Goldberg Kohn represented firm client CIT Northbridge Credit (CNC) in two recent lending transactions – one with Intermetal Rebar LLC and another with F Street Investments. Combined value for the transactions was in excess of $75 million.
Commercial Finance Group principals Jenna Ward and David Dranoff represented CNC in connection with a $50 million credit facility to Intermetal Rebar, a leading importer and distributor of structural products to distributors, fabricators, and contractors in the non-residential construction industry. More details about this transaction can be found here.
Maria McGuire, a principal in the firm’s Commercial Finance Group, represented CNC in a separate transaction with F Street Investments in which CNC served as the sole lead arranger of a $25 million credit facility to F Street, which is a lender to real estate investors and developers. Associate Kristoffer Gredsted assisted on the matter. More information on this transaction can be found here.
CIT Northbridge Credit provides senior secured asset-based financing solutions to address the needs of clients as an alternative lender to traditional banks. Revolving- and Term-Loan commitments to middle-market companies across various industries and business cycles may range from $15 million to $150 million. It is a joint venture between CIT Bank and Allstate, launched in 2017.