CIT Prepays Additional $1.5 Billion of First Lien
April 30, 2010 12:46 PM Eastern Daylight Time
NEW YORK--(EON: Enhanced Online News)--CIT Group Inc. (NYSE: CIT), a leading provider of financing to
small businesses and middle market companies, today prepaid an additional $1.5 billion of its first lien credit facility.
The Company has now repaid 30% of its first lien debt and $5.25 billion remains outstanding.
The Company prepaid this high cost debt with available holding company cash. The voluntary prepayment was made
on a pro rata basis across outstanding tranches and was subject to the applicable 2% payment premium.
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Founded in 1908 and headquartered in New York City, CIT (NYSE: CIT) is a bank holding company with
approximately $45 billion in finance and leasing assets that provides financial products and advisory services to small
and middle market businesses. Operating in more than 50 countries across 30 industries, CIT provides an
unparalleled combination of relationship, intellectual, and financial capital to its customers worldwide. CIT maintains
leadership positions in small business and middle market lending, factoring, retail finance, aerospace, equipment and
rail leasing, and vendor finance. www.cit.com
CIT MEDIA RELATIONS:
C. Curtis Ritter, 212-461-7711
Director of External Communications & Media Relations
Ken Brause, 212-771-9650
Executive Vice President