-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, H4DVQxuQM1MSgL7WzKjIzKEpXyCCY6x7UFbyGZlS+4pOcIhOUXdmHhUh5RzLEpfI 9YkOrYMXdi9M2P8uulHflQ== 0000891092-05-001789.txt : 20050915 0000891092-05-001789.hdr.sgml : 20050915 20050915092001 ACCESSION NUMBER: 0000891092-05-001789 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20050914 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050915 DATE AS OF CHANGE: 20050915 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CIT GROUP INC CENTRAL INDEX KEY: 0001171825 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE LESSORS [6172] IRS NUMBER: 651051192 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31369 FILM NUMBER: 051085696 BUSINESS ADDRESS: STREET 1: 1 CIT DRIVE CITY: LIVINGSTON STATE: NJ ZIP: 07039 BUSINESS PHONE: 9737405000 MAIL ADDRESS: STREET 1: 1 CIT DRIVE CITY: LIVINGSTON STATE: NJ ZIP: 07039 FORMER COMPANY: FORMER CONFORMED NAME: CIT GROUP INC DEL DATE OF NAME CHANGE: 20020422 8-K 1 e22464_8k.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) September 14, 2005 CIT GROUP INC. -------------- (Exact name of registrant as specified in its charter) Delaware 1-1861 65-1051192 - -------------------------------------------------------------------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 1211 Avenue of the Americas New York, New York 10036 ------------------------ (Address of registrant's principal executive office) Registrant's telephone number, including area code (212) 536-1211 NOT APPLICABLE (Former Name or Former Address, if Changed Since Last Report) ---------- Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: (see General Instruction A.2. below): |_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ================================================================================ Section 8 - Other Events Item 8.01. Other Events. This Current Report on Form 8-K includes as an exhibit a press release, dated September 14, 2005, reporting the current financing relationship of CIT Group Inc. and its subsidiaries with Delta Air Lines, Inc. CIT's financing relationship with Delta Air Lines, Inc. includes financing and leasing transactions outstanding at the time Delta Air Lines, Inc. filed for protection from creditors under Chapter 11 of the United States Bankruptcy Code. The press release is attached as Exhibit 99.1 and is incorporated by reference herein. This Current Report on Form 8-K includes as an exhibit a press release, dated September 14, 2005, reporting the current financing relationship of CIT Group Inc. and its subsidiaries with Northwest Airlines, Inc. CIT's financing relationship with Northwest Airlines, Inc. includes financing and leasing transactions outstanding at the time Northwest Airlines, Inc. filed for protection from creditors under Chapter 11 of the United States Bankruptcy Code. The press release is attached as Exhibit 99.2 and is incorporated by reference herein. Section 9 - Financial Statements and Exhibits Item 9.01. Financial Statements and Exhibits Exhibits Exhibit 99.1. Press release on Delta Air Lines, Inc. issued by CIT Group Inc. on September 14, 2005. Exhibit 99.2. Press release on Northwest Airlines, Inc. issued by CIT Group Inc. on September 14, 2005. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CIT GROUP INC. (Registrant) By: /s/ William J. Taylor -------------------------- William J. Taylor Executive Vice President & Controller Dated: September 15, 2005 EX-99.1 2 e22464ex991.txt PRESS RELEASEA Exhibit 99.1 [LOGO] Media Contact: Kelley J. Gipson Executive Vice President Director of Marketing and Corporate Communications (973) 422-3235 Investor Contact: Valerie L. Gerard Executive Vice President Investor Relations (973) 422-3284 Stephen Klimas Vice President Investor Relations (973) 535-3769 CIT QUANTIFIES EXPOSURE TO DELTA AIR LINES NEW YORK, NY, September 14, 2005 -- CIT Group Inc. (NYSE: CIT), a leading provider of commercial and consumer finance solutions, disclosed its current financing relationship with Delta Air Lines, Inc. Today, Delta announced that the Company and certain of its subsidiaries had filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Under existing lease agreements, Delta has operating leases on two CIT-owned aircraft plus three engines, as well as an equity position in a tax-optimized leveraged lease on one aircraft. In addition, CIT has debt exposure against five Delta aircraft. CIT's total exposure, including secured financing in our Equipment Finance and Vendor Finance businesses, is approximately $100 million. Management believes, based on its current assessment of lease equipment carrying values, Delta credit exposure, and corresponding reserves, that the Delta filing will not have a material adverse impact on our financial results. About CIT: CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance company, provides clients with financing and leasing products and advisory services. Founded in 1908, CIT has nearly $60 billion in assets under management and possesses the financial resources, industry expertise and product knowledge to serve the needs of clients across approximately 30 industries. CIT, a Fortune 500 company and a component of the S&P 500 Index, holds leading positions in vendor financing, factoring, equipment and transportation financing, Small Business Administration loans, and asset-based lending. With its Global Headquarters in New York City and Corporate Offices in Livingston, New Jersey, CIT has approximately 6,000 employees in locations throughout North America, Europe, Latin and South America, and the Pacific Rim. For more information, visit www.cit.com. # # # EX-99.1 3 e22464ex992.txt PRESS RELEASE Exhibit 99.2 [LOGO] Media Contact: Kelley J. Gipson Executive Vice President Director of Marketing and Corporate Communications (973) 422-3235 Investor Contact: Valerie L. Gerard Executive Vice President Investor Relations (973) 422-3284 Stephen Klimas Vice President Investor Relations (973) 535-3769 CIT QUANTIFIES EXPOSURE TO NORTHWEST AIRLINES New York, NY September 14, 2005 - CIT Group, Inc. (NYSE:CIT), a leading provider of commercial and consumer finance solutions, disclosed its current financing relationship with Northwest Airlines, Inc. Today, Northwest announced that the Company and certain of its subsidiaries had filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Under existing lease agreements, Northwest has operating leases on three CIT-owned aircraft. In addition, CIT has debt exposure against four aircraft operated by Champion Air, a former affiliate of Northwest, which transactions are guaranteed by Northwest's corporate parent. CIT's total exposure is approximately $57 million. Management believes, based on its current assessment of lease equipment carrying values, Northwest credit exposure, and corresponding reserves that the Northwest filing will not have a material adverse impact on our financial results. About CIT: CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance company, provides clients with financing and leasing products and advisory services. Founded in 1908, CIT has nearly $60 billion in assets under management and possesses the financial resources, industry expertise and product knowledge to serve the needs of clients across approximately 30 industries. CIT, a Fortune 500 company and a component of the S&P 500 Index, holds leading positions in vendor financing, factoring, equipment and transportation financing, Small Business Administration loans, and asset-based lending. With its Global Headquarters in New York City and Corporate Offices in Livingston, New Jersey, CIT has approximately 6,000 employees in locations throughout North America, Europe, Latin and South America, and the Pacific Rim. For more information, visit www.cit.com. # # # -----END PRIVACY-ENHANCED MESSAGE-----