| IPO Company Profile |
| SEC Filings | Peer IPO Companies |
| Capital Lease Funding, Inc. |
| 85 John Street, 12th Floor, New York, NY 1--38 * (212) 587-7676 |
| The company is a real estate investment trust, (REIT). The company has been primarily engaged in the business of originating, underwriting and securitizing mortgage loans secured by first liens on commercial properties which are long-term net leased. |
| Manager | Tier | Phone |
| Prudential Securities Incorporated | Lead Manager | (212) 778-5420 |
| Employees: | 20 | Financial: | SIC 6798 | |
| Type of Shares: | Common Shares | Filing Date: | 3/27/98 | |
| U.S. Shares Filed: | 6,750,000 | Filing Range: | $14.00 - $16.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $101,250,000 | |
| Primary Shares: | 6,750,000 | Expenses: | $1,112,500 | |
| Secondary Shares: | 0 | Post-IPO Shares: | 10,083,333 |
| Issuer's Law Firm: | Cadwalader, Wickersham & Taft |
| Bank's Law Firm: | Skadden, Arps, Slate, Meagher & Flom |
| Auditor: | Ernst & Young |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/97 | 12/31/97 | ||||
| Revenue: | $9.74 | Assets: | $274.38 | ||
| Net Income: | -$3.40 | Curr Assets: | |||
| EPS: | Liabilities: | $272.82 | |||
| Prior EPS: | Curr Liab: | ||||
| Cash Flow/Oper: | Equity: | $1.56 | |||
| Cash Flow/Fin: | Cash: | $4.41 | |||
| Cash Flow/Inv: | |||||
| Competition |
| The businesses in which the Company expects to engage are highly competitive with numerous companies competing for borrowers, investments and financing sources. Companies typically compete for borrowers on the basis of the interest rates and amount of loan proceeds offered as well as payment terms and services provided. The Company believes that it and its loan products compete effectively on these bases. Despite the competitive position of the Company and its products, many of the Company's competitors (including other specialty finance companies, savings and loan associations, banks, mortgage bankers, insurance companies, mutual funds, institutional investors, investment banking firms, other lenders and other entities, including other REITs) have been in existence significantly longer and have substantially greater financial and other resources than the Company and may be better established in the markets in which the Company currently operates. |
| Business Plan |
| The Company plans to build on its streamlined underwriting and processing organization, national correspondent origination network, expertise in Credit Tenant Leases and Credit Tenant Loans, product innovations and increased capital as a result of the Offering to achieve its growth and profit objectives, through the following: (I) Expanding Existing Business; (ii) Introduce Value-Added, Innovative Products; (iii) Expanding the Company's Market Reach; and (iv) Acquiring Selected Property Leased to a Credit Tenant. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to pay down a portion of the outstanding balance under the Nationsbank Warehouse, retire preferred interest issued by CLF, repay notes payable to one of its limited partners and for working capital and for general corporate purposes. |