2009-07-21 — housingwire.com
CIT Group (CIT: 1.009 -19.28%) confirmed late Monday a group of the company’s major bondholders agreed to lend it $3bn to continue its lending operations to small- and medium-sized businesses that depend on it.
Of the loan facility, which matures in 2.5 years, $2bn was made accessible Monday with an additional $1bn expected to be committed and available within 10 days of the announcement.
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