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CIT Group Inc (CIT.N)

CIT.N on New York Stock Exchange

54.14USD
23 Feb 2018
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$0.77 (+1.44%)
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Latest Key Developments (Source: Significant Developments)

CIT Group, Units Enter Into Amendment To Credit Agreement
Wednesday, 21 Feb 2018 07:53am EST 

Feb 21 (Reuters) - Cit Group Inc ::CIT GROUP SAYS ON FEB 16, CO & UNITS ENTERED INTO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT, DATED AS OF FEB 16, 2018.CIT GROUP SAYS CHANGES EFFECTED BY AMENDMENT INCLUDE EXTENSION OF FINAL MATURITY DATE OF COMMITMENTS OF ALL BUT ONE OF LENDERS TO FEB 29, 2020.CIT GROUP INC - ‍NON-EXTENDING LENDER'S COMMITMENTS OF APPROXIMATELY $42 MILLION WILL TERMINATE ON JANUARY 25, 2019​.CIT GROUP SAYS CHANGES EFFECTED BY AMENDMENT INCLUDE REDUCTION OF LENDERS TOTAL COMMITMENTS FROM $750 MILLION TO $500 MILLION ON EFFECTIVE DATE - SEC FILING.  Full Article

CIT Group Inc Files For Potential Mixed Shelf Offering
Friday, 8 Dec 2017 05:48pm EST 

Dec 8 (Reuters) - CIT Group Inc ::CIT GROUP INC FILES FOR POTENTIAL MIXED SHELF OFFERING; SIZE NOT DISCLOSED - SEC FILING.  Full Article

CIT, Ocwen Agree To Resolve Claims Filed In Demand For Arbitration
Monday, 4 Dec 2017 05:53am EST 

Dec 4 (Reuters) - Cit Group Inc ::CIT GROUP SAYS ON NOV 22, OCWEN LOAN SERVICING AGREED TO A $29.9 MILLION SETTLEMENT TO RESOLVE CLAIMS FILED IN DEMAND FOR ARBITRATION AGAINST CO ON AUG 12, 2016.CIT GROUP INC SAYS THE $29.9 MILLION SETTLEMENT WILL NOT HAVE A MATERIAL EFFECT ON CO'S FINANCIAL CONDITION OR RESULTS OF OPERATIONS - SEC FILING.  Full Article

CIT reports Q3 earnings per share $1.61
Tuesday, 24 Oct 2017 06:30am EDT 

Oct 24 (Reuters) - CIT Group Inc :CIT announces third quarter 2017 results.Q3 earnings per share $1.02 from continuing operations excluding items.Q3 earnings per share $1.64 from continuing operations.Q3 earnings per share $1.61.CIT Group Inc - ‍Remain on track to reduce annual operating expenses by $150 million by 2018​.CIT Group Inc - ‍Increased quarterly common stock dividend by 7% to $0.16 per share​.CIT Group Inc - Qtrly ‍net interest revenue $277 million versus $288 million ​.CIT Group Inc - Qtrly net finance revenue was $401 million compared to $390 million in the prior quarter‍​.CIT Group - ‍Preliminary common equity tier 1 capital ratio decreased to 14.0% at Sept. 30, 2017​.CIT Group Inc - ‍Preliminary total capital ratio decreased to 15.7% at Sept. 30, 2017​.CIT Group Inc - ‍Allowance for loan losses was $420 million at Sept. 30, 2017, compared to $426 million at June 30, 2017​.  Full Article

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

BRIEF-CIT Group, Units Enter Into Amendment To Credit Agreement

* CIT GROUP SAYS ON FEB 16, CO & UNITS ENTERED INTO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT, DATED AS OF FEB 16, 2018