CIT Provides $6.3 Million Financing to Diamond Communications LLC
CIT Group Inc. (NYSE: CIT) announced a $6.3 million refinancing for corporate office properties owned by Diamond Communications LLC. This financing, facilitated by CIT's Middle Market Banking division, supports one of the largest private wireless infrastructure companies in the U.S., which manages over 290,000 properties nationwide. The loans are designated for properties in Springfield, New Jersey, and Delray Beach, Florida. CIT aims to further strengthen its relationship with Diamond Communications through this financial support.
- CIT provided $6.3 million in financing, enhancing support for Diamond Communications.
- This refinancing strengthens CIT's position in the Middle Market Banking segment.
- None.
NEW YORK, Dec. 15, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Middle Market Banking business provided
Diamond Communications is one of the largest private wireless infrastructure companies in the U.S., managing over 290,000 properties and structures across the country. CIT's refinancing involves term loans for corporate office properties in Springfield, New Jersey, and in Delray Beach, Florida.
"Diamond Communications has flourished as one of the nation's top full-service wireless infrastructure providers," said Steven Stuckey, managing director and group head for CIT's Middle Market Banking business. "We were glad to support them with this latest financing and look forward to additional opportunities to work together in the future."
Middle Market Banking, part of CIT's Commercial Finance division, delivers a range of financial solutions to midsize clients through a relationship banking model. The business offers deposit solutions, loans, treasury services and other banking products to manufacturers, distributors and a wide variety of service industries.
About CIT
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.
MEDIA RELATIONS:
John M. Moran
212-461-5507
john.moran@cit.com
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SOURCE CIT Group Inc.
