CIT shops benchmark 10-year notes at 5¼% area yield for Thursday

By Paul A. Harris

Portland, Ore., July 25 - CIT Group Inc. is talking a benchmark-sized offering of 10-year senior notes (Ba3/BB-) with a yield in the 5¼% area, according to market sources.

The public offering is set to price later Thursday.

J.P. Morgan Securities LLC, Barclays, Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC are the bookrunners.

Blaylock Robert Van LLC, CastleOak Securities LP, Drexel Hamilton and Mischler Financial Group Inc. are the co-managers.

Proceeds will be used for general corporate purposes.

CIT Group is a New York-based bank holding company.

© 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.