CIT Group (CIT)

CIT Group Inc. said today it has expanded its current $3 billion senior secured credit facility by an additional $4.5 billion. The new $4.5 billion tranche, which is being provided by a diverse group of lenders, including many of the Company’s bondholders, will be secured by substantially the same assets as the existing $3 billion tranche and any additional collateral that becomes available as a result of the Company’s refinancing of certain existing secured credit facilities.
This financing should head off more threats of bankruptcy.

Oct 28 · 3:57:00 PM · Source: Company News Release
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by Larry Etter