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CIT Announces Pricing of $750MM Senior Unsecured Notes

July 26, 2013, 07:07 AM
Filed Under: Industry News

CIT Group announced the pricing of a public offering of $750 million aggregate principal amount of senior unsecured notes due 2023 that will bear interest at a per annum rate of 5.00%. The Notes priced at 99.031% of the principal amount to yield 5.125% per annum and will be senior unsecured obligations of CIT. CIT expects the offering to close on or about August 1, 2013, subject to customary closing conditions. CIT plans to use the net proceeds from the offering of the Notes for general corporate purposes.

The joint bookrunning managers for the offering are Barclays Capital Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.

CIT has filed a shelf registration statement with the U.S. Securities and Exchange Commission (SEC) for the offering of the Notes.

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