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.
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.
SOURCE CIT, a division of First Citizens Bank