Business Services Industry
FIRSTPLUS Supports UK Loan Originations With New $160,000,000 Loan Facility
Business Wire, August 21, 1998
DALLAS--(BUSINESS WIRE)--Aug. 21, 1998--FIRSTPLUS Financial Group, Inc. (NYSE:FP) today announced that it has executed a 100,000,000 UK Pounds Sterling (approximately $160,000,000 US) one year committed facility with Deutsche Bank UK.
FIRSTPLUS Financial Group PLC, located in Cardiff, Wales, will use the facility to fund its second lien installment loans until they are securitized in the capital markets. Borrowings under the new facility are priced at Libor plus .75%.
Dan Phillips, FIRSTPLUS Chairman and CEO said, "This new credit facility is an important element in our strategy to broaden our geographic reach and establishes us in the second lien market in the United Kingdom. Equally important, this commitment builds on our relationship with Deutsche Bank and enhances FIRSTPLUS' capability to access the global capital markets for our securitization and other capital raising activities."
FIRSTPLUS Financial Group, Inc. is an international diversified specialty finance company that, through its subsidiaries, originates, purchases, services, securitizes and sells consumer finance receivables and is headquartered in Dallas, Texas.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and which involve a number of risks and uncertainties. Reference is made to the Form 8-K filed by the Company with the Securities and Exchange Commission on December 19, 1996, for a list of, and discussion with respect to, certain factors that could cause actual results to differ materially from the forward-looking statements contained herein.
CONTACT: FIRSTPLUS Financial Group, Inc., Dallas
John Hauge, Group Executive
(214) 599-6300
or
Morgen-Walke Associates, New York
Michele Katz, Ian Hirsch
Press: Brian Maddox, Estelle Bieber
(212) 850-5600
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
- "Do not rely on a single economy" ; Larsen and Toubro (L and T) was affected due to the slowdown particularly the products businesses, which include switchgears, construction equipment and industrial bars.
- "The first deliberate call we took was not to lay off anybody" ; The diversified group decided to reskill all surplus workers.
- "Government had to step up its demand" ; The downturn affected the government as much as India Inc. The outgoing advisor to the Government of India details its impact and its lessons.
- "Help your customers even in difficult times" ; Oil was at an all-time high at over $135 per barrel just before the financial meltdown. Then oil crashed to a low of $35 per barrel in January this year, bringing down any fresh demand for pipes fr
- "You have to be visible as a leader" ; Transparency is a standard operating procedure for communications during a downturn.
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- Using object-oriented analysis and design over traditional structured analysis and design
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Design a commission plan that drives sales - Sales Commissions
- The best time to buy a car: December is not the only time to get a new set of wheels. We'll show you when to make your move to the dealer's showroom
