CIT Announces Pricing of $750MM of Senior Unsecured Notes
CIT announced the pricing of a public offering of $750 million aggregate principal amount of senior unsecured notes due 2023 that will bear interest at a per annum rate of 5.00%.
The notes priced at 99.031% of the principal amount to yield 5.125% per annum and will be senior unsecured obligations of CIT. CIT expects the offering to close on or about August 1, 2013, subject to customary closing conditions. CIT plans to use the net proceeds from the offering of the Notes for general corporate purposes.
The joint book-running managers for the offering are Barclays Capital, Credit Suisse Securities (USA), J.P. Morgan Securities and Morgan Stanley.