CIT begins tender for 2.969% fixed-to-floating notes due 2025

By Rebecca Melvin

New York, May 26 – CIT Bank NA, the banking subsidiary of CIT Group Inc., announced it has commenced a cash tender offer to purchase any and all of its $550 million outstanding of 2.969% senior fixed-to-floating rate notes due 2025.

The tender offer expires 5 p.m. ET on June 1 and is not conditional on a minimum amount of notes being tendered.

The purchase price per $1,000 principal amount of notes is $930 plus accrued interest up to but excluding the June 4 settlement date, according to a company news release on Tuesday.

The dealer manager is J.P. Morgan Securities LLC (212 834-4087 or 866 834-4666).

The tender agent is D.F. King & Co. Inc. (800 628-8532 or 212 269-5550; cit@dfking.com).

The bank holding company is based in New York.

© 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.