Market waits to see how CIT's bond issue will price

03/1/2010 | Wall Street Journal, The

CIT Group's $667 million bond issue, backed by equipment leases, is expected to price early this week. The issue, CIT's first after emerging from bankruptcy and one of the last backed by the Term Asset-Backed Securities Loan Facility, will give investors an indication of how the market views the company. According to rumors, the bond will price 80 to 85 basis points over Eurodollar Synthetic Forward Rates.

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Wall Street Journal, The