Icahn says offered $6 bln loan to CIT

NEW YORK Oct 19 (Reuters) - Famed corporate raider Carl Icahn on Monday said he offered to underwrite a $6 billion loan to troubled lender CIT Group Inc (CIT.N), complaining the horse-trading between the company and its largest creditors has become too expensive and harms other bondholders.

In a letter to CIT's board, Icahn said the cash-strapped commercial lender is "shamelessly" offering certain large bondholders the opportunity to purchase $6 billion in secured loans well below their fair market value.

The billionaire investor, who has made himself a champion for corporate governance, said the offer to large creditors comes at the expense of thousands of smaller bondholders.

"This is reminiscent of the old Tammany political machine's vote-getting tactics," wrote Icahn, who was not immediately available for further comment.

Icahn offered to underwrite a $6 billion loan which he said would save the company as much as $150 million in fees to prospective lenders as set under the company's proposal. Icahn contends other banks also would be eager to underwrite the financing if they were not required to approve CIT's reorganization.

(Reporting by Joseph A. Giannone; Editing by Derek Caney)