FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


CIT Northbridge Agents $100MM Revolving Credit Facility for Hornbeck Offshore Services

July 31, 2019, 08:55 AM
Filed Under: Marine

CIT Group Inc. announced CIT Northbridge Credit, through its investment advisor CIT Asset Management LLC, served as collateral and administrative agent and lead lender on a $100 million senior secured credit facility for Hornbeck Offshore Services Inc.

Hornbeck Offshore Services is a leading provider of technologically advanced, new generation offshore service vessels primarily in the Gulf of Mexico and Latin America.

"This asset-based credit facility provides our company with additional financial flexibility as we serve our customers and grow our business," said Jim Harp, Chief Financial Officer for Hornbeck Offshore. "We greatly appreciated the responsiveness, agility and professionalism of the CIT Northbridge Credit team in leading the financing of this revolving credit facility."

"We are pleased to have the opportunity to support Hornbeck Offshore as the company continues to provide advanced offshore service vessels that meet the needs of today's customers," said Neal Legan, who leads CIT Northbridge.

In addition to leveraging its financing and structuring expertise, CIT's Asset Management group is also providing a package of treasury management solutions in connection with the credit facility.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.