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CIT shores up trade finance unit
03 August 2009
CIT Group is providing its trade finance unit with one-third of the $3 billion it obtained from bondholders in an effort to continue to meet client needs.
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CIT trade finance
CIT factoring
CIT Group
Lehman Brothers
asset transfer
CIT Group will provide its trade finance unit with $1 billion of the $3 billion it obtained from its bondholders.
Proceeds will be used to shore up CIT Trade Finance and meet client needs as the parent group struggles to avoid filing for bankruptcy.
The trade finance business is one...
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