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CIT Group Inc (CIT.N)

CIT.N on New York Stock Exchange

49.91USD
20 Oct 2017
Change (% chg)

$0.63 (+1.28%)
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Latest Key Developments (Source: Significant Developments)

DyDo Group Holdings unit to acquire 80 pct stake in Merpez
Monday, 16 Oct 2017 04:24am EDT 

Oct 16(Reuters) - DyDo Group Holdings Inc <2590.T>:Says its 90 percent-owned Turkey-based unit Della Gıda Sanayi ve Ticaret A.Ş. will acquire 80 percent stake in Turkey-based company Merpez Ticaret Turizm Gıda Tarım Pazarlama Emlak İnşaat Sanayi İthalat ve İhracat Limited Şirketi(Merpez), which is mainly engaged in manufacture and sales of mineral water .Says amount of investment in Merpez for the acquisition is 23.4 million Turkish liras (725 million yen).Says the acquisition will close in late November .  Full Article

CIT announces early results of its previously announced cash tender offer of unsecured notes
Friday, 29 Sep 2017 07:00am EDT 

Sept 29 (Reuters) - CIT Group Inc :CIT announces early results of its previously announced cash tender offer of unsecured notes.  Full Article

CIT announces cash tender offer for $800 million of unsecured notes
Friday, 15 Sep 2017 07:01am EDT 

Sept 15 (Reuters) - CIT Group Inc ::CIT announces cash tender offer for $800 million of unsecured notes.CIT Group Inc - ‍ tender offer is scheduled to expire at 11:59 p.m., New York city time, on Oct. 13, 2017​.CIT Group Inc - ‍early payment date will be determined at cit's option and is currently expected to occur on or about Sept. 29, 2017​.CIT Group Inc - ‍CIT expects to use cash and available liquidity to purchase notes pursuant to tender offer​.  Full Article

CIT Q2 earnings per share $0.68 from cont. ops excluding items
Tuesday, 25 Jul 2017 06:30am EDT 

July 25 (Reuters) - Cit Group Inc :Cit announces second quarter 2017 results.Q2 earnings per share $0.68 from continuing operations excluding items.Q2 earnings per share $0.22 from continuing operations.Q2 earnings per share $0.85.Cit group inc - ‍remain on track to reduce annual operating expenses by $150 million by 2018​.Cit group inc - ‍definitive agreement to sell nacco, our european rail leasing business​.Nacco is cit's last remaining ongoing business outside of north america.Cit group - ‍preliminary common equity tier 1 capital ratio increased to 14.4%, preliminary total capital ratio increased to 16.2%, at june 30, 2017​.Cit group inc - ‍"remain focused on executing our plan to achieve a 10 percent rotce by end of 2018​".Cit group inc - ‍tangible book value per common share at june 30, 2017, was $46.34​.Cit group inc - qtrly ‍​ net finance revenue $390 million versus $434 million.Cit group inc - ‍allowance for loan losses was $426 million at june 30, 2017, compared to $449 million at mar. 31, 2017​.  Full Article

CIT Provides $20 Million Financing to CTI Towers
Thursday, 13 Jul 2017 12:00pm EDT 

July 13 (Reuters) - CIT Group Inc ::Says CIT Communications & Technology Finance provided $20 million delayed-draw term loan to CTI Towers.  Full Article

CIT BANK enters into strategic partnership with Allstate
Monday, 10 Jul 2017 04:52pm EDT 

July 10 (Reuters) - CIT Bank ::CIT Bank (not cit group inc) - CIT Northbridge will be a financial partner for middle-market companies.CIT Bank enters into strategic partnership with Allstate.CIT Bank - joint venture will provide revolving, term-loan commitments from $15 million to $100 million to middle-market companies across various industries, business cycles.CIT Bank - CIT Asset Management LLC will serve as investment advisor to the joint venture.  Full Article

CIT announces $550 mln of additional capital actions
Thursday, 15 Jun 2017 08:30am EDT 

June 15 (Reuters) - Cit Group Inc :Announced additional actions that return $550 million of capital through an open market repurchase program, accelerated share repurchase agreement.Entered into an ASR with Morgan Stanley to repurchase $512 million of CIT's common shares​.$550 million capital return funded using proceeds of $325 million preferred stock issuance, proceeds of sale of commercial aircraft leasing business.Under terms of ASR, CIT will pay Morgan Stanley $512 million in exchange for initial delivery of about 9.25 million CIT common shares.  Full Article

CIT announces cash tender offer for up to $2.75 mln of its common stock
Thursday, 27 Apr 2017 06:00am EDT 

April 27 (Reuters) - CIT Group Inc ::CIT announces cash tender offer for up to $2,750,000,000 of its common stock.CIT Group Inc - offer will expire on expiration date, which is 11:59 p.m., New York City Time, on may 24, 2017.CIT Group Inc - purchase price will be lowest price per share (in increments of $0.25) of not greater than $48.00 and not less than $43.00 per share.  Full Article

CIT Q1 earnings per share $0.80 excluding items
Tuesday, 25 Apr 2017 06:30am EDT 

April 25 (Reuters) - Cit Group Inc :Cit announces first quarter 2017 results.Q1 earnings per share $0.54 from continuing operations excluding items.Q1 earnings per share $0.80 excluding items.Q1 earnings per share $0.38 from continuing operations.Q1 earnings per share $0.88.Cit group inc - tangible book value per share increased to $46.09 at mar. 31, 2017.Cit group inc- allowance for loan losses was $449 million at mar. 31, 2017, compared to $433 million at dec. 31, 2016.Cit group inc - in quarter, redemption of $4.84 billion in unsecured debt to settle on may 4, 2017 and completed tender offer for $969 million.Cit group inc- preliminary common equity tier 1 and total capital ratios at mar. 31, 2017, increased to 14.3% and 15.1%, respectively.Qtrly interest income $ 456 million versus. $ 483 million.Cit group inc- net finance revenue was $417 million in current quarter, compared to $421 million in prior quarter and $442 million in year-ago quarter.  Full Article

Cit says to increase aggregate maximum principal amount of notes from $950 mln to $969 mln
Tuesday, 18 Apr 2017 07:00am EDT 

April 18 (Reuters) - Cit Group Inc :Cit announces early results of its previously announced cash tender offer of unsecured notes.Cit group inc says to increase aggregate maximum principal amount of notes that may be accepted for purchase in tender offer from $950 million to $969 million.  Full Article

BRIEF-CIT announces early results of its previously announced cash tender offer of unsecured notes

* CIT announces early results of its previously announced cash tender offer of unsecured notes Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)