CIT Group’s Maritime Finance business provided $35.5 million to finance four commercial shipping vessels operated by Greenyield Shipping, the American bank holding company said.
Greenyield is managed by Hayfin Capital Management, a European alternative asset management firm based in London.
As explained, Hayfin 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,” Stephen Majeski , Managing Director of Hayfin, commented.
“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. We worked closely to understand their objectives and arrange the financing to help them reach their business goals,” Evan Cohen , managing director and group head for CIT’s Maritime Finance business, said.
Maritime Finance, part of CIT’s Commercial Finance division, offers customized solutions for secured loans to vessel owners and operators globally.