Printer Friendly

AUTOFINANCE GROUP INC. ANNOUNCES OFFERING

 AUTOFINANCE GROUP INC. ANNOUNCES OFFERING
 OAK BROOK, Ill., Dec. 24 /PRNewswire/ -- AutoFinance Group Inc.


(NASDAQ: AUFN) today announced an offer to the holders of its 9.75 percent Senior Subordinated Notes. Noteholders may exchange notes for common stock valued at $4.71 per share. If all 33 Noteholders accept, approximately 1,385,000 shares will be issued in exchange for $6,528,900 principal amount of Notes, including all interest accrued thereon. The company presently has 6,666,920 shares of common stock outstanding.
 The exchange offer expires Jan. 31, 1992.
 AutoFinance Group Inc. with offices in Oak Brook and Burbank, Calif. acquires automobile finance contracts from franchise new car dealers located primarily in California, Oklahoma, and Illinois. In mid-November 1991 the company sold approximately $14,600,000 of retail installment automobile sales contracts to an institutional investor. Proceeds were used to reduce indebtedness.
 -0- 12/24/91
 /CONTACT: A.E. Steinhaus, president or Blair Nance, CFO, of AutoFinance Group, 708-571-0900/
 (AUFN) CO: AutoFinance Group ST: Illinois IN: SU: OFR


AL -- LA005 -- 5171 12/24/91 13:35 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 24, 1991
Words:179
Previous Article:CAPSTEAD SECURITIES $350 MILLION SERIES 1991-VII CMOS RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:MANAGEMENT TECHNOLOGIES REPORTS SIX-MONTH RESULTS
Topics:


Related Articles
AUTOFINANCE GROUP INC. ANNOUNCES SUCCESSFUL COMPLETION OF OFFERING
AUTOFINANCE GROUP INC. ANNOUNCES SUCCESSFUL COMPLETION OF OFFERING
AUTOFINANCE GROUP SUCCESSFULLY COMPLETES PRIVATE PLACEMENT
AUTOFINANCE GROUP INC. ANNOUNCES SUCCESSFUL COMPLETION OF OFFERING
AUTOFINANCE GROUP INC. ANNOUNCES SUCCESSFUL COMPLETION OF RECEIVABLES TRANSFER
DCR RATES KEYCORP'S $200 MILLION SUBORDINATED NOTES RATED 'A'
AFG RECEIVABLES TRUST, 1996-B RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
AutoFinance Group Completes $103.4 Million Securitization of Auto Loans
AutoFinance Group 1994-A $53 Million ABS Upgraded To 'AAA' By Fitch - Fitch Financial Wire -
Key Auto Financial Trust 1997-2 $1.06 Billion Notes Rated By Fitch IBCA - Fitch IBCA Financial Wire -

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters