CIT Announces Cash Tender Offer For Up To $950 million of Unsecured Notes
CIT Group Inc (DEL) (CIT)
Last cit group inc (del) earnings: 4/21 06:00 am
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US:NYSE Investor Relations:
ir.cit.com
Company Research
Source: PR Newswire
NEW YORK, April 4, 2017 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) ("CIT" or the "Company"), today announced that it has commenced an offer to purchase for cash (the "Tender Offer"), subject to certain terms and conditions, up to a total of $950 million aggregate principal amount of its outstanding (i) 5.500% Series C Unsecured Notes due 2019 (the "2019 Notes"), (ii) 5.375% Senior Unsecured Notes due 2020 (the "2020 Notes") and (iii) 5.000% Senior Unsecured Notes due 2022 (the "2022 Notes" and, together with the 2019 Notes and the 2020 Notes, the "Notes"), subject to the Series Cap (as defined below) for both the 2020 Notes and the 2022 Notes (together, the "Capped Notes"). The terms and conditions of the Tender Offer are described in an Offer to Purchase dated April 4, 2017 (the "Offer to Purchase") and a related Letter of Transmittal (together, the "Offer Documents"). Holders of the Notes are urged to carefully read the Offer Documents before making any decision with respect to the
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