July 30, 2014
CIT provides $27m financing to Virgo Investment Group
CIT Group, a global leader in aircraft finance, reported that CIT Aerospace provided a $27m senior secured credit facility to Virgo Investment Group, a private investment management firm, to finance its acquisition of four Boeing 737-700 aircraft leased to GOL. Each aircraft is equipped with CFM56 engines. The financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT. Terms of the transaction were not disclosed.