Daily News: July 31, 2012

CIT Announces Public Offering of Senior Unsecured Notes


CIT Group Inc. announced that it has commenced an offering of senior unsecured notes due 2017 (the 2017 notes) and senior unsecured notes due 2022 (the 2022 notes) in a transaction registered with the U.S. Securities and Exchange Commission (SEC). CIT plans to use the net proceeds from the offering of the notes for general corporate purposes and the refinancing of its outstanding 7% Series C notes due 2016 and/or 2017.

The joint bookrunning managers for the offering are BofA Merrill Lynch, Deutsche Bank Securities, Goldman, Sachs & Co. and J.P. Morgan.

CIT has filed a registration statement with the SEC for the offering of the notes.