CIT Group amended its restructuring plan in order to gain support from bondholders, the troubled lender announced late Friday. The changes include increased equity shares for bondholders and a shortening of maturities for all new junior debt.

The amended terms of the restructuring plan include a cash sweep mechanism to accelerate repayment of the new bonds, a shortening of the maturities of the new bonds, an increase in the equity offered to subordinated debt holders and the inclusion of notes maturing after 2018, which were not previously considered as part of the exchange.

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