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FOOTHILL GROUP SUBSIDIARY COMPLETES $40 MILLION PRIVATE PLACEMENT

 FOOTHILL GROUP SUBSIDIARY COMPLETES $40 MILLION PRIVATE PLACEMENT
 LOS ANGELES, April 30 /PRNewswire/ -- The Foothill Group Inc. (NYSE: FGI) announced today that Foothill Capital Corp., its largest subsidiary, has issued $40 million in senior notes to institutional lenders. The private placement of 9.25 percent senior notes has a final maturity of March 31, 1999, with annual principal payments due beginning 1995 continuing through 1999, giving the issue an average life of five years.
 David C. Hilton, executive vice president and chief financial officer of Foothill Capital, stated, "We are pleased to complete this placement of senior notes and continue our program of lengthening debt maturities. We have also completed interest rate swaps to convert these fixed-rate borrowings to floating rates. These swaps enable the company to continue matching rate-sensitive assets and liabilities."
 The Foothill Group Inc., is a financial services company engaged in the commercial finance and asset management businesses. Foothill Capital Corp., its largest subsidiary, provides asset-based financing secured by accounts receivable, inventory, equipment and other assets to businesses nationwide. Foothill Thrift and Loan specializes in providing commercial and industrial loans secured by real estate to small- and medium-sized businesses in California. The Capital Markets Division (parent company) manages institutional limited partnerships which invest in the debt of companies which are in reorganization or in the process of restructuring.
 -0- 4/30/92
 /CONTACT: Henry K. Jordan, vice president and CFO of Foothill Group, 310-478-8383/
 (FGI) CO: Foothill Group ST: California IN: SU:


CH-KJ -- LA030 -- 5003 04/30/92 13:43 EDT
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Publication:PR Newswire
Date:Apr 30, 1992
Words:254
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