The CIT Group, nearing a Thursday deadline to present a comprehensive restructuring scheme, is planning to roll out a massive debt exchange offer to its bondholders, along with votes for a potential prepackaged bankruptcy, people with direct knowledge of the talks told DealBook on Wednesday.

CIT, a major lender to the nation's small and mid-sized businesses, plans to ask bondholders to exchange their current holdings for new debt and equity, these people said. The offer would be introduced within days and would run for about 20 business days.