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| Version 2 | Version 3 |
|---|---|
| US bank in warning on bankruptcy | US bank in warning on bankruptcy |
| (about 2 hours later) | |
| US bank CIT has said it may still have to file for bankruptcy protection if not enough of its bondholders agree to a refinancing plan. | US bank CIT has said it may still have to file for bankruptcy protection if not enough of its bondholders agree to a refinancing plan. |
| Its comments came despite the bank having secured a $3bn (£1.8bn) rescue loan from bondholders on Monday. | Its comments came despite the bank having secured a $3bn (£1.8bn) rescue loan from bondholders on Monday. |
| CIT said it still had to meet about $7bn in debts which fall due in the next year, including $1bn in August. | CIT said it still had to meet about $7bn in debts which fall due in the next year, including $1bn in August. |
| CIT, which specialises in loans to smaller firms, also predicted a second-quarter loss of more than $1.5bn. | CIT, which specialises in loans to smaller firms, also predicted a second-quarter loss of more than $1.5bn. |
| The US government has ruled out bailing out the bank. | The US government has ruled out bailing out the bank. |
| CIT - which has debts of about $40bn - is seeking to split its profitable operations from the loss-making parts of the business. | CIT - which has debts of about $40bn - is seeking to split its profitable operations from the loss-making parts of the business. |
| CIT's shares jumped 79% on Monday on reports of the $3bn loan deal, but by close of trade on Tuesday its stock had fallen 21.6% to end at 98 cents. |