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New Issue-CIT Group sells $2 bln in 2 parts
May 2, 2012 / 4:10 PM / 5 years ago

New Issue-CIT Group sells $2 bln in 2 parts

May 2 (Reuters) - CIT Group Inc. on Tuesday sold $2
billion of two-part senior unsecured notes, said IFR, a Thomson
Reuters service. 	
    Bank of America Merrill Lynch, Barclays Capital, Credit
Suisse, Morgan Stanley, and UBS were the joint bookrunning
managers for the sale.	
	
BORROWER: CIT GROUP	
	
TRANCHE 1	
AMT $1.25 BLN   COUPON 5 PCT       MATURITY    05/15/2017	
TYPE SR NTS     ISS PRICE 100      FIRST PAY   11/15/2012	
MOODY'S B1      YIELD 5 PCT        SETTLEMENT  05/04/2012	
S&P BB-MINUS    SPREAD 417 BPS     PAY FREQ    SEMI-ANNUAL	
FITCH N/A        MORE THAN TREAS   MAKE-WHOLE CALL 50 BPS	
    	
TRANCHE 2	
AMT $750 MLN    COUPON 5.375 PCT   MATURITY    05/15/2020	
TYPE SR NTS     ISS PRICE 100      FIRST PAY   11/15/2012	
MOODY'S B1      YIELD 5.375 PCT    SETTLEMENT  05/04/2012	
S&P BB-MINUS    SPREAD 381 BPS     PAY FREQ    SEMI-ANNUAL	
FITCH N/A        MORE THAN TREAS   MAKE-WHOLE CALL 50 BPS

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