CIT, the troubled US commercial lender, reached a tentative agreement with Goldman Sachs over a disputed payment on a $3bn loan, reports Dow Jones. An agreement over the $1bn “make whole” payment could be made final within Friday. Goldman would be entitled to the $1bn payment under the $3bn rescue package it provided in June 2008, six months before the US government invested $2.3bn in CIT through its TARP scheme.

This entry was posted by Gwen Robinson on Friday, October 23rd, 2009 at 3:16 and is filed under Capital markets. Tagged with CIT, goldman sachs. Edit this entry.