The CIT Group priced its first home-equity ABS since 1998 last week, two days past the news that the commercial finance company will spin-off entirely from short-time parent Tyco International.

Prior to last week's 10-12B filing with the Securities & Exchange Commission, it was unclear whether the spin-off would be partial, such that Tyco would retain an interest in the finance company, or if CIT would be outright sold to another party.

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