CIT Syndicated Loan Group
Our mission is to centralize CIT investments in par bank loan participations and establish a first-class distressed commercial debt platform. We continue to use our many years of experience investing in bank debt and syndicated commercial loans. We are supported by the industry expertise of the other CIT business units and have developed a highly profitable and well-diversified portfolio.
The CIT Syndicated Loan Group is primarily focused on the purchase of senior secured bank loans in the primary and secondary markets. The business has two areas of focus - par loans and distressed loans.
Our experienced team of syndicated commercial loans and distressed debt professionals has expertise in:
- Underwriting
- Workout
- Portfolio Management
- Trading
- Sourcing
Par Loan Business
- We invest in syndicated bank debt across all industries. This debt is used by borrowers for leveraged buyouts, acquisition financing and general corporate needs. Investments include first and second lien secured loans that are sourced in both the primary and secondary markets.
- Our group invests in term loan tranches in the primary market and utilizes the secondary market to add to positions, including purchasing deeply discounted revolving credit facilities. Total loans outstanding in our target market equal approximately $300 billion.
Distressed Debt Business
- We invest in first and second lien secured debt and other corporate obligations at a deep discount to par value. Our investments are sourced through broker/dealers, intermediaries and primary research. We invest in all industry sectors.
- The current distressed bank loan market has outstanding loans totaling greater than $6 billion. We take a proactive role in working with the distressed company's management and its constituents to maximize value for creditors.