SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: October 12, 1995
(Date of earliest event reported)
USL CAPITAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
1-4976 94-1360891
(Commission File Number) (IRS Employer Identification No.)
733 Front Street
San Francisco, California 94111
(Address of principal executive offices) (Zip Code)
Registrant's Telephone number, including area code: (415) 627-9000
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Item 5. Other Events.
On October 12, 1995, Ford Motor Company ("Ford") filed with the
Securities and Exchange Commission a Current Report on Form 8-K
incorporating by reference the news release dated October 12, 1995 attached
hereto as Exhibit 20.1.
On October 12, 1995, Ford Holdings, Inc. (whose outstanding common
stock is owned by Ford) filed with the Securities and Exchange Commission
a Current Report on Form 8-K incorporating by reference the news release
dated October 12, 1995 attached hereto as Exhibit 20.2. Registrant is a
wholly-owned subsidiary of Ford Holdings, Inc.
Item 7. Financial Statements. Pro-Forma Financial Information and Exhibits.
EXHIBITS
Designation Description Method of Filing
Exhibit 20.1 Ford Motor Company
News release dated
October 12, 1995. Filed with this Report
Exhibit 20.2 Ford Holdings, Inc.
News release dated
October 12, 1995. Filed with this Report
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized on the date indicated.
USL CAPITAL CORPORATION
(Registrant)
Date: October 17, 1995 By: /s/ Henry Lerner
Henry Lerner
Secretary
EXHIBIT INDEX
DESIGNATION DESCRIPTION PAGE
Exhibit 20.1 Ford Motor Company News
release dated October 12, 1995.
Exhibit 20.2 Ford Holdings Inc. News
release dated October 12, 1995.
EXHIBIT 20.1
[Ford Motor Company Logo] Global News Communications
Ford Motor Company
The American Road
Room 904
Dearborn, Michigan 48121
Telephone: (313) 322-9600
Fax: (313) 946-0670
(313) 337-1764
NEWS IMMEDIATE RELEASE
Contact: Terry Bresnihan (313) 322-9600
Mary Joseph (313) 322-4466
FORD REVIEWING STRATEGY FOR FINANCE UNITS
DEARBORN, Mich., Oct. 12 -- Ford Motor Company will file a
Current Report on Form 8-K with the Securities and Exchange
Commission stating that the company is reviewing possible
strategic actions with respect to its Financial Services Group.
Such actions could include the partial or complete sale of
USL Capital and the partial sale of The Associates, the
non-automotive financing businesses in the Financial Services Group.
"It is premature to determine whether any actions will occur
or, if they do, when they would occur," said Ken Whipple, president,
Ford Financial Services Group. "We are carefully considering what
is best for Ford Motor Company and its shareholders."
The non-automotive financing businesses of Ford's Financial
Services Group consist principally of the domestic and international
activities of The Associates, which specializes in consumer and
commercial finance, and USL Capital, which specializes in commercial
leasing and financing.
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10-12-95
EXHIBIT 20.2
[Ford Motor Company Logo] Global News Communications
Ford Motor Company
The American Road
Room 904
Dearborn, Michigan 48121
Telephone: (313) 322-9600
Fax: (313) 946-0670
(313) 337-1764
NEWS IMMEDIATE RELEASE
Contact: Terry Bresnihan (313) 322-9600
Mary Joseph (313) 322-4466
FORD HOLDINGS TO BUY BACK PREFERRED STOCK
DEARBORN, Mich., Oct. 12 -- Ford Holdings Inc., a subsidiary of
Ford Motor Company, will file with the SEC early next week its
intention to exchange for cash its publicly held preferred stock
(approximately $2 billion). The filing is subject to approval by
the Ford Holdings Board of Directors.
If approved, Ford Holdings will pay shareholders the price at
which the stock was originally issued, plus accrued dividends.
Ford Holdings, formed in 1989, owns and manages a number of
assets for Ford Motor Company, including the non-automotive
financing businesses.
"Buying back the publicly held preferred stock will further
strengthen our capital structure while eliminating the ongoing high
cost of the preferred stock dividends," said John Devine, chairman
of Ford Holdings and chief financial officer of Ford Motor Company.
"What's more, it will give us more flexibility as we review our
strategies."
Ford has announced that it is reviewing strategies for its
non-automotive finance units.
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10-12-95