UPDATE 1-CIT eyes change-of-control provisions to debt

(Reuters) - CIT is leaning toward putting these provisions in new bonds
that it issues on a case-by-case basis, should the market
demand them, Chief Executive Jeff Peek told Reuters in an
interview.




Companies in the finance sector have traditionally been
seen as immune from leveraged buyouts. But SLM Corp.,
the student loan company also known as Sallie Mae, agreed in
April to be acquired by two banks and two private equity
investors.


Read more at Reuters.com Bonds News

Sallie Mae quarterly earnings rise

(Reuters) - Sallie Mae, known legally as SLM Corp. , said earnings rose to $966 million, or $1.03 a share, from $724 million, or $1.52 a share, a year earlier.






Read more at Reuters.com Bonds News

UPDATE 2-U.S. House cuts student lender subsidies

(Reuters) - WASHINGTON, July 11 - The U.S. House of
Representatives voted 273-149 on Wednesday to slash federal
subsidies paid to college student-loan companies, such as
Sallie Mae and Citigroup Inc , by $19 billion and
boost grants to students, ignoring a White House veto threat.




The House bill and a similar measure in the Senate, which a
key lawmaker said could pass as early as this month, have been
attacked by the $85 billion student-loan industry, but
championed by industry critics, including some student groups.


Read more at Reuters.com Mergers News

Sallie Mae says takeover deal threatened

(Reuters) - On Wednesday, Sallie Mae said the acquiring group said it
believes that current legislative proposals before the U.S.
House of Representatives and U.S. Senate "could result in a
failure of the conditions to the closing of the merger to be
satisfied."




Sallie Mae said it "strongly disagrees with this assertion"
and "intends to proceed towards the closing of the merger
transaction as rapidly as possible and will take all steps to
protect shareholders' interests."


Read more at Reuters.com Bonds News

Sallie Mae says waiting period for buyout ends

(Reuters) - The transaction is expected to close late this year. Shares
of Sallie Mae rose 69 cents to $57.80 in morning trading on the
New York Stock Exchange.




Read more at Reuters.com Bonds News