June 15, 2017 / 1:01 PM / 2 months ago

BRIEF-CIT announces $550 mln of additional capital actions

June 15 (Reuters) - Cit Group Inc

* Announced additional actions that return $550 million of capital through an open market repurchase program, accelerated share repurchase agreement

* Entered into an ASR with Morgan Stanley to repurchase $512 million of CIT's common shares​

* $550 million capital return funded using proceeds of $325 million preferred stock issuance, proceeds of sale of commercial aircraft leasing business

* Under terms of ASR, CIT will pay Morgan Stanley $512 million in exchange for initial delivery of about 9.25 million CIT common shares Source text for Eikon: Further company coverage:

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