First Citizens Bank Leads $200M Financing for Energy Infrastructure Company

First Citizens Bank announced that its Capital Equipment Finance group, part of the CIT division, served as lead arranger on $200 million in financing for New Fortress Energy Inc.

The New York-based energy infrastructure company will use the loan to support its grid stabilization project in Puerto Rico.

“We are focused on providing important support for energy availability, grid stability and cleaner power in Puerto Rico,” Wes Edens, chairman and CEO of New Fortress Energy, said. “We are pleased to work with the capital equipment finance team, who provided expertise and agility in arranging financing for these generators.”

Capital Equipment Finance works directly with middle market and large-cap businesses. The unit specializes in providing equipment loans and leases with flexible terms and rates tailored to the equipment and credit strength of the borrower.