Rule 424(b)(3)
Registration Statement
No. 33-58418
PRICING SUPPLEMENT NO. 13,
Dated March 2, 1994, to
Prospectus, dated March 25, 1993, and Prospectus
Supplement, dated March 25, 1993.
THE CIT GROUP HOLDINGS, INC.
5.50% MEDIUM-TERM NOTES
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE
(X) Senior Note ( ) Senior Subordinated Note
Principal Amount: U.S. $100,000,000.
Proceeds to Corporation: 99.617%.
Underwriting Discount: 0.133%.
Issue Price: Variable Price Reoffer, initially at 99.75%.
Original Issue Date: March 9, 1994.
Maturity Date: February 28, 1997.
Interest Rate Per Annum: 5.50%.
Form: Global Note.
Interest Payment Dates: Each February 28 and August 28,
commencing August 28, 1994, provided that if any such day is
not a Business Day, the Interest Payment Date will be the
next succeeding Business Day, and no interest will accrue on
the amount payable for the period from and after such
Interest Payment Date.
Interest payments will include the amount of interest
accrued from and including the most recent Interest Payment
Date to which interest has been paid (or from and including
the Original Issue Date) to but excluding the applicable
Interest Payment Date.
The Notes are offered by the Underwriter, as specified herein,
subject to receipt and acceptance by it and subject to its right
to reject any order in whole or in part. It is expected that the
Notes will be ready for delivery in book-entry form on or about
March 9, 1994.
UBS SECURITIES INC.
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Specified Currency: U.S. Dollars.
Trustee, Registrar, Authenticating and Paying Agent:
BankAmerica Trust Company of New York, under Indenture dated
as of July 31, 1992 between the Trustee and the Corporation.
UNDERWRITING
UBS Securities Inc. (the "Underwriter"), is acting as
principal in this transaction.
Subject to the terms and conditions set forth in a Terms
Agreement dated March 2, 1994 (the "Terms Agreement"),
between the Corporation and the Underwriter, and a Selling
Agency Agreement, dated March 25, 1993, between the
Corporation and Merrill Lynch & Co., Merrill Lynch, Pierce,
Fenner & Smith Incorporated, The First Boston Corporation,
Goldman, Sachs & Co., Morgan Stanley & Co. Incorporated,
Shearson Lehman Brothers Inc. (currently known as Lehman
Brothers Inc.), and UBS Securities Inc., the Corporation has
agreed to sell to the Underwriter, and the Underwriter has
agreed to purchase, $100,000,000 principal amount of the
Notes.
Under the terms and conditions of the Terms Agreement, the
Underwriter is committed to take and pay for all of the
Notes, if any are taken.
The Underwriter has advised the Corporation that it proposes
to offer the Notes for sale from time to time in one or more
transactions (which may include block transactions), in
negotiated transactions or otherwise, or a combination of
such methods of sale, at market prices prevailing at the
time of sale, at prices related to such prevailing market
prices or at negotiated prices. The Underwriter may effect
such transactions by selling the Notes to or through
dealers, and such dealers may receive compensation in the
form of underwriting discounts, concessions or commissions
from the Underwriter and/or the purchasers of the Notes for
whom they may act as agent. In connection with the sale of
the Notes, the Underwriter may be deemed to have received
compensation from the Corporation in the form of
underwriting discounts, and the Underwriter may also receive
commissions from the purchasers of the Notes for whom they
may act as agent. The Underwriter and any dealers that
participate with the Underwriter in the distribution of the
Notes may be deemed to be underwriters, and any discounts or
commissions received by them and any profit on the resale of
the Notes by them may be deemed to be underwriting discounts
or commissions.
The Notes are a new issue of securities with no established
trading market. The Corporation currently has no intention
to list the Notes on any securities exchange. The
Corporation has been advised by the Underwriter that it
intends to make a market in the Notes but is not obligated
to do so and may discontinue any market making at any time
without notice. No assurance can be given as to the
liquidity of the trading market for the Notes.
The Corporation has agreed to indemnify the Underwriter
against certain liabilities, including liabilities under the
Securities Act of 1933, as amended.
