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CIT Northbridge Arranges $20MM Credit Facility for Greene’s Energy Group

May 25, 2018, 07:08 AM
Filed Under: Energy

CIT Group Inc. announced that CIT Northbridge Credit, its joint venture financing unit, served as sole lead arranger on a $20 million senior secured revolving and term loan credit facility for Greene’s Energy Group, LLC.

Greene’s Energy Group, headquartered in Houston, Texas, is a diversified oilfield services company providing integrated pre and post-production well services, well testing, flow-back, laboratory analysis, wellhead isolation tooling, equipment rentals and specialty services to improve on- and off-shore productivity to customers in the drilling, completion and pipeline businesses.

“CIT Northbridge is pleased to be able to provide a more economical and flexible senior debt solution to support the growing needs of the Greene’s Energy business,” said Neal Legan, who leads CIT Northbridge.

“The experience and insights of the CIT Northbridge team were greatly appreciated as we worked through the successful execution of this credit facility, which is an important component of our business strategy,” said Frank Mathews, President, of Greene’s Energy Group, LLC.

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