We are pleased to establish this new relationship with EBF & Associates on the leasing of aircraft to Silkair
NEW YORK - CIT Group Inc. (NYSE: CIT), a global leader in aircraft finance, today announced that CIT Aerospace provided a senior secured credit facility to EBF & Associates to finance its acquisition of five Airbus A320-200 aircraft leased to Silkair.
The financing was provided by CIT Bank, the U.S commercial bank subsidiary of CIT. Additional terms of the transaction were not disclosed.
“We are pleased to establish this new relationship with EBF & Associates on the leasing of aircraft to Silkair,” said John Morabito, Senior Vice President, Financial Institutions Group, CIT Aerospace. “This transaction highlights our ability to leverage our asset expertise to provide financing with residual asset risk to our clients as they seek to efficiently deploy capital. We look forward to continuing to expand our relationship with EBF & Associates and Silkair in the future.”
About CIT Aerospace
As one of the world's leading aircraft leasing organizations, CIT Aerospace provides leasing and financing packages – including operating leases and structuring and advisory services – for commercial airlines worldwide. CIT Aerospace owns and finances a fleet of approximately 330 commercial aircraft leased and financed to approximately 100 customers in 50 countries. cit.com/aerospace
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $35 billion in financing and leasing assets. It provides financing, leasing and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in middle market lending, factoring, retail finance, aerospace, equipmentand rail leasing, and vendor finance. CIT operates CIT Bank (Member FDIC), its primary bank subsidiary, which, through its Internet bank BankOnCIT.com, offers a suite of savings options designed to help customers achieve a range of financial goals. cit.com
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