CIT to Reduce High Cost Debt by an Additional $500M

by Eddie Staley, Benzinga Editor

April 2, 2012 8:35 AM | 17 seconds read | Make a Comment

CIT Group Inc.

CIT

today announced that it will redeem $500 million of its 7% Series C Senior Unsecured Notes maturing in 2017. Following this redemption, approximately $3.6 billion principal amount of the Notes maturing in 2017 and approximately $3.1 billion principal amount of the Notes maturing in 2016 will remain outstanding.

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CIT to Reduce High Cost Debt by an Additional $500M