C.I.T. Financial Corp.
| Company Deal | C.I.T. Financial Corporation: debentures |
|---|---|
| Transaction Type | Debentures |
| Deal Description | C.I.T. Financial Corporation offered $75,000,000 4 1/4% debentures in this transaction. Proceeds from the sale were intended to provide additional working funds for the company's subsidiaries, to be used initially to reduce short-term borrowings incurred from purchasing receivables, and for other corporate purposes. The major portion of such funds was made available to the automobile- financing subsidiaries. |