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OLYMPIC FINANCIAL LTD. ANNOUNCES PRICING OF NEW PUBLIC ISSUE OF ASSET-BACKED SECURITIES

 MINNEAPOLIS, Aug. 9 /PRNewswire/ -- Olympic Financial Ltd. (NASDAQ-NMS:OLYM) today priced $100-million of automobile receivables- backed securities through Bear, Stearns & Co. Inc. and Kidder, Peabody & Co. Incorporated.
 The securities are issued from an owner trust, Olympic Automobile Receivables Trust, 1993-C, in two classes: the senior $87-million 4.5- percent Automobile Receivables-Backed Notes and the subordinated 13-million 4.6-percent Automobile Receivables-Backed Certificates. The senior notes were priced at a bond equivalent yield of 4.6 percent, a 55-basis-point spread above the two-year treasury note. The subordinated certificates were priced at a bond equivalent yield of 4.7 percent, a 65-basis-point spread above the two-year treasury note.
 The notes and the certificates have a 1.9-year average life, based on a pricing speed of 1.5 percent ABS.
 Both the notes and the certificates are rated AAA by Standard & Poor's and Aaa by Moody's. Principal and interest on the notes and certificates are 100-percent guaranteed by insurance policies provided by Financial Security Assurance. The notes are rated AAA by Standard & Poor's without regard to the insurance policy provided by FSA. Delivery of the securities is scheduled for Aug. 17, 1993.
 Use of the owner trust enabled Olympic to prefund a portion of the receivables and thereby issue a larger amount of securities than the amount of receivables initially available. The trust initially has $49.7 million in automobile loans acquired from Olympic's network of auto dealers during the two months ended July 31. In addition, $50.3 million will be deposited in the prefunding account and will be used to purchase receivables to be delivered within the first four months of the transaction.
 Olympic Financial Ltd., an independent automobile finance company based in Minneapolis, purchases, sells and services retail installment sales contracts and promissory notes originated by automobile dealers. Founded in March 1990, the company also has offices in Colorado, Texas, Washington and Arizona. Olympic has relationships with more than 590 automobile dealers.
 -0- 8/9/93
 /CONTACT: Tom Langenfeld of Swenson Falker Associates Inc., 612-371-0000, for Olympic Financial; or Jeffrey C. Mack of Olympic Financial, 612-942-9880/
 (OLYM)


CO: Olympic Financial Ltd. ST: Minnesota IN: AUT SU:

TJ -- MN010 -- 0850 08/09/93 15:44 EDT
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Publication:PR Newswire
Date:Aug 9, 1993
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