TITLE

CIT Closes $2B Revolver

AUTHOR(S)
Sheahan, Matthew
PUB. DATE
August 2011
SOURCE
High Yield Report;8/29/2011, p7
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the closing of CIT Group's new 2 billion U.S. dollar revolving credit facility with a bank syndicate. The proceeds were used to repay the remainder of its 3 billion dollar first-lien term loan. CIT has emerged from bankruptcy in 2009 and has refinanced or eliminated more than 13 billion dollars of first-lien and second-lien debts since 2010.
ACCESSION #
66187680

 

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