WSJ : CIT cuts deal bondholders for $3 bn in financing,will avoid bankruptcy

Quote from ASusilovic:Just right on time...
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Whew finally... God forbid the market could have had a down day after what feels like 10 up days in a row!! :cool:
 
Quote from zenith1107:

10.5% over LIBOR are you f**king kidding me? How the hell can they pay 10.5% when they can't even pay 1%?? And these are secured financing? Holy mother of Jesus whoever's financing this is getting a sweet ass deal.

Time to short the dumb-retail-induced "rally" if any.
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Nah! I think i'll buy some for a quick trade.
 
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