CIT’s maritime finance business arranged to provide up to $58 million to refinance four container ships operated by Leonhardt & Blumberg. The financing includes both term loan and delayed draw components.

Leonhardt & Blumberg is a shipowner and management firm with an existing managed fleet of more than 35 feeder vessels ranging in size from 1,000 to 3,600 TEU.

“Container ships play a vital role in moving goods to market through the global supply chain,” Mathias Gaethje, managing director of Leonhardt & Blumberg, said. “We appreciated CIT’s expertise in arranging financing for these vessels.”

“Leonhardt & Blumberg is well-known throughout the shipping industry for their expertise in operating and managing container ships,” Evan Cohen, managing director and group head for CIT’s maritime finance business, said. “We worked closely to understand their objectives and arrange the right financing to help them reach their business goals.”