<p> CIT Group Inc was in talks with a bondholder group on Saturday, as the lender tried to hammer out a rescue financing deal before markets opened and avoid bankruptcy, a source close to the situation said. <br /><br />Talks with the bondholder group, advised by investment bank Houlihan Lokey, for a $2 billion to $3 billion financing were expected to continue with the aim of announcing a deal by Monday morning, the source said. <br /><br />If a deal is not reached, the 101-year-old lender that services nearly one million small- and mid-sized businesses could file for bankruptcy protection as soon as Monday, according to the source, who did not want to be identified because talks are private. <br /><br />Talks are also going on a parallel track for debtor-in-possession (DIP) financing if the lender has to file for bankruptcy, the source said. <br /><br />JPMorgan Chase & Co, Goldman Sachs Group Inc, Barclays PLC and Morgan Stanley, which is also advising the company, might take part in a DIP financing, the source said. CIT spokesman Curt Ritter declined to comment</p>
<p> CIT Group Inc was in talks with a bondholder group on Saturday, as the lender tried to hammer out a rescue financing deal before markets opened and avoid bankruptcy, a source close to the situation said. <br /><br />Talks with the bondholder group, advised by investment bank Houlihan Lokey, for a $2 billion to $3 billion financing were expected to continue with the aim of announcing a deal by Monday morning, the source said. <br /><br />If a deal is not reached, the 101-year-old lender that services nearly one million small- and mid-sized businesses could file for bankruptcy protection as soon as Monday, according to the source, who did not want to be identified because talks are private. <br /><br />Talks are also going on a parallel track for debtor-in-possession (DIP) financing if the lender has to file for bankruptcy, the source said. <br /><br />JPMorgan Chase & Co, Goldman Sachs Group Inc, Barclays PLC and Morgan Stanley, which is also advising the company, might take part in a DIP financing, the source said. CIT spokesman Curt Ritter declined to comment</p>