CIT gets $3B loan from bondholders (Dealscape

CIT Group Inc. bondholders agreed Monday to provide the company with a $3 billion bridge loan to help the lender avoid a bankruptcy filing, according to a source.

The company's board has approved the deal, but the announcement was delayed to allow time for document preparation. The source said no material issues were holding up the pact.

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NOT A SUBSCRIBER? CIT gets $3B loan from bondholders Posted on July 20, 2009 5:30 PM CIT Group Inc. bondholders agreed Monday to provide the company with a $3 billion bridge loan to help the lender avoid a bankruptcy filing, according to a source. The company's board has approved the deal, but the announcement was delayed to allow time for document preparation. The source said no material issues were holding up the pact. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline. 384 in-depth reports of Bankruptcies in the Financial Services sector 254 in-depth reports of PE deals in the Financial Services sector from the past year 62 in-depth transaction records for Federal Deposit Insurance Corp. 49 in-depth transaction records for CIT Group 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Birds Eye Cadbury AG Agrium Inc. Skadden Arps Revolution Money Tandberg ASA Aisling Capital Ken Lewis Natco		EXISTING USERS Username Password Forget your password? Missing a product?

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