CIT increases funding for Globus Maritime Limited by $18 million
NEW YORK, August 25, 2022 /PRNewswire/ — CIT, a division of First Citizens Bank, today announced that its Maritime finance company increased its funding for Globus Maritime Limited from $18 million.
The increase in loans expands CIT’s relationship with Globus Maritime and increases CIT’s total financing to the customer to $52.25 millionwhich is secured by seven dry bulk carrier 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 CEO of Globus Maritime. .
“Globus Maritime is a leading maritime operator known throughout the industry,” said Evan Cohen, Managing Director and Group Head of CIT’s Marine Finance business. “We are excited about this opportunity to increase their funding and continue our support for their operations.”
Maritime financewhich is part of CIT’s Commercial Finance division, provides customized secured lending solutions to a global customer base of shipowners and shipoperators.
ICT is a division of First Citizens Bank, the largest family bank in United States, carrying on a unique legacy of strength, stability and long-term thinking that has spanned generations. Parent company, First Citizens BancSharesInc. (NASDAQ: FCNCA) is one of the top 20 U.S. financial institutions with over $100 billion in assets. The Company’s Commercial Banking segment provides a wide range of premier lending, leasing and banking services to medium 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 deep expertise that helps businesses and individuals achieve their specific goals at every stage of their financial journey. Find out more about cit.com/firstcitizens.
SOURCE CIT, a division of First Citizens Bank