Global financial services firm CIT has raised
$753m (€570m) in a securitisation deal backed by its leasing arm
CIT Vendor Finance.
CIT has closed the six-tranche, fixed-rate
private offering and said it will use the proceeds to refinance an
existing conduit and for general corporate purposes.
Barclays and Deutsche Bank Securities served
as joint bookrunners on the transaction which was the 11th vendor
finance-backed securitisation CIT has completed since 2000.