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


CIT Arranges $22MM Financing for Container Ships

May 11, 2021, 07:22 AM
Filed Under: Marine

CIT Group's Maritime Finance business served as sole lead arranger on a $22 million financing for a portfolio of five container ships.

The financing was arranged on behalf of Madison Marine Corp., which is partially refinancing debt on five 4,000-TEU container ships. All five vessels are covered by existing charter agreements with a leading container liner company.

“The global supply chain continues to rely on container ships as a critical transportation mode in bringing goods to market,” said Sebastien Knecht de Massy, Founder of Madison Marine. “In the specialized maritime field, we appreciated CIT’s agility and expertise in valuing our container ships as assets and arranging this financing.”

“Madison Marine is an experienced and skilled operator of commercial container ships,” said Evan Cohen, managing director and group head of CIT’s Maritime Finance business. “We were pleased to work with them again to support their financing objectives.”

Comments From Our Members

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