CIT Enters Defense Banking
- Position Reports. // Business & Commercial Aviation;Jul2006, Vol. 99 Issue 1, p114
Career developments involving people related to the aviation industry are discussed. Two financial specialists, Robert Jones and John Donohue, have joined CIT Group Inc.'s new Aerospace and Defense Finance Group. Tom Curtis has been named senior director of the origination team for Republic...
- CIT Unit Reorganizes With Midmarket Focus. Sundaramoorthy, Geeta // American Banker;6/7/2005, Vol. 170 Issue 108, p2
Focuses on CIT Group Inc.'s plans to restructure its commercial finance group in order to be more competitive in the middle market. Plans to create an investment banking unit and reorganize its commercial finance group to concentrate on industries in which CIT has expertise; Comments from...
- CIT Prices $2B in Doubled HY Deal. Sheahan, Matthew // High Yield Report;3/28/2011, Vol. 22 Issue 13, p20
The article reports on the decision of the CIT Group to increase the size of its bond deal, issuing 2 billion U.S. dollars in junk bonds that will be used to retire all of its second-priority senior secured Series A notes due 2013.
- CIT Group Swings to Loss On Steep Prepayment Costs. // American Banker;10/26/2011, Vol. 176 Issue 165, p16
The article discusses the financial performance of CIT Group Inc., which reported a third-quarter 2011 loss of $16.3 million, and the corporate lender's efforts to reduce high-cost debt.
- CIT's Owens Sets Sights on Middle Market. Rozens, Aleksandrs // Investment Dealers' Digest;7/9/2007, Vol. 73 Issue 27, p12
The article provides information concerning the move of CIT Group Inc. in the U.S. The firm's corporate finance group is courting middle-market businesses in hopes of winning mergers and acquisitions (M&A). CIT has hired investment bankers like Gordon Saint Denis and his team of sports and...
- CIT Bankruptcy Begets Different Flavor of DIP Loan. Rozens, Aleksandrs // Bank Loan Report;11/16/2009, Vol. 24 Issue 44, p4
The article reports on the court petition requested by CIT Group Inc. which asked the judge overseeing its case to approve a 500 million dollar senior secured facility. The company states in the document that it needed to use its line of credits (LOCs) in many of its businesses, particularly its...
- CIT Back on Track after Bankruptcy. Fugazy, Danielle // Leveraged Finance News;12/12/2011, Vol. 1 Issue 48, p1
The article reports that CIT Group Inc. has started to recover two years after they filed for bankruptcy in November 2009. CIT corporate finance president Pete Connolly says that during their bankruptcy application, the company was focused on franchise and client retention, but when they started...
- CIT Prepays $500M of Senior Loans. Colter, Allison Bisbey // High Yield Report;7/18/2011, p20
The article focuses on the 500 million U.S. dollars prepaid by CIT Group for its 3 billion first-lien term loan in July 2011, which is part of the 10.5 billion U.S. dollars in first lien and second lien debt eliminated by the company since recovering from bankruptcy in 2009.
- CIT Grows Business. O'Connor, Katie // Bank Loan Report;6/13/2005, Vol. 20 Issue 23, p5
Reports on the plan of CIT Group Inc. to form an investment banking services group in the U.S. Aim of the company to grow its financial services offerings to its base of mid-market clients; Statement of company CEO Jeffrey Peek, regarding the strategy; Plan of the company to move its...