CIT Provides $61.8 Mln loan to Alterna Capital

CIT Group said Wednesday that it provided a $61.8 million loan to a portfolio company of Alterna Capital Partners to finance its buy of three 50,000 DWT ECO-design Medium Range (MR) IMO II/III product/chemical tankers from STX Offshore & Shipbuilding Co. The tankers are owned by Sterling Ocean Shipping, which is majority owned and controlled by Alterna. CIT Maritime Finance structured and facilitated the transaction.

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