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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
F O R M 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: February 22, 1999
(Date of earliest event reported)
The CIT Group Securitization Corporation II
The CIT Group, Inc.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
333-43323 22-3328188
333-43323-01 22-3411516
(Commission File Number) (IRS Employer Identification No.)
650 CIT Drive
Livingston, New Jersey 07039-0491
1211 Avenue of the Americas
New York, New York 10036
(Address of principal executive offices and zip code)
(973) 740-5000
(212) 536-1950
Registrants' telephone number, including area code
N/A
(Former name or former address, if changed since last report)
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Item 7. Financial Statements and Exhibits.
(c) Exhibits.
The following are filed herewith. The exhibit
numbers correspond with Item 601(b) of Regulation S-K.
Exhibit No. Description
25 Statement of Eligibility of Trustee
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned
hereunto duly authorized.
The CIT Group Securitization
Corporation II
By: /s/ Frank Garcia
Name: Frank Garcia
Title: Vice President
The CIT Group, Inc.
By: /s/ Frank Garcia
Name: Frank Garcia
Title: Vice President
Dated: February 22, 1999
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EXHIBIT 25
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM T-1
Statement of Eligibility
Under the Trust Indenture Act of 1939
of a Corporation Designated to Act as Trustee
Check if an Application to Determine Eligibility
of a Trustee Pursuant to Section 305(b)(2) / /
HARRIS TRUST AND SAVINGS BANK
(Name of Trustee)
Illinois 36-1194448
(State of Incorporation) (I.R.S. Employer Identification No.)
111 West Monroe Street, Chicago, Illinois 60603
(Address of principal executive offices)
Marian Onischak, Harris Trust and Savings Bank,
311 West Monroe Street, Chicago, Illinois, 60606
312-461-2532 phone 312-461-3525 facsimile
(Name, address and telephone number for agent for service)
The CIT Group Securitization Corporation II
(Exact name of obligor as specified in its charter)
Delaware 22-3328188
(State of Incorporation) (I.R.S. Employer
Identification No.)
650 CIT Drive
Livingston, New Jersey 070399
(Address of principal executive offices)
CIT Marine Trust 1999-A
(Title of indenture securities)
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1. GENERAL INFORMATION. Furnish the following information as to the
Trustee:
(a) Name and address of each examining or supervising authority
to which it is subject.
Commissioner of Banks and Trust Companies, State of Illinois,
Springfield, Illinois; Chicago Clearing House Association,
164 West Jackson Boulevard, Chicago, Illinois; Federal
Deposit Insurance Corporation, Washington, D.C.; The Board of
Governors of the Federal Reserve System, Washington, D.C.
(b) Whether it is authorized to exercise corporate trust powers.
Harris Trust and Savings Bank is authorized to exercise
corporate trust powers.
2. AFFILIATIONS WITH OBLIGOR. If the Obligor is an affiliate of the
Trustee, describe each such affiliation.
The Obligor is not an affiliate of the Trustee.
3. through 15.
NO RESPONSE NECESSARY
16. LIST OF EXHIBITS.
1. A copy of the articles of association of the Trustee as now in
effect which includes the authority of the trustee to commence
business and to exercise corporate trust powers. A copy of the
Certificate of Merger dated April 1, 1972 between Harris Trust
and Savings Bank, HTS Bank and Harris Bankcorp, Inc. which
constitutes the articles of association of the Trustee as now
in effect and includes the authority of the Trustee to
commence business and to exercise corporate trust powers was
filed in connection with the Registration Statement of
Louisville Gas and Electric Company, File No. 2-44295, and is
incorporated herein by reference.
2. A copy of the existing by-laws of the Trustee.
A copy of the existing by-laws of the Trustee was filed in
connection with the Registration Statement of Commercial
Federal Corporation, File No. 333-20711, and is incorporated
herein by reference.
3. The consents of the Trustee required by Section 321(b) of the
Act.
(included as Exhibit A on page 4 of this statement)
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4. A copy of the latest report of condition of the Trustee
published pursuant to law or the requirements of its
supervising or examining authority.
(included as Exhibit B on page 5 of this statement)
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SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, the Trustee,
HARRIS TRUST AND SAVINGS BANK, a corporation organized and existing under the
laws of the State of Illinois, has duly caused this statement of eligibility
to be signed on its behalf by the undersigned, thereunto duly authorized, all
in the City of Chicago, and State of Illinois, on the 22nd day of February,
1999.
HARRIS TRUST AND SAVINGS BANK
By: /s/ Marian Onischak
Marian Onischak
Assistant Vice President
EXHIBIT A
The consents of the trustee required by Section 321(b) of the Act.
Harris Trust and Savings Bank, as the Trustee herein named, hereby consents
that reports of examinations of said trustee by Federal and State authorities
may be furnished by such authorities to the Securities and Exchange Commission
upon request therefor.
HARRIS TRUST AND SAVINGS BANK
By: /s/ Marian Onischak
Marian Onischak
Assistant Vice President
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EXHIBIT B
Attached is a true and correct copy of the statement of condition of Harris
Trust and Savings Bank as of September 30, 1998, as published in accordance
with a call made by the State Banking Authority and by the Federal Reserve
Bank of the Seventh Reserve District.
HARRIS BANK
Harris Trust and Savings Bank
111 West Monroe Street
Chicago, Illinois 60603
of Chicago, Illinois, And Foreign and Domestic Subsidiaries, at the close of
business on September 30, 1998, a state banking institution organized and
operating under the banking laws of this State and a member of the Federal
Reserve System. Published in accordance with a call made by the Commissioner
of Banks and Trust Companies of the State of Illinois and by the Federal
Reserve Bank of this District.
Bank's Transit Number 71000288
ASSETS THOUSANDS
OF DOLLARS
Cash and balances due from depository institutions:
Non-interest bearing balances and currency and coin $1,097,714
Interest bearing balances $213,712
Securities:
a. Held-to-maturity securities $0
b. Available-for-sale securities $5,036,734
Federal funds sold and securities purchased under
agreements to resell $48,950
Loans and lease financing receivables:
Loans and leases, net of unearned ncome $9,111.098
LESS: Allowance for loan and lease losses $104,900
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Loans and leases, net of unearned income, allowance,
and reserve (item 4.a minus.b). 9,006,198
Assets held in trading accounts $202,008
Premises and fixed assets (including capitalized leases) $245,290
Other real estate owned $365
Investments in unconsolidated subsidiaries and associated companies $41
Customer's liability to this bank on acceptances outstanding $34,997
Intangible assets $260,477
Other assets $1,148,163
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TOTAL ASSETS $17,294,649
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LIABILITIES
Deposits:
In domestic offices $9,467,895
Non-interest bearing
Interest bearing
In foreign offices, Edge and Agreement
subsidiaries, and IBF's $1,268,759
Non-interest bearing
Interest bearing
Federal funds purchased and securities sold under agreements
to repurchase in domestic offices of the bank and of its
Edge and Agreement subsidiaries, and in IBF's:
Federal funds purchased & securities sold under
agreements to repurchase $3,118,548
Trading Liabilities 110,858
Other borrowed money:
a. With remaining maturity of one year or less $1,202,050
b. With remaining maturity of more than one year $0
Bank's liability on acceptances executed and outstanding $34,997
Subordinated notes and debentures $225,000
Other liabilities $530,224
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TOTAL LIABILITIES $15,958,331
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EQUITY CAPITAL
Common stock $100,000
Surplus $604,834
a. Undivided profits and capital reserves $580,271
b. Net unrealized holding gains (losses) on
available-for-sale securities $51,213
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TOTAL EQUITY CAPITAL $1,336,318
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Total liabilities, limited-life preferred stock,
and equity capital $17,294,649
I, Pamela Piarowski, Vice President of the above-named bank, do hereby
declare that this Report of Condition has been prepared in conformance with
the instructions issued by the Board of Governors of the Federal Reserve
System and is true to the best of my knowledge and belief.
PAMELA PIAROWSKI
10/29/98
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We, the undersigned directors, attest to the correctness of this Report
of Condition and declare that it has been examined by us and, to the best of
our knowledge and belief, has been prepared in conformance with the
instructions issued by the Board of Governors of the Federal Reserve System
and the Commissioner of Banks and Trust Companies of the State of Illinois and
is true and correct.
EDWARD W. LYMAN,
ALAN G. McNALLY,
CHARLES SHAW
Directors.
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