Oct. 27 (Bloomberg) — Carl Icahn , who says he’s the largest bondholder of CIT Group Inc. with $2 billion of debt, is offering to limit the downside for smaller noteholders if they support him in opposing the lender’s $30 billion debt exchange.
Icahn offers to buy outstanding CIT Group debt (AP via Yahoo! News)
Billionaire investor Carl Icahn offered Tuesday to buy certain classes of debt from CIT Group Inc. bondholders as he tries to thwart a restructuring plan by the commercial lender.
Dubai Said to Restrict Planned Bond to Islamic Debt (Update1) (Bloomberg)
Oct. 27 (Bloomberg) — Dubai plans to limit its first international debt sale in 18 months to Islamic bonds after setting up a $6.5 billion program to sell medium-term notes, according to a banker involved in the deal.
Icahn Offers to Buy Outstanding CIT Group Debt (ABC News)
Icahn makes offer to purchase CIT Group debt if bondholders agree to reject restructuring plan
Icahn offers to buy outstanding CIT Group debt (San Francisco Chronicle)
Billionaire investor Carl Icahn offered Tuesday to buy certain classes of debt from CIT Group Inc. bondholders as he tries to thwart a restructuring plan by the commercial lender. Icahn said in a letter he will pay those bondholders 60 cents on the dollar for… Sponsored Topics: CitGroup – CarlIcahn – Loan – Debt – Business
Fund Manager Pellegrini Says Shorting U.S Debt ‘Attractive Bet’ (Bloomberg)
Oct. 27 (Bloomberg) — Paolo Pellegrini , the former Paulson & Co. hedge-fund manager who helped make more than $3 billion with bets on a U.S. housing crash, said shorting long-term U.S. debt is the “only attractive bet” for investment.
CIT Group Said to Be in Talks to Amend $29 Billion Debt Swap (Bloomberg)
Oct. 15 (Bloomberg) — CIT Group Inc. , the 101-year-old commercial lender seeking to avoid collapse, is in talks with some bondholders to amend terms of its $29 billion debt exchange, according to people familiar with the matter.
CIT's $5.7B debt reduction plan may fall short (Dealscape – Pipeline)
CIT Group Inc.’s proposed debt restructuring, aimed at paring the lender’s $31 billion in unsecured debt by about $5.7 billion, may not sufficiently address its longer term problem of access to unsecured commercial paper.
CIT debt swap could cost U.S. more than $1.8 billion (Reuters via Yahoo! News)
If CIT Group exchanges its debt under an offer aimed at averting a bankruptcy filing, the U.S. government could lose nearly 80 percent of its $2.33 billion investment in the troubled commercial lender.
CIT Bond, Swaps Prices Signal Concerns Debt Exchange May Fail (Bloomberg)
Oct. 2 (Bloomberg) — CIT Group Inc. bond and credit- default swap prices show that investors are speculating the 101- year-old commercial lender’s debt exchange won’t prevent it from filing for bankruptcy.
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