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PLM INTERNATIONAL SECURES $38 MILLION FINANCING FOR PLM EQUIPMENT GROWTH FUND V; ALSO BEGINS OFFERING PLM EQUIPMENT GROWTH FUND VI

PLM INTERNATIONAL SECURES $38 MILLION FINANCING FOR PLM EQUIPMENT GROWTH FUND V; ALSO BEGINS OFFERING PLM EQUIPMENT GROWTH FUND VI
 SAN FRANCISCO, Jan. 7 /PRNewswire/ -- San Francisco-based PLM International Inc. (AMEX: PLM) today announced that it has arranged a $38 million long-term financing for one of its sponsored partnerships, PLM Equipment Growth Fund V. The company also announced that it began offering its newest public limited partnership, PLM Equipment Growth Fund VI.
 The $38 million eight-year term loan was arranged through a major European lender. Proceeds of the loan will finance equipment acquisitions for the $184 million income-oriented limited partnership.
 Growth Fund V1, a $125 million income-oriented limited partnership, will invest primarily in long-lived, low obsolescence capital equipment. Typical equipment types to be purchased by the fund will include cargo ships, product tankers, intermodal containers, railcars, mobile offshore drilling units, trailers and commercial aircraft.
 Growth Fund VI units will be marketed for PLM International by its wholly owned subsidiary, PLM Securities Corp., through a nationwide network of broker/dealers. The minimum investment is $2,500 ($2,000 for IRAs and Keoghs), and an optional distribution reinvestment plan will be offered.
 Sales of Growth Fund VI follow the close of Growth Fund V on Dec. 23, 1991. The Growth Fund family of limited partnerships, which began selling in March 1986, is one of the most successful groups of equipment leasing funds ever offered. In the last two years, the PLM Equipment Growth Fund has been the largest selling individual leasing fund in America. With the close of Growth Fund V, the company has raised approximately $1.13 billion in cumulative equity sales.
 In February 1991, PLM surpassed the $1 billion benchmark in cumulative equity sales, only the second firm specializing in equipment leasing products to reach that mark. During 1991, PLM was the top syndicator of equipment leasing products in the United States and has ranked as one of the top three since 1981.
 PLM Financial Services Inc. is the general partner for PLM Equipment Growth Funds V and VI. PLM Financial Services is a wholly owned subsidiary of PLM International, which owns and manages approximately $1.4 billion in transportation equipment.
 PLM International is a transportation equipment leasing company specializing in the management of equipment on operating leases. The company is also the leading sponsor of syndicated investment programs organized to invest primarily in transportation equipment.
 -0- 1/7/92 R
 /CONTACT: Valerie Carattini-Cooke of PLM International Inc., 415-905-7227/
 (PLM) CO: PLM International Inc. ST: California IN: TRN SU:


RM -- SF003R -- 7513 01/07/92 17:50 EST
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Publication:PR Newswire
Date:Jan 7, 1992
Words:428
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