ContiFinancial Corporation $300 Million Debt Offering.NEW YORK--(BUSINESS WIRE)--August 15, 1996--ContiFinancial Corporation (NYSE NYSE See: New York Stock Exchange :CFN CFN Center for Functional Nanomaterials CFN Companhia Ferroviaria do Nordeste (Brazil) CFN Commercial Fueling Network CFN Conselho Federal de Nutricionistas (Brazil) ) announced today the sale of $300 million senior notes, maturing August 15, 2003 with a coupon of 8.375%. The issue was priced at 99.712 for a yield to investors of 8.43%. The bonds will be redeemable at any time at a yield equivalent to 50 basis points over the then applicable Treasury. The issue was rated "BB+" by Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index and "Ba1" by Moody's Investor Service. The offering was managed by Bear, Stearns & Co. Inc., CS First Boston and UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System Securities. ContiFinancial Corporation is a consumer and commercial finance company headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . The Company is a major originator and servicer of home equity loans in the United States. In addition, it provides financing, securitization, and (through its wholly-owned subsidiary, ContiFinancial Services Corporation, an NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). member) bond placement services, to originators of a broad range of loans, leases and receivables, including adjustable rate mortgages, sub-prime auto loans, home improvement loans, equipment leases and multi-family and other commercial mortgage loans. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. CONTACT: ContiFinancial Corporation Edelman Financial Jerry Perelson Joseph Kist Chief Financial Officer Vice President 212/207-5402 212/704-8239 |
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