- CO is now offering to exchange up to $1. 7Baggregate principal amount of certain of its outstanding notes in exchange for up to $550M in cash and up to $1.15B aggregate principal amount of newly-issued 12% Subordinated Notes due 2018
- The Notes Offer is one of the primary components of CIT's plan to raise approximately $1,4B of regulatory capital to support its application to become a bank holding company.

Other headlines for [CIT]

• CIT 1/7/2009 10:41pm
  CIT Group Inc UPDATE: The company said that it expects to record a loss for the quarter ending Dec 3 - filing dated 12/29- The loss will reflect a significant rise in the reserve for credit losses, further more...
  
• CIT 12/22/2008 04:00pm
  CIT Group Inc Wins approval to become bank holding company; Obtains $2.3B U.S. Treasury investment- Approval allows CIT to seek approx $2.5B in capital. Further overnight the U.S. Treasury has preliminarily more...
  
• CIT 12/19/2008 04:59pm
  CIT Group Inc S&P cuts rating to BBB+ from A-
  
• CIT 12/17/2008 08:35pm
  CIT Group Inc Increases the size of stock offering to $300M from $250M; The offering was priced at $4.00/share (last: $4.48)- CIT has also granted the underwriters for the offering an over-allotment option to more...
  
• CIT 12/17/2008 04:54pm
  CIT Group Inc Announces expiration of withdrawal rights for notes exchange offer- According to the results less than $30M in aggregate principal amounts of notes previously tendered into the Notes Exchange were more...
  

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