of CIT Group announced that it closed a $750 million equipment lease securitization. CIT sold five classes of fixed rate notes in a private offering backed by a pool of equipment leases from CIT Equipment...
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December 01, 2014, 06:59 AM
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An annual retail outlook study of more than 250 senior middle market retail executives conducted by CIT Group found cautious optimism among respondents. Fifty-five percent of executives anticipate their total holiday sales will increase by 6% or more...
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November 21, 2014, 07:02 AM
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CIT Group announced that CIT Maritime Finance provided a $24.1 million senior secured credit facility to Blue Wall Shipping Limited, an investment holding company. The facility supports the purchase of dry bulk carriers in the Handysize and Supramax...
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November 20, 2014, 07:01 AM
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Citizens Financial Group named Marc Paulhus, Head of Asset Finance for Citizens Commercial Banking, as Citizens Bank Rhode Island President. Paulhus, a Rhode Island native with degrees from Providence College and the University of Rhode Island, has...
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November 19, 2014, 07:10 AM
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CIT Group announced that it served as Joint Lead Arranger in a $225 million senior secured credit facility for Clearlake Capital Group (Clearlake Capital), a private investment firm, to acquire AmQuip Crane Rental (AmQuip), one of the largest lifting...
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November 18, 2014, 07:05 AM
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Capital markets activity continues to accelerate, as the likelihood of rising interest rates looms in the near future, which means now is the ideal time for borrowers to explore interest rate hedges. These insights and others are shared by Neil...
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November 13, 2014, 07:00 AM
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The fast casual segment remains the top performer in the restaurant sector, and will continue to lead activity and change. The segment, typified by the likes of Chipotle, Noodles & Company and Zoe’s Kitchen, is providing offerings that are consistent...
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November 07, 2014, 07:00 AM
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CIT Group announced that CIT Maritime Finance provided $64 million in senior secured credit facilities to Tanker Solutions III, LLC, a joint venture between Prime Tanker Management (Prime) and funds managed by Castlelake, L.P. The facilities support...
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November 04, 2014, 07:00 AM
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CIT Business Aircraft Finance released several key announcements regarding new and existing team members who are assuming new roles in the organization.
Ron Walls joined as Vice President, Equipment Management. In this role, he is responsible for...
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October 31, 2014, 07:00 AM
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Middle market executives have a positive outlook for their businesses with nearly two-thirds (63%) indicating that their companies are better off today than last year, while 62% expect the size of their workforce to increase in the coming year. These...
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October 30, 2014, 07:04 AM
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CIT Group reported net income of $515 million for the third quarter of 2014, compared to net income of $200 million for the year-ago quarter. Income from continuing operations for the third quarter was $515 million compared to $193 million in the...
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October 28, 2014, 07:00 AM
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CIT Group Inc. announced that CIT Maritime Finance provided a $31.8 million senior secured credit facility to Epic Gas Ltd. to acquire two pressurized liquefied petroleum gas (LPG) tankers on the secondary market. Headquartered in Singapore, Epic Gas...
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October 16, 2014, 06:45 AM
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For middle market companies in the energy sector, opportunities for growth are abundant due to an increase in U.S. gas and oil production. Companies providing supporting services, such as technology and equipment to more economically and efficiently...
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October 15, 2014, 06:55 AM
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CIT Group today announced that it has agreed to form TC-CIT Aviation Ireland and TC-CIT Aviation U.S. (together TC-CIT Aviation), joint ventures between CIT Aerospace, a global leader in aircraft finance, and Century Tokyo Leasing Corporation (“CTL”)...
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October 10, 2014, 07:04 AM
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CIT Group announced that it provided financing to Wakefern Food Corp., the largest supermarket cooperative in the United States. Wakefern is the principal supplier of food and non-food products to member-owned supermarkets that trade under the...
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October 09, 2014, 06:54 AM
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CIT Group announced that it served as Joint Lead Arranger and Administrative Agent in a $325 million senior secured credit facility to LCI Helicopters (LCIH), the helicopter leasing subsidiary of Lease Corporation International. The facility will be...
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October 02, 2014, 05:00 AM
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CIT Group Inc. released the next installment in its CIT: Behind the Deal (cit.com/solarize) series of client case studies that showcase how the lending, leasing, and advisory expertise of CIT executives has helped their clients achieve success. This...
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September 25, 2014, 06:00 AM
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CIT Group announced the launch of View from the Middle™ (VftM), its rebranded content marketing program that will offer business insights and trends, specific industry expertise and content of value to executives in companies of all sizes.Insights...
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September 24, 2014, 06:14 AM
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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...
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August 19, 2014, 06:24 AM
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CIT Bank, the U.S. commercial bank subsidiary of CIT Group Inc. announced that it has completed its acquisition of Portsmouth, New Hampshire-based Direct Capital Corporation, a provider of financing to small and mid-sized businesses. “We are very...
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August 05, 2014, 07:00 AM
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CIT Group announced that CIT Aerospace provided a $27 million senior secured credit facility to Virgo Investment Group LLC, a private investment management firm, to finance its acquisition of four Boeing 737-700 aircraft leased to GOL, an airline...
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July 31, 2014, 06:00 AM
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CIT Group announced that CIT Aerospace signed a total of 35 agreements in the second quarter of 2014 for the current and future leases of commercial aircraft. CIT Aerospace delivered 37 aircraft, including new and used aircraft and lease extensions...
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July 30, 2014, 06:17 AM
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CIT Group announced that it provided a senior secured credit facility to support Rosser Capital Partners’ significant investment in PetPeople, a specialty retail pet supply store that focuses on high quality, natural pet food. Financing was provided...
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July 29, 2014, 05:53 AM
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According to a Bloomberg report, CIT Group will provide Steven T. Mnuchin, the chairman of OneWest Bank's parent IMB Holdco, LLC, an annual target compensation package of $4.5 million. Bloomberg reports that Mnuchin will get a salary of at least $750...
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July 28, 2014, 07:06 AM
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CIT Group today announced that it has entered into a definitive agreement and plan of merger with IMB Holdco LLC, the parent company of OneWest Bank N.A. (“OneWest Bank”), for $3.4 billion in cash and stock. OneWest Bank is a privately owned regional...
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July 22, 2014, 07:15 AM
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CIT Group Inc. reported net income of $247 million for the second quarter of 2014, compared to net income of $184 million for the year-ago quarter. During the quarter, the company completed the sale of the $3.3 billion Student Loan portfolio along...
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July 22, 2014, 07:00 AM
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CIT Group announced from the Farnborough International Air Show that CIT Aerospace has placed an order with Boeing for 10 787-9 Dreamliner aircraft. “CIT is one of the leading companies in global transportation finance and clearly recognizes the...
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July 16, 2014, 06:00 AM
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CIT Group announced from the Farnborough International Air Show that CIT Aerospace has signed memorandums of understanding with Airbus for 15 A330-900neo (new engine option) aircraft and five A321-200ceo (current engine option) aircraft. Deliveries...
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July 15, 2014, 06:00 AM
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Usage of mobile and broadband Internet bandwidth is growing exponentially, creating new opportunities — and challenges — for cell carriers and network service providers, according to Tom Westdyk, Group Head and Managing Director, CIT Corporate...
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July 09, 2014, 06:23 AM
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CIT Bank, the U.S. commercial bank subsidiary of CIT Group Inc. entered into an agreement to acquire Portsmouth, New Hampshire-based Direct Capital Corporation, a provider of financing to small and mid-sized businesses. The transaction will expand...
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June 25, 2014, 07:00 AM
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Commercial lending expert Patrick McMullan has launched ALCS Capital to provide business owners with alternative sources for the capital they need to grow or run their businesses. ALCS leverages Mr. McMullan's 25 years of industry experience and...
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June 17, 2014, 07:00 AM
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CIT Group Inc. announced that CIT Corporate Finance arranged a $125 million senior secured credit facility for Independence Contract Drilling (ICD), an integrated premium land drilling services provider with a fleet of ShaleDriller™ land drilling...
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June 04, 2014, 06:30 AM
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CIT Group Inc. announced that CIT Rail, a full service lessor and owner of one of the youngest, most diversified fleets of rail assets in North America and Europe, appointed Ken Pierson as Senior Vice President and General Manager, Locomotives. He...
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June 03, 2014, 06:46 AM
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CIT Group Inc. announced that CIT Maritime Finance, with the assistance of RS Platou Finans, completed a $49 million financing through a bareboat charter arrangement with Grieg Shipping II AS, a subsidiary of the Grieg Star Group AS (Grieg Star), the...
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May 22, 2014, 06:00 AM
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Century Tokyo Leasing (USA) Inc. has hired Shawn Arnone as Senior Vice President & Chief Originations Officer. In this role, Shawn will lead an expanded effort to provide funding support to captive finance organizations, vendors and bank partners in...
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May 20, 2014, 07:00 AM
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CIT Canada announced its sponsorship of Green4Good, an IT asset re-use and recycling program initiated and operated by Compugen Finance Inc., a wholly owned subsidiary of Compugen Inc.“CIT is pleased to sponsor Green4Good and support the exceptional...
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May 19, 2014, 06:00 AM
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After several years of slow growth, middle market furniture executives are feeling more optimistic about the future of their sector. According to Jon Lucas, President of CIT Commercial Services, and Mike Hudgens, Southeast Regional Manager of CIT...
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May 13, 2014, 06:17 AM
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Washington Federal has named Michael Brown as Arizona Regional President, announced Roy Whitehead, Washington Federal’s Chairman, President and CEO. In his new role, Brown will be responsible for all Company operations and activity throughout the...
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May 01, 2014, 07:03 AM
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CIT Group today reported net income of $109 million for the quarter ended March 31, 2014, compared to net income of $163 million for the first quarter of 2013. First quarter results were primarily impacted by lower levels of interest income, higher...
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April 29, 2014, 06:58 AM
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CIT Group announced that CIT Maritime Finance provided a $55 million senior secured credit facility to Tanker Solutions LLC, a joint venture between Prime Tanker Management and Castlelake, L.P. The facility supports the purchase of a fleet of four...
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April 09, 2014, 06:00 AM
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CIT Group announced that CIT Corporate Finance, Healthcare served as Sole Lead Arranger in a $50 million senior secured credit facility for QMES, a distributor of durable medical equipment to patients in nine states. QMES is a portfolio company of...
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April 08, 2014, 05:27 AM
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CIT Canada announced that it provided $8 million in franchise financing to the BLCO Group, one of the largest multi-unit Kentucky Fried Chicken (KFC) franchisees in Canada. The franchise financing will be used to refinance debt and for capital...
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April 07, 2014, 06:30 AM
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CIT Group announced that it served as Joint Lead Arranger in a $450 million senior secured credit facility for YRC Worldwide, one of the largest less-than-truckload (LTL) operators in North America. LTL carriers collect freight from various shippers...
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April 02, 2014, 07:00 AM
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CIT Canada announced that it has provided financing to Silvercreek Solar Park, Inc., which will utilize Ontario-made Canadian Solar modules for a ground-mounted utility-scale solar power plant in Elgin County. This is Silvercreek’s first utility...
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March 27, 2014, 06:00 AM
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CIT Group announced that CIT Maritime Finance provided a $46.4 million senior secured credit facility to Epic Gas Ltd. (“Epic Gas”). Headquartered in Singapore, Epic Gas owns and operates a fleet of seaborne gas carriers to transport liquefied...
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March 26, 2014, 06:15 AM
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CIT Group appointed William Douglass Group Head and Managing Director of CIT Corporate Finance, Healthcare, effective immediately. He previously served as Underwriting Manager for the Group where he was responsible for overseeing the transaction...
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March 25, 2014, 06:49 AM
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A maturing small twin-aisle aircraft market presents challenges and opportunities for Airbus as it considers the future of its A330 aircraft, according to Steve Mason, Vice President of Aircraft Analysis, CIT Aerospace at CIT Group. These views and...
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March 18, 2014, 06:04 AM
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The airline industry, and with it, air traffic, is expected to increase in 2014, with Asia and Latin America representing the fastest growing markets, according to Tony Diaz, President of CIT Aerospace at CIT Group. These views and others are...
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March 13, 2014, 06:42 AM
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CIT Group announced that it arranged a $43 million senior secured credit facility for Laney Directional Drilling, Co., a portfolio company of Chart Capital Partners. The financing will be used to refinance an existing facility and provide additional...
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March 06, 2014, 07:00 AM
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The demand for lending in the middle market is robust, according to Jeff Kilrea, Co-Head and Managing Director of CIT Sponsor Finance at CIT Group, Inc. These views and others are presented in the “2014 Middle Market Private Equity Outlook”, the...
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March 04, 2014, 06:50 AM
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The uncertainty surrounding the federal budget last year resulted in a delay in hiring and large capital equipment purchases among many middle market companies, according to Vince Belcastro, Managing Director and Group Head of CIT Capital Equipment...
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February 19, 2014, 06:58 AM
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Critical sectors of the U.S. economy should see continued or renewed strength in 2014, according to business leaders at CIT Group. Bob Bielinski, Managing Director, CIT Corporate Finance, Retail and Restaurants; Matthew Galligan, President, CIT Real...
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February 06, 2014, 06:45 AM
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CIT Group today announced the acquisition of Paris-based Nacco SAS (Nacco), one of the largest independent full service railcar lessors in Europe. Nacco owns more than 9,500 railcars and services over 150 customers in 16 countries. Dan DiStefano...
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February 03, 2014, 06:45 AM
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CIT Group today reported net income of $130 million for the fourth quarter of 2013, compared to net income of $207 million for the fourth quarter of 2012. Net income for the year ended December 31, 2013 was $676 million compared to a net loss of $592...
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January 28, 2014, 07:05 AM
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CIT Group announced that Ellen R. Alemany has been named to CIT’s Board of Directors effective immediately. She will serve as a member of CIT’s Audit Committee. Alemany is the former Head of The Royal Bank of Scotland (RBS) Americas, the management...
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January 22, 2014, 06:42 AM
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Research and Markets has announced the addition of the "United States Equipment Finance Market Forecasts Report, 2016" report to their offering. One of the major drivers in this market is the improving Credit market conditions in the market, which...
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January 09, 2014, 06:15 AM
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Despite ongoing challenges facing the retail sector and the economy, more than 70% of middle market housewares executives are forecasting stronger sales performance in 2014, according to a recent survey (cit.com/housewaresoutlook) by CIT Group Inc....
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December 06, 2013, 06:28 AM
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CIT Group announced CIT Corporate Finance served as Sole Lead Arranger in a $110 million senior secured facility for Epic Health Services, a leading provider of pediatric home health and therapy services as well as adult in-home services. Epic Health...
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November 20, 2013, 06:35 AM
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CIT Bank, the U.S. bank subsidiary of CIT Group Inc. announced that it closed a $750 million equipment lease securitization. CIT sold five classes of fixed rate notes in a private offering backed by a pool of equipment leases from CIT Vendor Finance....
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November 15, 2013, 08:09 AM
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The preservation of capital that can be used to invest in other business activities is one of the top benefits of equipment leasing for small and middle market businesses, according to Nick Small, Managing Director of CIT Vendor Finance, U.S., part...
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November 12, 2013, 06:45 AM
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Companies are planning to increase their investment in equipment in the coming year according to a new report released by Infinity Research. As a result, a majority of them would be depending on different sources of finance such as leasing, loans...
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November 11, 2013, 06:30 AM
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The Leasing Foundation Future Leaders - a group of 9 exceptional people who have been nominated by Governors and Fellows as the brightest new talent in the industry - are starting their development program with the first meetings hosted by CHP...
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November 01, 2013, 06:29 AM
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CIT Group Inc. today reported net income of $200 million for the third quarter of 2013, compared to a net loss of $299 million for the third quarter of 2012. Net income for the nine month period ended September 30, 2013 was $546 million compared to a...
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October 22, 2013, 07:04 AM
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CIT Group announced that CIT Maritime Finance has entered into a Cooperation Agreement with RS Platou Finans AS that will help CIT Maritime Finance expand into the leasing market. “Through this agreement CIT Maritime Finance will have access to the...
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October 17, 2013, 07:00 AM
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CIT Vendor Finance annonced the launch of FlexAbility, a new suite of products that address the financial, operational and go-to-market challenges facing small and middle market companies that offer complex sales and pricing structures (e.g. managed...
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October 16, 2013, 06:59 AM
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Middle market executives, whose companies take in more than $6 trillion in revenues and employ more than 30 million people annually, are expressing renewed optimism in their business prospects compared to a year ago. However, despite this positive...
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October 09, 2013, 06:54 AM
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CIT Group announced that CIT Maritime Finance provided a $83.7 million senior secured credit facility to PST Tankers LLC, to finance the acquisition of a fleet of eight product tankers managed by Product Shipping & Trading S.A., a company controlled...
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October 03, 2013, 06:50 AM
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CIT Group announced that it arranged a $36 million senior secured credit facility to Punta Lima LLC, owner of the Punta Lima Wind Farm in Puerto Rico. The financing was structured through a sale and leaseback of the facility between Sovereign Bank, N...
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September 26, 2013, 07:19 AM
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Transportation companies linked to commercial aviation continue to deliver strong results, while those tied to defense face additional challenges, according to Chris Cantwell, Managing Director and Group Head of CIT Transportation Lending at CIT...
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September 24, 2013, 07:00 AM
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While middle market executives report moving full steam ahead with transitions to cloud-based systems, many organizations face unexpected hurdles that prevent the Cloud from fully delivering on its promises. Cloud-based systems and services, which...
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September 19, 2013, 07:02 AM
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CIT Group announced that it arranged a $100 million senior secured credit facility for AWCC Holdings LLC, a subsidiary of American Wind Capital, to acquire a portfolio of land leases and lease royalties from solar projects from Hawaii to New York....
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September 18, 2013, 07:00 AM
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CIT Group Inc. announced the appointment of Israel “Izzy” Kaufman as Executive Vice President, Treasurer effective immediately. He will report directly to Chief Financial Officer Scott T. Parker. Mr. Parker said, “Izzy’s broad corporate experience...
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September 17, 2013, 07:03 AM
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Large and middle market restaurant companies, as well as franchisees of top-tier brands, have ready access to capital, but franchisees of smaller brands are finding it more challenging to secure debt financing, according to Bob Bielinski, Managing...
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September 17, 2013, 06:49 AM
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The capital markets are eager to provide liquidity to middle market companies in growing sectors of the economy, according to Neil Wessan, Group Head of CIT Capital Markets at CIT Group Inc.. This view, and others, are presented in “Capital Markets...
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September 10, 2013, 06:28 AM
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According to transportation executives, the forecasts and business strategies of carriers and manufacturers of transport-oriented capital goods indicate the industry is bracing for an era of higher energy prices and increased regulations. These are...
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August 22, 2013, 07:00 AM
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CIT Group announced that CIT Maritime Finance provided a senior secured credit facility to Tanker Solutions, a joint venture between funds managed by TPG Credit Management and Prime Tanker Management. The financing supports the purchase of the M/T...
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August 15, 2013, 06:41 AM
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CIT Group Inc. announced that CIT Maritime Finance provided a $61.8 million senior secured credit facility to a portfolio company of Alterna Capital Partners, a private equity firm based in Wilton, CT, to finance the acquisition of three 50,000 DWT...
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August 08, 2013, 07:00 AM
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The Canadian financing and leasing industry is seeing continued growth with new opportunities on the horizon, according to Blake Macaskill, Managing Director of CIT Canada at CIT Group Inc. This view and others, are presented in “Equipment Financing...
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August 07, 2013, 07:02 AM
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CIT Vendor Finance announced that it was named a preferred leasing provider of Konica Minolta Business Solutions (KMBS), a leader in advanced document management technologies, application solutions and IT Services, in Canada. CIT Vendor Finance is...
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August 02, 2013, 07:06 AM
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CIT Group announced the appointment of Randall (Randy) Chesler as President of CIT Bank, its U.S. commercial bank subsidiary. He will be based in Salt Lake City, Utah, and report to CIT Bank’s Board of Directors. Mr. Chesler is currently Vice...
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July 29, 2013, 07:06 AM
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CIT Group Inc. reported net income of $184 million for the second quarter of 2013, compared to a net loss of $73 million for the second quarter of 2012. Net income for the six month period ended June 30, 2013 was $346 million, compared to a net loss...
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July 23, 2013, 07:04 AM
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CIT Group Inc. announced the company’s success in collecting more than 30 tons of food for the Interfaith Food Pantry, a Morris Plains, NJ-based organization that helps feed local families. The Livingston-based employee food drive is part of CIT’s...
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June 14, 2013, 06:56 AM
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Bloomberg reports that CIT may have become a more attractive takeover target now that the Federal Reserve Bank of New York lifted sanctions against the company that had restricted dividends, buybacks, severance payments and hiring since 2009. The...
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June 04, 2013, 07:03 AM
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CIT Group announced that it received notice from the Federal Reserve Bank of New York (the FRBNY) that the Written Agreement, dated August 12, 2009, between CIT and the FRBNY has been terminated. To view the entire Written Agreement between CIT and...
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May 31, 2013, 07:05 AM
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With less competition in the market and a high demand for refinancing, the perfect time to be in the maritime finance business is right now, according to Svein Engh, Group Head and Managing Director of CIT Maritime Finance at CIT Group. These issues...
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May 30, 2013, 07:10 AM
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CIT Group Inc. announced that it relocated its Mexico office to Mexico City’s district of Santa Fe, as it looks to increase its market share and take advantage of the growth opportunities in the Mexican equipment financing market. The 1,470 square...
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May 24, 2013, 01:00 PM
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GB Credit Partners, the investment management affiliate of Gordon Brothers Group, announced that they have provided a $15 million second lien equipment term loan to Dana Transport, Inc. Dana Transport, Inc. is an industry leading chemical and fuel...
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May 23, 2013, 07:05 AM
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Annaly Capital Management, Inc. announced that Glenn Votek has been appointed its Chief Administrative Officer. Mr. Votek brings over 20 years of financial and operational experience to Annaly with particular expertise in risk management, capital...
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May 21, 2013, 07:12 AM
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Middle market healthcare executives are focused on growing their businesses through acquisitions and investment, despite views of overregulation, a tepid economy and a major decline in approval of the Affordable Care Act, according to an exclusive...
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May 21, 2013, 07:10 AM
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CIT Aerospace announced that it delivered nine aircraft and signed 28 lease agreements in the first quarter of 2013. The deliveries include new and used aircraft, as well as lease extensions of its existing fleet, while the lease agreements include...
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April 30, 2013, 06:54 AM
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CIT Group announced that Todd Harrington has been named Northeast Regional Sales Manager of CIT Trade Finance. He reports to Marc Heller, Northeast Regional Manager and International Manager of CIT Trade Finance. “Todd is an asset to our team as we...
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April 29, 2013, 07:00 AM
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CIT Group reported net income of $163 million, $0.81 per diluted share, for the first quarter of 2013, compared to a net loss of $427 million, ($2.13) per diluted share, for the first quarter of 2012. The loss in the year-ago quarter was primarily...
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April 23, 2013, 07:17 AM
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In an exclusive interview featured on Bloomberg, Element Financial's Chief Executive Officer Steve Hudson said selling repackaged leases to life insurance companies helped his Canadian firm avoid the “financial market heroin” that almost ruined his...
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April 11, 2013, 07:14 AM
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CIT Vendor Finance announced the appointments of Michael Fox as Sales Director for Transportation and Construction and Michael Oksiutik as Associate Director for Business Development. Fox will be responsible for leading sales activities and achieving...
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April 03, 2013, 07:15 AM
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Commercial real estate markets on either coast are outperforming assets in the mid-U.S. because they are home to gateway cities that trade with Asia and Europe. The hottest of these markets right now is the New York metropolitan area, as it’s...
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March 28, 2013, 07:05 AM
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NewStar Financial announced that it has hired veteran credit risk manager Dan McCready as Chief Credit Officer. Mr. McCready joins NewStar from CIT Group where he was Chief Credit Officer of CIT Corporate Finance. He has nearly 30 years of experience...
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March 26, 2013, 07:25 AM
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CIT Group announced that its Livingston-based employees have donated more than 30 tons (60,000 pounds) of food as part of its inaugural company-wide global initiative to fight hunger. The food will be donated to Morris Plains, NJ-based Interfaith...
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March 21, 2013, 07:00 AM
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According to Mike Lorusso, Group Head of CIT Energy at CIT Group, due to the attractive growth potential for developing shale and conventional oil & gas resources, the 2013 M&A market should be active. Larusso says to expect modest to high activity...
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March 05, 2013, 07:23 AM
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LEAF Commercial Capital, Inc. (“LEAF”)announced that Gina Downing has joined the organization as the new Regional Sales Manager for the Southwest sales region. She brings many years of leasing experience to LEAF with an emphasis on office products...
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February 26, 2013, 07:23 AM
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CIT Group announced that it arranged a $50 million senior secured term loan to Avenel, NJ-based Dana Transport, one of the transport industry’s leading carriers and servicing companies. CIT Capital Equipment Finance served as Lead Arranger, Sole Book...
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February 05, 2013, 07:15 AM
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CIT Group today reported net income of $207 million for the fourth quarter of 2012, improved from $36 million for the year-ago quarter. The current period includes net charges of $83 million related to the redemption of student loan asset-backed...
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January 29, 2013, 07:25 AM
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CIT Group announced that it has provided an equipment based revolving line of credit to BAUER-Pileco, Inc., a U.S. subsidiary of BAUER Aktiengesellschaft (BAUER AG). Financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT. ...
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January 17, 2013, 07:25 AM
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CIT Group announced that it has agreed to acquire a commercial loan portfolio from Flagstar Bank (FSB), a wholly-owned subsidiary of Flagstar Bancorp, Inc.Under the terms of the agreement, CIT Bank, the U.S. commercial bank subsidiary of CIT, will...
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January 03, 2013, 07:59 AM
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Private equity firms are racing to beat the fiscal cliff and have increasingly accessed the debt markets this year as readily available capital has allowed them to refinance and recapitalize their portfolio companies, so much so that it’s driving...
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December 14, 2012, 07:11 AM
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According to the research study “Taking Stock in Tough Times: U.S. Retail Sector Outlook,” produced by CIT Group with Forbes Insights, more than a third (37%) of middle market retail executives believe their holiday sales will increase over 2011...
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November 15, 2012, 07:00 AM
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CIT Group announced the launch of CIT Maritime Finance, which will originate and underwrite blue water vessel financing. In connection with this announcement, Svein Engh was appointed Managing Director and Group Head of the business and will report...
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November 14, 2012, 07:19 AM
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The gaming industry isn’t as recession-proof as many expected and experienced wide-scale expansion since the last economic downturn, but this year it has seen significant market activity and continued growth is expected according to Steve Epperly...
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October 10, 2012, 07:09 AM
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Slow economic growth and continued high unemployment have limited the recovery in discretionary consumer spending, but steady improvement for the restaurant sector should continue according to Bob Bielinski, Managing Director and Head of the...
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October 03, 2012, 07:52 AM
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The Great Recession caused a shift in the way middle market companies think about funding. In CIT’s “U.S. Capital Markets Outlook,” Neil Wessan, Managing Director and Group Head of CIT Capital Markets, explains why finding the cheapest cost of funds...
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September 13, 2012, 07:15 AM
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CIT Group announced that it has closed a new approximately $345 million (RMB2.2 billion) committed facility that will allow CIT Global Vendor Finance to fund new originations in China. The committed availability period expires in September 2014 with...
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September 11, 2012, 06:00 AM
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CIT Group announced that it provided a senior secured credit facility to Odyssey Investment Partners, a leading middle-market private equity firm, to support its acquisition of L-com, Inc., a global designer and manufacturer of wired and wireless...
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September 05, 2012, 06:32 AM
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CIT Group announced that it will redeem the remaining $681 million of its 7% Series C Senior Unsecured Notes (“7% Notes”) maturing in 2016. The Company has eliminated or refinanced nearly $31 billion of high cost debt since restructuring less than...
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August 21, 2012, 07:32 AM
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A Bloomberg article reports that less than three years after CIT emerged from bankruptcy, its CEO John Thain is persuading investors that its debt is as creditworthy as an investment-grade firm. The company has reduced its long-term debt by $10.5...
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August 20, 2012, 07:44 AM
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Outlook is Positive for Equipment AcquisitionsMore than three-quarters of U.S. middle market executives said their companies will make at least one capital goods acquisition of significant value over the next six to 18 months, according to Vince...
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August 02, 2012, 07:33 AM
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CIT Group Inc. reported a net loss for the quarter ended June 30, 2012 of $71 million. This net loss compares to a net loss of $50 million for the second quarter of 2011 and includes debt refinancing charges of $286 million related to the prepayment...
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July 30, 2012, 07:12 AM
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Nearly two-thirds (62%) of U.S. middle market executives said the availability of vendor financing was important when deciding to acquire capital goods, according to Ron Arrington, Global President of CIT Vendor Finance, a leading provider of...
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July 24, 2012, 07:24 AM
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CIT Group Inc. announced that it will redeem an additional $600 million of its 7% Series C Senior Unsecured Notes (7% Notes) maturing in 2016. Following this redemption, approximately $2.4 billion principal amount of the 7% Notes maturing in 2016 and...
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July 23, 2012, 06:33 AM
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CIT Group Inc. announced the launch of “CIT: Behind the Deal”, a series of client case study testimonial videos. The inaugural “CIT: Behind the Deal” video features Ernest Health, one of the nation’s leading operators of inpatient rehabilitation and...
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July 12, 2012, 06:30 AM
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CIT Group Inc., announced from the Farnborough International Air Show (Air Show) that CIT Aerospace has placed orders with Airbus for 10 A330 aircraft in 2012. Five A330 aircraft were ordered earlier this year in conjunction with the cancellation of...
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July 11, 2012, 06:30 AM
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CIT Group Inc. announced the launch of Factoring University (CITFactoringUniversity.com), a first-of-its-kind web site that offers a comprehensive education-based approach to the financial service known as accounts receivable factoring. “As one of...
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July 09, 2012, 06:18 AM
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PennLive reported a federal judge ruled against the Harrisburg Authority in its multimillion dollar battle against CIT Capital in U.S. Middle Court related to the city's botched incinerator refit project. According to the report, the authority and...
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June 28, 2012, 06:40 AM
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Despite continued economic uncertainty, more than four out of five (82%) middle market executives have made at least one capital goods acquisition of significant value in the past year, and more than three-quarters (78%) say they plan to make one...
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June 27, 2012, 08:20 AM
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Birch Communications, Inc. a leading IP-based telecom and managed services provider to small- and medium-sized businesses announced today that it has secured a multi-million dollar equipment financing facility with CIT Vendor Finance. "The progress...
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June 26, 2012, 03:10 PM
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CIT Group Inc. announced that it has arranged a $117.5 million senior secured credit facility to TrustHouse Services Group, Inc. to finance its acquisition of Valley Services, Inc., a national food service management company and one of the largest...
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June 26, 2012, 02:00 PM
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CIT Vendor Finance, a leading provider of business solutions to small and middle market companies acquiring equipment and value-added services, today announced the expansion of its healthcare equipment financing group. The expansion includes the...
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June 21, 2012, 07:50 AM
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CIT Group announced that it arranged and syndicated a $210 million senior secured credit facility to support the refinancing of Encompass Home Health, a Medicare-certified home health care agency. Encompass is a portfolio company of Cressey & Company...
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June 20, 2012, 06:45 AM
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CIT Bank, a wholly owned subsidiary of CIT Group Inc. announced that it has closed a $1 billion committed U.S. Vendor Finance conduit facility (Facility) with Barclays Bank PLC as Administrative Agent and three additional banks as committed lenders....
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June 14, 2012, 07:15 AM
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CIT Group announced that Jonathan (Jon) A. Lucas has been named President of CIT Trade Finance effective July 2, 2012 following the retirement of current CIT Trade Finance President John F. Daly on June 29, 2012. Lucas will report directly to Nelson...
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June 05, 2012, 04:15 PM
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CIT Group announced that CIT Rail, the third largest railcar lessor in North America, ordered 3,500 railcars from multiple manufacturers with deliveries scheduled throughout 2012 and 2013. These orders are for various tank car models that support the...
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June 05, 2012, 06:00 AM
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Approximately $1.4 trillion of commercial mortgage-backed security (CMBS) transactions are coming due over the next three years, creating an excellent climate for real estate financing. Since many lenders are saddled with large portfolios and a...
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May 30, 2012, 06:30 AM
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CIT Group Inc. announced the appointment of Neil Wessan as Managing Director and Group Head of CIT Capital Markets, effective immediately. He will report directly to CIT Corporate Finance Co-Heads Pete Connolly and Jim Hudak. Mssrs. Connolly and...
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May 24, 2012, 07:30 AM
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The Equipment Leasing & Finance Foundation (the Foundation) releases the May 2012 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. Designed to collect leadership data, the index reports a qualitative assessment of both the...
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May 21, 2012, 08:00 AM
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CIT Group Inc. reported a net loss for the quarter ended March 31, 2012 of $447 million. This net loss compares to net income of $66 million for the first quarter of 2011 and includes debt refinancing charges of $620 million related to the prepayment...
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April 24, 2012, 08:15 AM
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CIT Group Inc. announced the appointment of Stacey Goodman as Executive Vice President and Chief Information Officer effective April 30, 2012. She will report to to Nelson J. Chai, President of CIT Group Inc.“Technology continues to play an important...
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April 17, 2012, 05:30 AM
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CIT Group announced the appointment of Andrew T. Brandman as Executive Vice President and Chief Administrative Officer effective Monday, April 9. He will report directly to Chairman and Chief Executive Officer John A. Thain. “Andrew’s extensive...
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April 09, 2012, 07:45 AM
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NASDAQ reported that CIT Group bought a $200 million aircraft loan portfolio from an undisclosed European bank according to the company. The report indicates the portfolio consists of seven aviation lending facilities to several U.S. airlines and is...
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April 05, 2012, 06:30 AM
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LEAF Commercial Capital, Inc. (“LEAF”) recently announced the continued expansion of its field sales force with the addition of three seasoned leasing industry veterans. In their new roles as Regional Sales Managers, Ed O’Toole, Aimee Ridgway and...
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April 03, 2012, 06:00 AM
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CIT Group Inc. announced that it will redeem $500 million of its 7% Series C Senior Unsecured Notes maturing in 2017. Following this redemption, approximately $3.6 billion principal amount of the Notes maturing in 2017 and approximately $3.1 billion...
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April 02, 2012, 06:00 AM
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Reuters reported that CIT Group won preliminary court approval on Friday of a $75 million settlement to resolve allegations the commercial lender fraudulently misled shareholders about its exposures to risky mortgages and student loans. Shareholders...
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March 26, 2012, 07:00 AM
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Bloomberg reported that Lone Star Funds has agreed to buy $1 billion in commercial loans from CIT Group Inc., according to a person with knowledge of the sale. According to this report, Lone Star, a Dallas-based private equity firm, is purchasing...
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March 14, 2012, 08:00 AM
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Reuters reported CIT Group has asked a federal judge to approve a $75 million settlement proposal with former CIT shareholders in a class-action securities fraud lawsuit over actions preceding the large commercial lender's 2009 bankruptcy.According...
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March 14, 2012, 06:15 AM
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The emerging markets that offer the greatest growth potential for the commercial aviation industry include China, the Philippines, Malaysia, Indonesia, and Latin America, according to Jeff Knittel, President of Transportation Finance at CIT Group Inc...
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March 12, 2012, 08:00 AM
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CIT Group Inc. announced that it has purchased a $200 million aircraft loan portfolio consisting of seven aviation loan facilities to several U.S. airlines. The loans are secured by in-production Boeing and Airbus aircraft. The loan portfolio was...
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March 08, 2012, 06:30 AM
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As SBA lending continues its return to pre-recession levels, now is a good time to consider SBA financing given the current rate environment, says Todd Harrington, Chief Sales Officer for CIT Bank -- Small Business Lending at CIT Group Inc. This...
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March 05, 2012, 07:30 AM
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With the equipment financing industry forecasted to grow 9% through 2012, now may be the time for companies to consider replacing outdated equipment. This topic is one of many discussed in CIT’s "2012 U.S. Equipment Financing Outlook,"...
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February 28, 2012, 08:00 AM
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Washington Federal announced the appointment of Michael Brown as President of a newly formed Equipment Finance Division, to be headquartered in Phoenix, Arizona. Brown will be responsible for growing the company's equipment finance portfolio within...
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February 23, 2012, 07:30 AM
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According to Moody’s, the upgrade recognizes CIT's achievements in strengthening its liquidity profile by diversifying funding sources, extending debt maturities, and reducing the level of encumbered assets.To follow are highlights of the upgrade...
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February 17, 2012, 06:00 AM
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The prolonged recovery of the U.S. economy has forced restaurateurs to adapt to a “new normal,” one in which they are now more efficient and innovative as they have learned to deal with a difficult sales and profit environment. This is one of many...
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February 13, 2012, 08:15 AM
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CIT Group Inc. announced that it will redeem all of its nearly $4 billion of remaining 7% Series A Second-Priority Secured Notes including approximately $1 billion principal amount of the Notes maturing in 2016 and approximately $2.9 billion...
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February 08, 2012, 07:00 AM
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Traditional communications and information services and technology companies continue to experience strong growth increases in underlying demand, as M&A activity and rapid organic growth continue to drive the need for capital in the industry...
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February 06, 2012, 08:00 AM
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