CIT bankrolls EBF's A320 purchases

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CIT Aerospace has provided a senior secured credit facility to Minneapolis-based EBF & Associates to finance its acquisition of five Airbus A320-200 aircraft leased to Silkair.

The financing for the privately-held investor, which has $2.1 billion in assets under management, was provided by CIT Bank, the commercial bank subsidiary of parent company CIT Group.

Additional terms of the transaction were not disclosed.