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OLYMPIC FINANCIAL LTD. ANNOUNCES $600 MILLION SECURITIZATION WITH RECORD INTEREST SPREADS

MINNEAPOLIS, March 7 /PRNewswire/ -- Olympic Financial Ltd. (Nasdaq-NNM: OLYM) (Olympic) announced today the pricing of $600 million of automobile receivables-backed securities through Donaldson, Lufkin & Jenrette Securities Corporation as lead manager and Bear, Stearns & Co. Inc. as co-manager.

This transaction, when added to the remaining 1995-E prefund completed this quarter, gives Olympic the capacity to sell up to $720 million of auto loans in the first quarter of 1996.

The coupon cost to the investor was 5.89% compared to the APR of loans in the initial delivery of 14.02%, giving Olympic an interest spread before hedges of 8.13%. The use of hedging strategies increased Olympic's spread on 1996-A to approximately 8.30%.

The securities are issued via an owner trust, Olympic Automobile Receivables Trust, 1996-A, in seven (7) classes:

CHART:
 Average
 Security Amount Life Coupon Price Yield
 A-1 $63,600,000 0.238 5.25% 1.00000000 5.3125%
 A-2 $185,000,000 0.992 5.45% .99979544 5.534%
 A-3 $105,000,000 2.002 5.70% .99928366 5.807%
 A-4 $125,000,000 3.001 5.85% .99972558 5.932%
 A-5 $50,000,000 4.051 6.00% .99833928 6.123%
 A-6 $17,400,000 4.776 6.05% .99878060 6.157%
 B $54,000,000 2.186 5.90% .99941150 6.003%


The Senior Class A-1 Money Market Notes will be rated A-1+ by Standard & Poor's and P-1 by Moody's. The Senior Class A-2, A-3, A-4, A-5, A-6 Notes and Certificates will be rated AAA by Standard & Poor and Aaa by Moody's. Timely principal and interest on the Notes and Certificates are guaranteed by insurance policies provided by Financial Security Assurance Inc. ("FSA"). The ratings by Standard & Poor's of the Notes will be issued without regard to the insurance policy provided by FSA. The rating by Standard & Poor's of the Certificates and the rating by Moody's of the Notes and Certificates will be based on the issuance of the insurance policies by FSA.

Use of the owner trust in 1996-A enables Olympic to offer multiple, sequential-pay securities and to prefund a portion of the trust, thereby issuing a larger amount of securities than the amount of receivables initially available. The company anticipates initial delivery to the trust of approximately $420 million in automobile loans acquired from Olympic's network of auto dealers. In addition, approximately $180 million will be available to purchase receivables to be delivered in the near future.

"The spreads we've achieved with this securitization are the most profitable in our six year history," said Olympic President, Chairman and Chief Executive Officer, Jeffrey C. Mack. "Effective spread management through the use of hedging strategies, along with the higher yield achieved as we continue to grow our Classic program, has allowed us to realize our most favorable interest rate spreads and should allow us additional reserve flexibility. We are extremely pleased with the results of this securitization."

Olympic Financial Ltd. is a Minneapolis-based consumer finance company which purchases, sells and services prime retail installment contracts for new and used automobiles originated by more than 5,400 dealers nationwide. Olympic is the largest independent provider of automobile financing. The company, which was founded in 1990, has Regional Buying Centers in Arizona, Northern and Southern California, Colorado, Florida, Georgia, Massachusetts, Minnesota, Missouri, New York, North Carolina, Ohio, Tennessee, North and South Texas and Washington. The company acquires loans through the 16 Regional Buying Centers and has expanded its dealer network to include dealers in 38 states.
 -0- 3/7/96


/CONTACT: John A. Witham, Chief Financial Officer of Olympic Financial, 612-942-9880/

(OLYM)

CO: Olympic Financial, Ltd. ST: Minnesota IN: FIN SU:

KG-CC -- MNTH016 -- 1244 03/07/96 15:21 EST
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Date:Mar 7, 1996
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