CORRECTED - UPDATE 1-CIT raises purchase price for tender offer

(Corrects second bullet point to Aug. 5)

* Received tenders for 64.97 percent of notes

* Extends offer deadline to midnight Aug. 5

NEW YORK, Aug 3 (Reuters) - CIT Group Inc (CIT.N) said on Monday it raised the purchase price in its tender offer for senior notes due this month.

The lender, which has struggled to meet short-term liquidity requirements amid rising loan losses, raised the purchase price to $875 for each $1000 in principal amount of notes tendered, from $825.

CIT said that as of July 31, the original offer deadline, it had received tenders for 64.97 percent of the notes, and it has extended the deadline until midnight, Aug. 5.

New York-based CIT launched the original cash tender offer on July 20 for $1 billion of outstanding floating rate senior notes due Aug. 17, as the first part of a recapitalization plan.

The company, which lends to small and medium-sized businesses, said any bondholders that tendered before the expiration of the offer will receive the amended purchase price. (Reporting by Elinor Comlay; Editing by Steve Orlofsky)