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CIT Group bonds fall sharply amid liquidity talks

Mon Jul 13, 2009 8:46am EDT

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NEW YORK, July 13 (Reuters) - Bonds of CIT Group Inc (CIT.N) fell more than 8 points on Monday after the U.S. commercial lender said on Sunday it remained in discussions with regulators on measures to improve liquidity.

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CIT Group Funding Co of Canada's 5.2 percent notes due in 2015 fell to 54 cents from 62.6 cents on Friday, according to MarketAxess. CIT Group Inc's 5 percent notes due in 2014 fell to 48 cents on the dollar from 57 cents on Friday.

The Wall Street Journal reported over the weekend that the company had hired a top law firm to explore a possible bankruptcy filing. For details click on [ID:nBNG44695]. (Reporting by Dena Aubin; Editing by Theodore d'Afflisio)

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