http://www.reuters.com/article/innovationNews/idUSTRE5907JN20091001?feedType=RSS&feedName=innovationNews
Thu Oct 1, 2009 7:46pm EDT
NEW YORK (Reuters) - CIT Group Inc's board approved a restructuring plan on Thursday, clearing the way for the commercial lender to launch a large debt exchange offer or to file for prepackaged bankruptcy if that failed, a person knowledgeable about the matter said.
CIT, which caters to small and mid-sized businesses, could announce the plan as soon as Thursday night, this person said, declining to be identified because the talks are not public yet.
(Reporting by Paritosh Bansal; editing by Carol Bishopric)
=> Will CIT able to generate close to $6B additional fund? no matter what, it may have some short term impact to the equity market, but i don't think it will affect the 2009 nor future profit of the overall banking industry.
10.02.2009
Subscribe to:
Post Comments (Atom)
The information provided in the entire blog is not intended to provide legal, accounting, tax or specific investment advice. The information presented was obtained from sources believed to be reliable; however, I cannot represent that it is accurate or complete. I assume no responsibility for any losses, whether direct, special or consequential, that arise out of the use of this information. This information is subject to change without notice. Stock performance are not guaranteed, their prices change frequently and past performance may not be repeated. Please do your own investigation, or contact your own professional advise, before investing.
No comments:
Post a Comment