Item 8.01. Other Events.
Sale of Canadian Businesses
On June 29,
2016, CIT Group Inc. (“we,” “our,” “CIT,” or the “Company”) announced that it
has entered into an agreement to sell its equipment finance and corporate finance businesses in Canada to Laurentian Bank of
Canada. The press release is attached as Exhibit 99.1.
Form 10 Registration Statement Filed for
Commercial Aircraft Leasing Business
On June 30, 2016, CIT
announced that it has filed an initial Form 10 Registration Statement with the U.S. Securities and Exchange Commission in conjunction
with the dual track process for separation of its commercial aircraft leasing business. The press release is attached as Exhibit
99.2.
Item 9.01. Exhibits.
(d)
Exhibits
. The following
exhibits are being filed herewith:
99.1
|
Press release of CIT Group
Inc., dated June 29, 2016, announcing the sale of its equipment finance and corporate finance businesses in Canada to
Laurentian Bank of
Canada.
|
99.2
|
Press release of CIT Group Inc., dated June 30, 2016, announcing the filing of a Form 10 Registration Statement in conjunction with the separation of its commercial aircraft leasing business.
|
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This Form 8-K contains forward-looking
statements within the meaning of applicable federal securities laws that are based upon our current expectations and assumptions
concerning future events, which are subject to a number of risks and uncertainties that could cause actual results to differ materially
from those anticipated. The words “expect,” “anticipate,” “estimate,” “forecast,”
“initiative,” “objective,” “plan,” “goal,” “project,” “outlook,”
“priorities,” “target,” “intend,” “evaluate,” “pursue,” “commence,”
“seek,” “may,” “would,” “could,” “should,” “believe,” “potential,”
“continue,” or the negative of any of those words or similar expressions is intended to identify forward-looking statements.
All statements contained in this Form 8-K, other than statements of historical fact, including without limitation, statements about
our plans, strategies, prospects and expectations regarding future events and our financial performance, are forward-looking statements
that involve certain risks and uncertainties. While these statements represent our current judgment on what the future may hold,
and we believe these judgments are reasonable, these statements are not guarantees of any events or financial results, and our
actual results may differ materially. Important factors that could cause our actual results to be materially different from our
expectations include, among others, the risk that CIT is unsuccessful in implementing its strategy and business plan, the risk
that CIT is unable to react to and address key business and regulatory issues, the risk that CIT is unable to achieve the projected
revenue growth from its new business initiatives or the projected expense reductions from efficiency improvements, and the risk
that CIT becomes subject to liquidity constraints and higher funding costs. We describe these and other risks that could affect
our results in Item 1A, “Risk Factors,” of our latest Annual Report on Form 10-K for the year ended December 31, 2015,
which was filed with the Securities and Exchange Commission. Accordingly, you should not place undue reliance on the forward-looking
statements contained in this Form 8-K. These forward-looking statements speak only as of the date on which the statements were
made. CIT undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except where expressly
required by law.