CIT Group (CIT) confirms its rescue deal and the terms: a 2.5-year maturity on a $3B loan, $2B...

|About: CIT Group Inc. (CIT)|By:, SA News Editor

CIT Group (CIT) confirms its rescue deal and the terms: a 2.5-year maturity on a $3B loan, $2B of which is available today. The lender announced a tender for debt due Aug. 17 where it would pay creditors $0.82/dollar and canceled its Thursday earnings release. Shares +4% AH.