In Brief: CIT Group Holdings Files for $6B of Debt

WASHINGTON - CIT Group Holdings Inc., a unit of Dai-Ichi Kangyo Bank Ltd. and Chemical Banking Corp., filed a shelf registration with the Securities and Exchange Commission to offer up to $6 billion of debt securities.

CIT said that, with previous registrations, it would have up to $8.51 billion of debt securities available for sale. These could be either senior or senior subordinated securities.

Net proceeds from the sale of debt securities will supply working funds for CIT Group Holdings and its subsidiaries and will be used initially to reduce short-term borrowings, the company said.

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