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NEWS RELEASE . . . .
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(BW)(CITYSCAPE)(CTYS) Cityscape offers $300 million of its Senior Notes due 2004
Business Editors
ELMSFORD, N.Y. -- (BUSINESS WIRE) -- April 28, 1997 -- Cityscape
Financial Corp. (Nasdaq:CTYS) today announced that it is offering in a private
placement $300 million in aggregate principal amount of its Senior Notes due
2004. The Notes are noncallable for four years. The offering is scheduled to be
completed in early May.
The proceeds from the offering will be used to repay indebtedness and
for general corporate purposes.
The Notes have not been registered under the Securities Act of 1933, as
amended, and may not be offered or sold within the United States absent
registration or an applicable exemption from such registration requirements.
Cityscape Financial Corp. is a consumer finance company that, through
its wholly-owned subsidiaries, Cityscape Corp. and Cityscape (UK) Ltd., is
engaged in the business of originating, purchasing, selling and servicing
mortgage loans in the United States and the United Kingdom, secured primarily
by one- to four- family residences. Cityscape was founded in 1985 and is
headquartered in Elmsford, New York, with regional processing offices in
California, Georgia, Illinois and Virginia.
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CONTACT: Robert C. Patent, EVP
Tim S. Ledwick, CFO
Cityscape Financial Corp.
(914) 592-6677
or
Michele Katz/Geoffrey Buscher/Jason Langer
Press: Stan Froelich/Elisabeth Philippe
Morgen-Walke Associates
(212) 850-5600
[MORGEN-WALKE ASSOCIATES, INC. LETTERHEAD]
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