<< Read Full Article
<< Read Full Article
CIT Group(CIT Quote) rallied as much as 15% Monday, after Goldman Sachs(GS Quote) provided a $3 billion line of financing.
The capital infusion will enable CIT Financial, a subsidiary of CIT Group, to finance commercial loans, equipment contracts, FFELP student loans, aircraft or rail leases and even private student loans. CIT will pay Goldman 2.85% and may not include any securities backed by home mortgage loans. It is a 20-year facility, but with a 15-year average weighted life.
"We view this transaction as another important milestone in achieving our desired financing profile," Chairman and CEO Jeffrey Peek said in a company statement. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,328.89 | 1,102.47 | 2,211.69 | 35.46 |
Oil *
73.88
|
|
UP
20.63
|
UP
6.40
|
UP
31.64
|
UP
0.59
|
10 Yr
3.55%
SPDR Gold
108.95
|
|
+0.20%
|
+0.58%
|
+1.45%
|
+1.69%
|
Data delayed 20 minutes |
Connect with TheStreet