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THE FOOTHILL GROUP ANNOUNCES REDEMPTION OF SUBORDINATED DEBENTURES

THE FOOTHILL GROUP ANNOUNCES REDEMPTION OF SUBORDINATED DEBENTURES
 LOS ANGELES, Sept. 30 /PRNewswire/ -- The Foothill Group Inc. (NYSE: FGI) today announced the redemption of its 12.5 percent subordinated debentures due in 1998. There are currently $4,948,000 of these debentures outstanding which will be redeemed on Oct. 30, 1992. Under the terms of the indenture dated Oct. 15, 1978, between Foothill and Irving Trust Co. (now known as The Bank of New York) as trustee, the debentures will be redeemed at a price of 100.00 percent together with accrued interest to Oct. 30, 1992.
 Don L. Gevirtz, chairman and chief executive officer, said, "Upon completion of this redemption, the parent company will have completed its strategic plan of deleveraging. The parent company will have eliminated all debt obligations which totaled $45 million as of Dec. 31, 1991."
 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 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- 09/30/92
 CONTACT: Henry K. Jordan, VP and CFO of The Foothill Group, 310-996-7000
 (FGI) CO: THE FOOTHILL GROUP INC. IN: FIN ST: CA -- LA016 -- X530 09/30/92
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Publication:PR Newswire
Date:Sep 30, 1992
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