Home › Forums › Financial Markets/Economics › Report: CIT Nears Bankruptcy, CEO to Resign › outtamojo
[quote=outtamojo]http://ir.cit.com/phoenix.zhtml?c=99314&p=irol-SECText&TEXT=aHR0cDovL2NjYm4uMTBrd2l6YXJkLmNvbS94bWwvZmlsaW5nLnhtbD9yZXBvPXRlbmsmaXBhZ2U9NjUzODQ4MSZkb2M9MyZudW09Mjk%3d[/quote]
My interpretation was wrong. Looks like you get 70 cents plus the equity. That’s an awfully skinny restructuring based on the kind of loans CIT carries but, hey, if the bondholders agree to it, then so be it. It’s their money, after all.
