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CIT Finances Helicopters for Lease Corporation International

July 02, 2013, 06:21 AM
Filed Under: Aircraft

CIT Group Inc. announced that CIT Transportation Lending provided financing to Dublin-based Lease Corporation International (LCI) to acquire three AgustaWestland 139 helicopters. The aircraft are in offshore oil and gas configuration and are on lease to UK-based Bond Helicopters and Malaysia-based Weststar Aviation.

CIT Transportation Lending structured and facilitated the transaction, while financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT. Terms of the transaction were not disclosed.

“LCI’s vision, execution and product offering positions them well to serve helicopter operators and CIT is happy to provide financing in support of their growth strategy,” said Oliver Althoff, Director, CIT Transportation Lending.

Mike Platt, Chief Executive Officer of LCI, said, “The CIT Transportation Lending team brought to bear structural flexibility, recourse and non-recourse options, global knowledge and industry expertise. We look forward to a strong partnership in the future.”

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