Printer Friendly

FREMONT GENERAL ANNOUNCES PUBLIC OFFERING OF VARIABLE RATE ASSET BACKED CERTIFICATES BY THE FREMONT SMALL BUSINESS LOAN MASTER TRUST

 SANTA MONICA, Calif., April 2 /PRNewswire/ -- Fremont General Corp. (NASDAQ: FRMT) today announced the public offering of $200,000,000 principal amount of Series A Variable Rate Asset Backed Certificates of the Fremont Small Business Loan Master Trust. The trust was established to issue certificates that represent interests in a portfolio of commercial finance loans that were originated by Fremont Financial Corp., a subsidiary of Fremont General Corp. The certificates will be rated "AAA" by Standard & Poor's Corp. and Duff and Phelps Credit Rating Co.
 The asset securitization program was designed to provide a stable source of funds to facilitate the expansion of Fremont Financial's asset-based lending business. The interest rate on the certificates of 0.47 percent over LIBOR is significantly lower than Fremont Financial's current source of funding.
 Fremont Financial Corp. makes asset-based loans to small- and medium-sized businesses that are primarily secured by accounts receviable and inventory. The company focuses on loans ranging in size from $1 million to $5 million. Fremont General Corp. is a diversified financial services holding company.
 Merrill Lynch & Co. was the lead manager in the offering.
 -0- 4/2/93
 /CONTACT: W.R. Bailey of Fremont General, 310-315-5500/
 (FRMT)


CO: Fremont General Corp. ST: California IN: FIN SU: OFR

KJ-LS -- LA009 -- 2402 04/02/93 09:30 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 2, 1993
Words:216
Previous Article:VESTRO FOODS INC. ANNOUNCES 1992 FINANCIAL RESULTS
Next Article:UNIVERSAL SEISMIC ASSOCIATES, INC. ANNOUNCES RESIGNATION


Related Articles
FREMONT SMALL BUSINESS LOAN MASTER TRUST $200 MILLION VARIABLE RATE ASSET-BACKED CERTIFICATES, SERIES A RATED 'AAA' BY DUFF & PHELPS
FREMONT GENERAL CORP. ANNOUNCES PUBLIC OFFERING OF VARIABLE RATE ASSET BACKED CERTIFICATES BY THE FREMONT SMALL BUSINESS LOAN MASTER TRUST
DUFF & PHELPS REAFFIRMS 'AAA' RATING ON FREMONT SMALL BUSINESS TRUST, SERIES A CERTIFICATES
DUFF & PHELPS REAFFIRMS 'AAA' RATING ON FREMONT SMALL BUSINESS TRUST, SERIES A CERTIFICATES
DCR RATES FREMONT SMALL BUSINESS LOAN MASTER TRUST, SERIES C $135,000,000 VARIABLE-RATE ASSET-BACKED CERTIFICATES
FREMONT GENERAL FINANCING I COMMENCES OFFERING OF TOPrS(SM)
DCR Rates Fremont Small Business Loan Master Trust, Series D $100.00 Million Class A Certificates 'AAA' $9.26 Million Class B Certificates 'BBB'
Fremont General Corporation James M. McWalters as President & CEO of Fremont Business Credit
Fremont General Corporation Provides Information Regarding Suspension of Trading by the NYSE and Pink Sheets Availability for Its Common Stock.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters