Attached files
| file | filename |
|---|---|
| 8-K - CURRENT REPORT - CIT GROUP INC | e37723_8k.htm |
Exhibit 99.1
Calculation of Fair Market Value of Class 8 – 11 Securities
Contingent Value Rights Value Analysis
(Amounts in USD millions except per share data)
| Measurement Date | 2/8/2010 | |
| Class 8 Allowed Claims | $1,042 | |
| Class 9 Allowed Claims | 25,595 | |
| Class 10 Allowed Claims | 320 | |
| Class 11 Allowed Claims | 3,100 | |
| Total Class 8-11 Allowed Claims | $30,057 | |
| Total Common Shares Outstanding | 200,035,561 | |
| Share Price (10-Day Volume-Weighted Average) | $31.46 | |
| New Common Interests Issued to Class 8-11 Allowed Claims | 182,029,152 | |
| Market Value of Common Shares Issued to Class 8-11 Allowed Claims | $5,727 | |
| Face Value of Series A Notes Issued to Class 8-11 Allowed Claims | $21,040 | |
| Weighting | ||
| 2013 Series A Notes Trading Value, cents on dollar (10-Day Average) | 10% | 92.1 |
| 2014 Series A Notes Trading Value, cents on dollar (10-Day Average) | 15% | 89.2 |
| 2015 Series A Notes Trading Value, cents on dollar (10-Day Average) | 15% | 87.5 |
| 2016 Series A Notes Trading Value, cents on dollar (10-Day Average) | 25% | 85.9 |
| 2017 Series A Notes Trading Value, cents on dollar (10-Day Average) | 35% | 85.2 |
| Series A Notes Trading Value (Weighted Average) | 100% | 87.0 |
| Aggregate Market Value of Series A Notes Issued to Class 8-11 Allowed Claims | $18,308 | |
| Aggregate Recovery to Class 8-11 Allowed Claims | $24,035 | |
| % Recovery | 80.0% | |
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| New Common Interests Issued to Senior CVRs | 0 | |
| New Common Interests Issued to Junior CVRs | 0 | |
| New Common Interests Issued to Preferred Stock CVRs | 0 | |
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