CIT Group Sells $3 Billion Bonds to Pay Back Outstanding Debt
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CIT Group Inc., the small-business lender that exited bankruptcy two years ago, sold $3 billion of bonds to pay back debt.
The company sold $1.75 billion of 4.25 percent, five-year notes to yield 364 basis points more than similar-maturity Treasuries and $1.25 billion of 5 percent, 10-year bonds at a relative yield of 350 basis points, according to data compiled by Bloomberg.