New York, N.Y., headquartered CITGroup Inc (NYSE: CIT) records that its Maritime Finance organization led the setup of $56 million in funding towards the purchase of 2 huge business delivery vessels, which are used on long-lasting charters.
The funding becomes part of a deal entailing Advantage Tankers as well asFleetscape Capital Both Advantage as well as Fleetscape are energetic in business delivery procedures as well as funding, specifically, as well as are existing CIT customers. CIT functioned as lead arranger, representative as well as bush company on the funding, as well as likewise offered funding markets as well as treasury administration solutions.
“We appreciated the expertise and agility of CIT in developing a proposal that met the financing needs for this important transaction,” stated Tugrul Tokgoz, CHIEF EXECUTIVE OFFICER of Advantage Tankers.
“We were pleased to work closely again with Fleetscape and Advantage Tankers and look forward to supporting them in the future,” stated Evan Cohen, handling supervisor as well as team go to CIT’s Maritime Finance organization.
Maritime Finance, component of CIT’s Commercial Finance department, uses tailored services for safe financings to a worldwide customer base of vessel proprietors as well as drivers. Key locations of emphasis consist of the vessel, bulker, container as well as Jones Act delivery industries.
