![]() "We look forward to continuing to serve our clients with the financing they need to develop renewable power generation, support economic development and create a cleaner, more sustainable environment for everyone," Lorusso added.ĬIT consistently ranks among the top banks in leading financing for U.S. "We're proud to receive this recognition from Power Finance & Risk, itself a recognized leader in the field. "In recent years, our Power and Energy team has done exceptional work in leading financings for some of the biggest and most innovative renewable power projects in the nation," said Mike Lorusso, who leads Power and Energy as managing director and group head. "We are honored to receive this Renewable Energy Lead Arranger of the Year Award in recognition of CIT's expertise and agility in supporting clients in leading financings for clean energy projects across the U.S.," said David Harnisch, president of CIT's Commercial Finance division, which includes the Power and Energy group. The award is granted for excellence and innovation while serving as lead arranger in financing renewable energy projects for a variety of clients, the magazine said. Discover more at cit.com/about.NEW YORK, September 8, 2020 /3BL Media/ - CIT Group Inc. (NYSE: CIT) today announced that 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.ĬIT's Power and Energy business was selected by the Power Finance & Risk editorial team based on its independent research and industry insights. CIT's consumer banking segment includes a national direct bank and regional branch network. The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. The group, part of CIT's Commercial Finance division, provides recurring revenue, cash flow, real estate and asset-based senior debt solutions to middle market companies throughout the United States.ĬIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. ![]() "This new financing provides the company with increased flexibility in managing its operations and growth."ĬIT's Technology, Media and Telecommunications business supports the development, expansion, equipment, and strategic acquisition needs of clients in the telecommunications, technology, media and information services industries. "We worked closely with iEnergizer to understand its objectives and were happy to support this financing, given its world-class management team," said Thomas Westdyk, managing director and group head for CIT's Technology, Media and Telecommunications business. ![]() The financing, which includes a $150 million term loan and a $15 million revolving credit facility, will be used to refinance existing debt and fund a dividend to shareholders.įounded in 2000, iEnergizer provides technology-enabled services to clients across a wide range of industries, including gaming, healthcare, publishing, travel, and financial services.
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