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CIT has been 1.8 billion yuan credit line vendor financing ChinaUpdate: 2011-06-13

  NEW YORK - ( American Business Information ) - the leading small and middle market corporate finance provider CITGroupInc. (New York Securities Exchange code: CIT) today announced that it has received 1.8 billion yuan (2.75 billion U.S. dollars) credit vendor financing China limit, a move that CITVendorFinance (CIT vendor financing sector) in China to extend new loans . The line of credit commitment is valid until June 2013, each lending the final repayment period of 3 years.
  The company's chairman and chief executive officer JohnA.Thain said: "This transaction is that we continue to promote international financing strategy for the global operations to support another to prove. The line of credit to expand business in China in our territory at the same time further strengthen our ability to provide loans to enterprises. "
  CITVendorFinance AdrianPang Asia Managing Director said: "As Asia's leading provider of vendor financing solutions, we are very pleased with a number of leading Chinese bank cooperation, and finally reach a deal. The line of credit to support CITVendorFinance doing business in China will play important role. "
  In addition to this line of credit outside, CITGroupInc successful 100 million pounds is also the UK supplier of pipe line of credit financing, and recently the company has received 10 billion U.S. credit line supplier financing the extension of pipelines.
  China Bank of Communications as the amount of the credit agency Bank and the Arranger, Bank of China as a joint arrangement of this line of credit.Agricultural Bank of China and Shanghai Pudong Development Bank as the credit line of credit commitment.
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  About CITVendorFinance
  CITVendorFinance (CIT vendor financing) is a leading global solutions provider for manufacturers, distributors and product retail business solutions provider, to provide financial solutions. CIT and a leading manufacturing company to maintain good relations, and develop sales revenue to increase financing options for small and medium markets across various industries provide equipment financing and pricing of goods, high value-added asset disposal services to help these enterprises according to their needs purchase of equipment. / vendorfinance
  About CIT
  CIT (NYSE: CIT) was established in 1908, is a bank holding company with more than 350 billion dollars in financial and leasing assets. It is more than 30 industries over a million small businesses and mid-market customers and their customers to provide financing and leasing services. CIT in the small business and mid market lending, agency, retail finance, aerospace , and rail equipment leasing and financing business in the global suppliers to maintain its leading position.
  Disclaimer: The original version of this announcement is the official licensed version. Used only to facilitate understanding of translation, please refer to the original, the original version is the only legal effect of the release.
  CIT Media Relations C. CurtisRitter ,973-740-5390 Director of Corporate Communications Curt.Ritter @ or MattKlein ,973-597-2020副 president , media relations Matt.Klein @ or CIT Investor Relations: KenBrause ,212 -771-9650 executive vice president of Ken.Brause @

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