MINNEAPOLIS, Oct. 10 /PRNewswire/ -- Arcadia Financial Ltd. (NYSE: AAC)
announced today that Donaldson, Lufkin & Jenrette Securities Corporation, the
lead underwriter on the company's March 1997 offering of $300,000,000 of
units, each unit consisting of $1,000 principal amount of 11.5% Senior Notes
due 2007 and a warrant to purchase 6.84 shares of common stock, has determined
that the Notes and the warrants will trade separately on and after October 10,
1997.
Arcadia Financial Ltd. is a Minneapolis-based consumer financial services
company specializing in purchasing, selling and servicing retail installment
contracts for new and used automobiles originated by more than 8,800 dealers
in 42 states. The company, founded in 1990, is the nation's largest
independent provider of automobile financing. Its 18 Regional Buying Centers
are located in Arizona; northern and southern California; Colorado; Florida;
Georgia; Maryland; Massachusetts; Minnesota; Missouri; New York; North
Carolina; Ohio; Tennessee; north, south and west Texas; and Washington.
SOURCE Arcadia Financial Ltd.
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CONTACT:
Scott R. Fjellman, Director, Investor
Relations of Arcadia Financial, 612-944-4582
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