PR Newswire
NEW YORK , Aug. 25, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Maritime Finance business has increased its financing for Globus Maritime Limited by $18 million .
The lending increase expands CIT's relationship with Globus Maritime and raises CIT's total financing to the client to $52.25 million , which is secured by seven dry-bulk shipping vessels.
"We appreciated CIT's expertise and agility in arranging this expanded financing to support the growth of our dry-bulk shipping portfolio," said Athanasios Feidakis, president and chief executive officer at Globus Maritime.
"Globus Maritime is a top-level shipping operator known throughout the industry," said Evan Cohen , managing director and group head for CIT's Maritime Finance business. "We're pleased by this opportunity to increase their financing and continue our support for their operations."
Maritime Finance , part of CIT's Commercial Finance division, offers customized solutions for secured loans to a global client base of vessel owners and operators.
About CIT
CIT is a division of First Citizens Bank, the largest family-controlled bank in the United States , continuing a unique legacy of strength, stability and long-term thinking that has spanned generations. Parent company, First Citizens BancShares , Inc. ( NASDAQ : FCNCA ) is a top 20 U.S. financial institution with more than $100 billion in assets. The company's commercial banking segment brings a wide array of best-in-class lending, leasing and banking services to middle-market companies and small businesses from coast to coast. First Citizens also operates a nationwide direct bank and a network of more than 600 branches in 22 states, many in high-growth markets. Industry specialists bring a depth of expertise that helps businesses and individuals meet their specific goals at every stage of their financial journey. Discover more at cit.com/firstcitizens .
MEDIA RELATIONS:
Lexa Tutela
212-461-5305
Lexa.Tutela@firstcitizens.com
SOURCE CIT, a division of First Citizens Bank