CIT Provides $75 Million Financing To AES Distributed Energy

CIT Group Inc. has provided a $75 million senior secured credit facility to an affiliate of AES Distributed Energy Inc. to finance its acquisition of residential solar systems across the U.S. through its MySolar program.

MySolar is a strategic partnership formed by affiliates of AES Distributed Energy and Morgan Stanley for the purpose of financing, owning and operating residential solar systems.

CIT Corporate Finance, Energy, served as lead arranger, administrative agent and sole bookrunner. Financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT.

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