Six months since they got a quickie divorce, CIT Group ( CIT) and Tyco International ( TYC) continue to have an amicable business relationship. A recently filed annual report for CIT reveals that the finance firm and Tyco continue to do business with one another, despite CIT's oft-stated goal of putting some distance between itself and the scandal-tarred corporate conglomerate, which spun off CIT this summer in a $4.6 billion initial public offering. One of the biggest transactions is a factoring deal, or specialized financing transaction, in which CIT purchased $350 million in receivables -- outstanding bills -- from several Tyco subsidiaries. The deal, which closed on Sept. 30, comes close on the heels of several other factoring deals that generated $384 million in cash for Tyco. Factoring is a staple business of specialized-finance firms like CIT. It's also a way for company to turn some of its outstanding IOUs from customers into cold cash, and that's something debt-laden Tyco badly needs. In a typical factoring deal, a finance firm provides a manufacturer a cash payment for the right to collect on bills or other accounts receivables owed by some of the company's customers. The finance firm buys the accounts receivable at a discounted price, since there's no guarantee it will be able to collect on all the outstanding obligations. CIT also has entered into $29.3 million in equipment leases with some Tyco affiliates. CIT, two months before its IPO on July 1, assumed a $16 million "third-party corporate aircraft lease" from Tyco. CIT and Tyco also have an agreement in which Tyco may refer some of its customers to CIT to arrange financing deals. It seems the brief one-year marriage between CIT and Tyco may be over, but there are still some ties that bind them.