CIT to Reduce High Cost Debt by an Additional $600 Million
CIT Group Inc. (NYSE: CIT) today announced that it will redeem an additional $600 million of its 7% Series C Senior Unsecured Notes (7% Notes) maturing in 2016. Following this redemption, approximately $2.4 billion principal amount of the 7% Notes maturing in 2016 and approximately $1.6 billion principal amount of the 7% Notes maturing in 2017 will remain outstanding.
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