CIT Acts as Joint Principal Arranger on $ 1.16 Billion Financing for PRO Unlimited Inc.

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NEW YORK, November 2, 2021 / PRNewswire / – CIT Group Inc. (NYSE: CIT) today announced that its asset lending business is serving as a Joint Principal Arranger on a $ 1.16 billion funding for PRO Unlimited Inc., a leading provider of Integrated Workforce Management (IWM) platforms.

Serving hundreds of the world’s most trusted brands, PRO Unlimited offers modern workforce management and a partner ecosystem backed by data, software, intelligence and services to meet workforce needs. -flexible work of organizations. The proceeds were used in part to facilitate the company’s acquisition of Workforce Logiq, a global provider of AI-based workforce information, technologies and services, and for general corporate purposes. ‘business.

“We have a long-term relationship with CIT as a lender and are delighted to have them participate as a joint lead arranger in this latest financing as we continue to optimize our organization for future growth and continued innovation.” , said Kevin akeroyd, CEO of PRO Unlimited.

“Our ten-year commitment with PRO Unlimited is an example of how our relationship-driven approach can help businesses finance their growth trajectory,” said Chris Esposito, Managing Director and Group Head of CIT’s Asset-Based Lending business. “We are excited to play a role in this latest round of funding as the company continues on its growth agenda and continues to evolve.”

CIT’s Asset-Based Lending business responds to clients’ working capital needs by delivering innovative structures that reduce financing costs and operational risks while improving profits by leveraging accounts receivable, inventory or fixed assets as a guarantee.

About the CIT
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to achieve their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a primary banking subsidiary, CIT Bank, NA (FDIC member, Equal Housing Lender). The Company’s Commercial Banking segment includes trade finance, community association banking, middle market banking, equipment and vendor finance, factoring, railcar finance, treasury services and payments, as well as capital markets and asset management. CIT’s personal banking segment includes a national direct bank and a network of regional branches. Find out more at cit.com/about.

MEDIA RELATIONS:
John M. Moran
212-461-5507
[email protected]

SOURCE CIT Group inc.

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