| Ticker: CFN | 277 Park Avenue | |
| Exchange: New York Stock Exchange | New York, New York 10172 | |
| Industry: Financial | (212) 207-2800 |
| Type of Shares: | Common Shares | Filing Date: | 10/11/95 | |
| U.S. Shares: | 4,960,000 | Offer Date: | 2/8/96 | |
| Non-U.S. Shares: | 1,240,000 | Filing Range: | $18.00 - $20.00 | |
| Primary Shares: | 6,200,000 | Offer Price: | $21.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.29 | |
| Offering Amount: | $117,800,000 | Selling: | $0.80 | |
| Expenses: | $2,100,000 | Reallowance: | $0.10 | |
| Shares Out After: | 43,421,053 | |||
| Spin out parent firm: | Continental Grain | |||
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-2000 |
| Dillon, Read & Co. Inc. | Co-manager | (212) 906-7000 |
| Lehman Brothers Incorporated | Co-manager | (212) 640-6129 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 3/31/95 | 12/31/95 | 12/31/94 | 12/31/95 | ||
| Revenue: | $122.00 | $191.79 | $80.30 | Assets: | $815.53 |
| Net Income: | $26.09 | $44.22 | $17.10 | Liabilities: | $686.44 |
| EPS: | $0.80 | $1.39 | Equity: | $129.09 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company engages in the consumer and commercial finance business by originating and servicing home equity loans and providing financing and asset securitization expertise to originators of a broad range of loans, leases and receivables. Securitization provides significant benefits, including greater operating leverage and reduced costs of funds, in the financing of assets, such as non-conforming home equity loans, equipment leases, home improvement loans, franchise loans, commercial/multi-family loans, sub-prime auto loans and leases, small business loans and timeshare loans. Through ContiMortgage, the company is a leading originator, purchaser, seller and servicer of home equity loans made to borrowers whose borrowing needs may not be met by traditional financial institutions due to credit exceptions or other factors. Loans are made to borrowers primarily for debt consolidation, home improvements, education or refinancing and are primarily secured by first mortgages on one-to-four family residential properties. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used to repay and refinance intercompany debt owed to Continental Grain, for general corporate purposes including funding loan originations and purchases, supporting securitization transactions and other working capital needs. |
©1996 IPO Data Systems, Inc. - All rights reserved.