CIT Group to repay $750 million of first-lien bank debt on Tuesday

By Sara Rosenberg

New York, Feb. 8 - CIT Group Inc. plans to prepay $750 million of its $7.5 billion first-lien credit facility on Tuesday, according to a news release.

The repayment will be made on a pro rata basis among outstanding tranches and will be subject to the applicable 102 payment premium.

Funds for the paydown will come from available cash at the holding company.

CIT is a New York-based provider of financing to small businesses and middle-market companies.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.