CIT serves as Administrative Agent to Royal Victoria Hospital



    
    /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
    UNITED STATES/
    

    TORONTO, Feb. 27 /CNW/ - CIT Group Inc. (CIT Canada), a bank holding
company, today announced it will serve as the Administrative Agent to the
lenders for the expansion of Royal Victoria Hospital in Barrie, Ontario. The
construction of the hospital will be completed by Vanbots, a division of
Carillion Construction Inc.
    "CIT is pleased to support the delivery of essential healthcare
infrastructure such as the Royal Victoria Hospital," said Peter Hepburn,
Managing Director of CIT Energy & Infrastructure. "Our market knowledge and
direct experience are well suited to providing the necessary administrative
services for such an essential project. Amid unprecedented credit market
turbulence, the undertaking of this project represents long-term confidence in
this asset class and will dramatically impact one of the fastest growing
cities in Canada."
    Royal Victoria Hospital's Phase 1 Expansion Project will double the size
of the existing hospital adding 101 new inpatient beds; two additional Patient
Care Units with 64 beds for future expansion; a dedicated coronary care unit,
expanded Laboratory, Diagnostic Imaging and Emergency departments; two new
operating rooms and the Simcoe Muskoka Regional Cancer Centre.
    CIT Canada, through its Energy & Infrastructure unit, focuses on
providing financial advisory, underwriting and arranging services, including
principal investment for structured and project financings. The Unit has
established a solid track record in supporting Public Private Partnerships in
Canada, having successfully provided financial advisory and arranging services
on several Canadian infrastructure projects. Notable projects closed in 2008
include the Northwest Anthony Henday Drive in Edmonton, Alberta, the Woodstock
Hospital in Woodstock, Ontario and the Alberta Schools Alternative Procurement
for the construction of 18 schools in Calgary and Edmonton.

    About CIT Canada

    CIT Canada, a leading commercial finance company, provides clients with
financing, leasing products and advisory services. CIT Canada offers
industry-leading solutions through its key business units: Corporate Finance,
Equipment Finance, Vendor Finance, Energy and Infrastructure Finance, and
Healthcare Finance. CIT is a bank holding company with more than $60 billion
in managed assets that provides financial products and advisory services to
small and middle market businesses. Operating in more than 50 countries across
30 industries, CIT provides an unparalleled combination of relationship,
intellectual and financial capital to its customers worldwide. CIT maintains
leadership positions in aerospace, equipment and rail leasing, small business
and middle market lending, vendor financing and factoring. Founded in 1908 and
headquartered in New York, CIT is a member of the S&P 500 and Fortune 500.
www.cit.ca





For further information:

For further information: CIT Canada Media Relations, Joanne Mckay,
Marketing Manager, (905) 633-3279, joanne.mckay@cit.com

Organization Profile

CIT CANADA

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890