NEW YORK, Jan. 26 /PRNewswire-FirstCall/ -- CIT Group Inc. , a leading provider of consumer and commercial finance solutions, and CIT Funding Company of Canada ("CITGF"), a wholly owned subsidiary of CIT, today announced the completion of its offer to exchange $1,000,000,000 aggregate principal amount of newly issued 4.65% Senior Notes due 2010 and $700,000,000 aggregate principal amount of newly issued 5.20% Senior Notes due 2015, which have been registered under the Securities Act of 1933, as amended, for any and all outstanding 4.65% Senior Notes due 2010 (the "existing 4.65% Senior Notes") and 5.20% Senior Notes due 2015 (the "existing 5.20% Senior Notes").
Prior to the expiration of the exchange offer at 5:00 p.m., New York City time, on January 20, 2006 (the extended expiration date of the exchange offer), $990,490,000 aggregate principal amount of the existing 4.65% Senior Notes and $700,000,000 aggregate principal amount of the existing 5.20% Senior Notes were tendered and received for exchange.
This announcement is not an offer to exchange, or a solicitation of an offer to exchange, with respect to any securities. The exchange offer was made solely by the prospectus dated December 15, 2005.
About CIT:
CIT Group Inc. , a leading commercial and consumer finance company, provides clients with financing and leasing products and advisory services. Founded in 1908, CIT has over $60 billion in assets under management and possesses the financial resources, industry expertise and product knowledge to serve the needs of clients across approximately 30 industries worldwide. CIT, a Fortune 500 company and a component of the S&P 500 Index, holds leading positions in vendor financing, factoring, equipment and transportation financing, Small Business Administration loans, and asset- based lending. With its Global Headquarters in New York City, CIT has approximately 6,000 employees in locations throughout North America, Europe, Latin and South America, and the Pacific Rim. For more information, visit http://www.cit.com/.
First Call Analyst:
FCMN Contact: jrenninger@fd-us.com