NEW YORK--(BUSINESS WIRE)--CIT Capital Finance, a unit of CIT Group Inc. (NYSE: CIT), and a leading advisor, arranger and underwriter of project finance transactions, today announced the completion of a senior debt facility for the new Royal Ottawa Health Care Group Hospital Facility in Ottawa, Ontario.
The new facility, sponsored by The Healthcare Infrastructure Company of Canada, is in support of a $126.8 million, 188-bed hospital to be operated over a 20 year and 8 month concession period. The new hospital is expected to open in late 2006.
"On the heels of the recent senior debt facility that we arranged for the William Osler Health Centre Hospital Facility in Brampton, Ontario, we are proud to be able to continue playing a significant role in the advancement of healthcare public-private partnerships in Ontario," commented Peter Hepburn, Senior Director of North American Infrastructure Finance for CIT Power, Energy and Infrastructure, a division of CIT Capital Finance.
The Healthcare Infrastructure Company of Canada, a joint venture comprised of Carillion Canada, Borealis Infrastructure Management (wholly owned by OMERS) and EllisDon Corporation, will finance, design, build, property manage, maintain and provide non-clinical services at the facility.
About CIT Capital Finance
CIT Capital Finance, a unit of CIT Group Inc. provides operating and long- term leasing, acquisition financing, senior and subordinate term debt, underwriting and syndication, financial modeling and advisory services to customers and clients in a variety of industries including aerospace, rail, real estate, power, energy and infrastructure. Capital Finance's core groups include: Aerospace, Rail Resources, Power, Energy and Infrastructure, Structured Debt and Leasing and Real Estate Financing.
CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance company, provides clients with financing and leasing products and advisory services. Founded in 1908, CIT has approximately $50 billion in assets under management and possesses the financial resources, industry expertise and product knowledge to serve the needs of clients across approximately 30 industries. CIT, a Fortune 500 company and a component of the S&P 500 Index, holds leading positions in vendor financing, factoring, equipment and transportation financing, Small Business Administration loans, and asset-based lending. CIT, with its principal offices in Livingston, New Jersey and New York City, has approximately 6,000 employees in locations throughout North America, Europe, Latin and South America, and the Pacific Rim. For more information, visit http://www.cit.com/.
Web site: http://www.cit.com/