New York-based national bank CIT Group Inc. (NYSE: CIT) has announced that its Aerospace, Defense and Government Services business served as administrative agent, security agent and lead lender on a USD 80 million senior secured revolving credit facility for AerFin Holdings, the company said.
AerFin is a global specialist that provides aircraft end-of-life services and cost-saving aftermarket support solutions to the aviation industry. The credit facility was arranged in part to support the recent acquisition of AerFin by Catacap, a private equity buy-out fund.
CIT´s Aerospace, Defense and Government Services group, part of the company´s Commercial Finance division, provides integrated financial solutions for asset investors, manufacturers, suppliers and service providers in the aerospace, defense, and government services markets.
CIT is a national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience, approximately USD 50 billion in assets as of Sept. 30, 2019, and operates a principal bank subsidiary, CIT Bank, N.A.