9:45am: CIT Group board OKs $3 billion rescue (Tribune Chronicle)
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NEW YORK (AP) – CIT Group Inc.’s board approved a deal with major bondholders to keep the company out of bankruptcy with a $3 billion rescue loan, according to published reports. The emergency loan gives the commercial lender some desperately needed breathing room to refinance maturing debt amid a major liquidity squeeze. Shares of CIT Group jumped 59 cents, or 84 percent, to $.
Assets may be sold to refinance debt (Irish Examiner)
PROPERTY developer Liam Carroll may sell assets including his stakes in Greencore Group and Irish Continental Group to help refinance more than 1bn in debt, the Sunday Business Post reported yesterday, without citing its source.
NABARD Cuts Refinance Rates On Investment Credit By 50 BPs (Nasdaq)
MUMBAI -(Dow Jones)- India’s National Bank for Agriculture and Rural Development, or NABARD, said Monday it has cut its refinance rates on loans given by banks for investments in rural areas by 50 basis points.
