Media Contact:
Michelle Murray
Chief Marketing Officer
Phone: 212.701.3614
Fax: 212.378.2410
mmurray@cahill.com

Legal News

Cahill Represents Bank of America Merrill Lynch in $7.5 Billion Senior Secured Term Loan Facility for CIT Group

Date: 10/29/09

Cahill represented Bank of America Merrill Lynch as Arranger in connection with CIT Group Inc.'s $4.5 billion expansion of its $3 billion senior secured credit facility. Bank of America Merrill Lynch is the Administrative Agent and Collateral Agent for the full $7.5 billion facility. The proceeds of the new $4.5 billion tranche will be used to refinance a portion of the company's existing secured indebtedness, to provide working capital during its restructuring and for general corporate purposes. The new $4.5 billion tranche matures in January 2012.

Media Contact:
Michelle Murray
Chief Marketing Officer
Phone: 212.701.3614
Fax: 212.378.2410
mmurray@cahill.com