Rule 424(b)(3)
Registration Statement
No. 33-58107
PRICING SUPPLEMENT NO. 13,
Dated December 18, 1995, to
Prospectus, dated March 24, 1995, and
Prospectus Supplement, dated April 5, 1995.
THE CIT GROUP HOLDINGS, INC.
5.700% 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: 99.790% or $99,790,000.
Underwriting Discount: .160%.
Issue Price: 99.950%.
Original Issue Date: December 21, 1995.
Maturity Date: December 15, 1998.
Interest Rate Per Annum: 5.700%.
Interest Payment Dates: Each June 15 and December 15, commencing June 15, 1996,
provided that if any such day is not a Business Day, the payment will be made on
the next succeeding Business Day as if it were made on the date such payment was
due, and no interest will accrue on the amount payable for the period from and
after such Interest Payment Date or the Maturity Date, as the case may be.
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 Underwriters, as specified herein, subject to
receipt and acceptance by them and subject to their 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 December 21, 1995.
SALOMON BROTHERS INC
<PAGE>
Form: Global Note.
Specified Currency: U.S. Dollars.
Trustee, Registrar, Authenticating and Paying Agent: Harris Trust & Savings
Bank, under Indenture dated as of May 1, 1994 between the Trustee and
the Corporation.
UNDERWRITING
Salomon Brothers Inc (the "Underwriter") is acting as principal in this
transaction.
Subject to the terms and conditions set forth in a Terms Agreement
dated December 18, 1995 (the "Terms Agreement"), between the
Corporation and the Underwriter, incorporating the terms of a Selling
Agency Agreement dated April 6, 1995, between the Corporation and
Lehman Brothers, Lehman Brothers Inc., CS First Boston Corporation,
Goldman, Sachs & Co., Merrill Lynch & Co., Merrill Lynch, Pierce,
Fenner & Smith Incorporated, Morgan Stanley & Co. Incorporated, Salomon
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 initially
to offer the Notes directly to the public at the public offering price
set forth on the cover page of this Pricing Supplement and to certain
dealers at such price less a concession not in excess of .150% of the
principal amount of the Notes. The Underwriter may allow, and such
dealers may reallow, a discount not in excess of .100% of the principal
amount of the Notes on sales to certain other dealers. After the
initial offering, the price to public and concession and discount to
dealers may be changed by the Underwriter.
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.
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