Citigroup Inc and Barclays Capital, the investment banking division of Barclays Bank Plc, are offering to provide financing to U.S. commercial lender CIT Group Inc, Bloomberg said, citing people familiar with the situation.

CIT is nearing a plan that likely would hand the commercial lender over to its bondholders, sources familiar with the matter told Reuters on Tuesday.

Spokesmen for Citigroup and Barclays Capital in Hong Kong could not be immediately reached for comment by Reuters.

(Reporting by Ajay Kamalakaran in Bangalore, editing by Will Waterman)

Investment Citigroup Barclays