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NOVA NORTHWEST INC. ACQUIRES LEASES FROM PRUDENTIAL SUBSIDIARIES

 PORTLAND, Ore., Dec. 16 /PRNewswire/ -- Nova Northwest Inc., a commercial finance services company, announced today it has acquired leases totaling $142 million from subsidiaries of The Prudential Insurance Co. of America.
 The leases, purchased from Prudential Interfunding Corp. and PruLease Inc., were specifically developed for the regulated utility industry and are primarily related to financing vehicle fleets.
 This purchase significantly adds to Nova's utility-related financing business. The firm's management are former utility finance executives with a broad range of experience in the utility, regulatory and specialized financing and leasing industries.
 National Westminister Bank PLC, as agent for a group of foreign and domestic banks, and Capital Markets Assurance Corp., a mono line insurance company, participated in financing the transaction.
 In addition to serving the utility industry with special asset-based financing, Nova Northwest also provides advisory services and specialized financing to the foreign and domestic alternative energy industry and middle market companies located in the western United States.
 -0- 12/16/92
 /CONTACT: Gary Hayward of Nova Northwest, 503-227-5445/


CO: Nova Northwest Inc.; Prudential Insurance Co. of America ST: Oregon IN: FIN UTI SU: FNC

LM-JH -- SE005 -- 7813 12/16/92 14:49 EST
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Publication:PR Newswire
Date:Dec 16, 1992
Words:193
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