Arcadia Financial Ltd. Completes Tender Offer At 101% for 11 1/2% Senior Notes Due 2007.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--May 11, 2000 Arcadia Financial Ltd. ("Arcadia"), an indirect wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Associates First Capital Corporation (NYSE NYSE See: New York Stock Exchange :AFS A distributed file system for large, widely dispersed Unix and Windows networks from Transarc Corporation, now part of IBM. It is noted for its ease of administration and expandability and stems from Carnegie-Mellon's Andrew File System. AFS - Andrew File System ), today announced the expiration of the tender offer that Arcadia commenced on April 13, 2000 (the "Tender Offer") for its 11 1/2% Senior Notes due 2007 (the "Notes") at a purchase price equal to 101% of each $1,000 in principal amount of Notes tendered, plus accrued and unpaid interest to May 11, 2000 (the "Tender Offer Expiration Time Expiration time The time of day by which all exercise notices must be received on the expiration date. Technically, the expiration time is currently 11:59AM on the expiration date, but public holders of option contracts must indicate their desire to exercise no later than 5:30PM on "). Notes in the aggregate principal amount of $420,000 were tendered in the Tender Offer and have been accepted by Arcadia. The Tender Offer to which this announcement relates is unrelated to the tender offer and consent solicitation for the Notes commenced by Arcadia on May 8, 2000. The Depositary for the Tender Offer is Norwest Bank Minnesota, National Association. |
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