Reports CIT Group (CIT) In Talks On New $10B Credit Facility

According to reports from Reuters, CIT Group (NYSE: CIT) is in talks on a new $10 billion credit facility, which could help pay off maturing debt and stave off bankruptcy, citing people familiar with the matter.

The details of the facility are still being negotiated, and its size might be substantially smaller than $10 billion or even zero if the company successfully renegotiates the terms of some of its existing credit lines.

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