CIT Closes $500 Million Financing Facility with Wells Fargo Bank, N.A.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. Group Inc. (NYSE NYSE See: New York Stock Exchange : CIT), a leading global commercial finance company, today announced that it closed on its previously announced $500 million financing facility with Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Bank, N.A. on terms consistent with the commitment letter signed by the parties in September 2008. Under the terms of the five year revolving facility, Wells Fargo has committed to provide CIT with access to $500 million of secured financing. Borrowings under the facility are subject to eligibility criteria, including approval of all loans used as collateral by Wells Fargo. This facility is available to finance both new and existing middle market term and revolving loans. CIT anticipates that it will begin to borrow under this new facility this quarter. EDITOR'S NOTE: Individuals interested in receiving corporate news releases can register at http://newsalerts.cit.com or subscribe to the RSS feed at http://rss.cit.com. In addition, CIT podcasts are available at www.5minutecapital.com. About CIT CIT (NYSE: CIT) is a global commercial finance company that provides financial products and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to more than one million customers in over 50 countries across 30 industries. A leader in middle market financing, CIT has more than $70 billion in managed assets and provides financial solutions for more than half of the Fortune 1000. A member of the S&P 500 and Fortune 500, it maintains leading positions in asset-based, cash flow and Small Business Administration lending, equipment leasing, vendor financing Vendor Financing The lending of money by a company to one of its customers so that the customer can buy products from it. By doing this, the company increases its sales even though it is basically buying its own products. and factoring. The CIT brand platform, Capital Redefined, articulates its value proposition of providing its customers with the relationship, intellectual and financial capital to yield infinite possibilities. Founded in 1908, CIT is celebrating its Centennial throughout 2008. www.cit.com |
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