NYSE-listed CIT Group has helped provide a $15m loan that is funding the acquisition of two containerships.
It acted as sole lead arranger for MRC Maritime Holdings, a shipowning entity controlled by a private New York City-based investment fund manager.
The loan will be used to partially finance the purchase of two boxships to be operated in a pool run by a prominent European ship manager.
"We are pleased to arrange this loan on behalf of MRC Maritime Holdings as they establish their presence in the maritime shipping industry," said Burt Feinberg, group head of CIT's commercial and industrial finance unit.
"We look forward to future opportunities to work together as the company grows its business."
He added: "Our financing expertise and knowledge of the maritime industry were extremely valuable in helping us create the right loan package to meet MRC Maritime's needs."
The deal was arranged by CIT's maritime finance unit, which focuses on tanker, bulker, container and Jones Act shipping sectors.
