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CIT Maritime Finance Business Provides $35.5MM to Greenyield Shipping to Finance Vessels

December 29, 2021, 07:20 AM
Filed Under: Marine

CIT Group Inc. announced that its Maritime Finance business provided $35.5 million to finance four commercial shipping vessels operated by Greenyield Shipping LLC.

Greenyield is managed by Hayfin Capital Management, one of Europe's alternative asset management firms, which has employed a multi-disciplined approach towards investments in the maritime sector and has over the last five years invested in more than 65 vessels across the tanker, containerships, dry bulk, LNG and offshore segments.

"Deep water shipping plays a vital role in supporting the global supply chain and we are committed to investing responsibly by utilizing available solutions to assist in the decarbonization of shipping while generating consistent returns for our investors," said Stephen Majeski, Managing Director of Hayfin. "We appreciated CIT's industry knowledge, their complementary approach towards underwriting risk and their agility in arranging financing for these cargo vessels."

"The Hayfin team is respected throughout the industry for their expertise in managing commercial vessels serving a variety of shipping categories," said Evan Cohen, managing director and group head for CIT's Maritime Finance business. "We worked closely to understand their objectives and arrange the financing to help them reach their business goals."

Maritime Finance, part of CIT's Commercial Finance division, offers customized solutions for secured loans to a global client base of vessel owners and operators.

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