CIT said to be near $3B lifeline (Dealscape

CIT Group Inc. was reportedly close to securing a $3 billion loan from bondholder late Sunday, July 19, that would enable the middle market lender to avoid filing for bankruptcy.

After a week of unsuccessful negotiations with regulators over a possible government rescue package, the company was left with few options. Media reports over the weekend suggested that CIT would file a Chapter 11 petition on Monday if the emergency loan falls through.

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.

382 in-depth reports of Bankruptcies in the Financial Services sector
253 in-depth reports of PE deals in the Financial Services sector from the past year
242 in-depth reprts of Bankruptcies advised by Skadden, Arps, Slate, Meagher & Flom LLP
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
Skadden Arps
Concho Resources
Pinnacle Foods
Agrium Inc.
Birds Eye
Cantor Fitzgerald LP
Credit Suisse
Windstream Corp.
MBIA Inc.

Forward-looking intelligence allows you time to act. View this video on our restructuring content to see how you can benefit from our expertise.
NOT A SUBSCRIBER? CIT said to be near $3B lifeline Posted on July 20, 2009 12:49 PM CIT Group Inc. was reportedly close to securing a $3 billion loan from bondholder late Sunday, July 19, that would enable the middle market lender to avoid filing for bankruptcy. After a week of unsuccessful negotiations with regulators over a possible government rescue package, the company was left with few options. Media reports over the weekend suggested that CIT would file a Chapter 11 petition on Monday if the emergency loan falls through. 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. 382 in-depth reports of Bankruptcies in the Financial Services sector 253 in-depth reports of PE deals in the Financial Services sector from the past year 242 in-depth reprts of Bankruptcies advised by Skadden, Arps, Slate, Meagher & Flom LLP 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 Skadden Arps Concho Resources Pinnacle Foods Agrium Inc. Birds Eye Cantor Fitzgerald LP Credit Suisse Windstream Corp. MBIA Inc.		EXISTING USERS Username Password Forget your password? Missing a product?

Sales Contact Michael Crosby mcrosby@thedeal.com 212.313.9325	Media Contact Martha Brown mbrown@thedeal.com 212.313.9218
Signing in signifies that you agree to our terms and conditions. View our privacy policy.