C.I.T. Financial Corp. Deal - Lehman Brothers Collection
C.I.T. Financial Corp.
|Company Deal||C.I.T. Financial Corporation: debentures|
|Deal Description||C.I.T. Financial Corporation offered $50,000,000 4% debentures in this transaction. Proceeds from the sale were added to the working capital of the corporation. The corporation expected to use such increased resources primarily for the purpose of furnishing additional working funds to its subsidiaries. Such additional funds in the hands of the subsidiaries would be available for the purchase of motor and other retail installment receivables, wholesale receivables, factoring receivables, miscellaneous other receivables, and for other corporate purposes. The corporation intended that the major portion of such funds would be made available to subsidiaries operating in the field of automobile financing.|
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