As part of an ongoing effort to refinance and reduce its debt post-bankruptcy, CIT Group Inc., a leading provider of financing to small businesses and middle market companies, announced Dec. 22 that it will redeem an additional $2 billion of 7% Series A Second Lien Notes, including the $1.6 billion remaining balance of its Notes maturing in 2015 and approximately $400 million of its Notes maturing in 2016. Following this redemption, approximately $1.5 billion principal amount of the Notes maturing in 2016 and approximately $2.9 billion principal amount of the Notes maturing in 2017 will remain outstanding.
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