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CIT To Strike Deal With Bondholders?

CIT Group's board reached an agreement with bondholders on Sunday night for $3 billion in rescue financing. The liquidity facility carries a 2.5 year term and portions will be available immediately. The funds should help the company stave off a chapter 11 bankruptcy filing at least in the short-term, according to sources familiar with the talks. CIT is also planning a cash tender offer for outstanding senior notes in August as part of a broader recapitalization plan.

In The News

The Rio Arrests: Poor Judgment by China?

China's arrest of four Rio Tinto employees on charges of industrial espionage was

Survey: U.S. Employers Against Obamacare

According to a new survey conducted by Aon, the majority of employers across

The Early Verdict on Ben Bernanke

Although the economy is still battered, economists are beginning to draw conclusions about

Video Archives - July 2009