logo
Share SHARE
FONT-SIZE Plus   Neg

CIT To Redeem $2 Bln Of 7% Series C Senior Unsecured Notes Maturing In 2017

CIT Group Inc. (CIT) announced that it will redeem $2 billion of its 7% Series C Senior Unsecured Notes maturing in 2017.

Following this redemption, approximately $3.1 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, CIT Group said.

CIT Group said, including the redemption announced today, that it will have eliminated or refinanced approximately $26 billion of high cost debt since the beginning of 2010.

The company stated that it has provided a redemption notice for the 7% Notes to the trustee and intends to complete the redemption on June 4, 2012. As provided under the terms of the 7% Notes, the company will redeem the outstanding principal balance at par and will be redeemed on a pro-rata basis among all of the 2017 Notes, CIT Group said.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Hampton Farms has voluntarily recalled Ava's brand organic cashews for potential Listeria contamination. The Organic Cashews Roasted & Salted 8 oz. tubs were distributed in New Jersey, New York, Pennsylvania and Connecticut. As per the recall statement, fewer than 225 units of this product were offered for retail sale. Maternity leave is a temporary period of absence from employment granted to expectant or new mothers during the months immediately before and after their pregnancy. Parental leave, including maternity, paternity and adoption leave, is an employee benefit. Many countries around the world, including... Texas, the second largest state in the U.S., has four of the five fastest-growing cities in the U.S., according to new population estimates released Thursday by the U.S. Census Bureau for the twelve months up to July 1, 2016. Ten of the fifteen fastest growing large U.S. cities during that 12-month span were in the South, according to the Census Bureau.
comments powered by Disqus
Follow RTT