FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of a Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month(s) of: September 10, 1998
NEWCOURT CREDIT GROUP INC.
BCE Place, 181 Bay Street
Suite 3500, P.O. Box 827
Toronto, Ontario
Canada, M5J 2T3
[Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.]
Form 20-F / / Form 40-F /X/
[Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.]
Yes / / No /X/
[If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b)]
82-
SIGNATURES
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.
Date: September 10, 1998
NEWCOURT CREDIT GROUP INC.
By: John P. Stevenson
Corporate Secretary
News Release
For immediate release
Trading Symbol: NCT Contact:Robyn Matsumoto
Exchange Listings: Toronto Corporate Communications
Montreal (416) 594-2400
New York
Newcourt Capital to structure and fund
regional aircraft leasing
company for Fairchild Aerospace Corporation
Independent leasing company first of its
kind for regional aircraft industry
Farnborough, England, UK, September 10, 1998
- - Fairchild Aerospace Corporation and
Newcourt Capital today announced the
establishment of Millennium Leasing Company I
LLC (Millennium), an independent aircraft
leasing company to provide operating and
finance leases for Fairchild Aerospace
customers.
Based in San Antonio, Texas, Millennium is
designed to increase the sale of new and used
Fairchild Aerospace turboprop and regional
jet aircraft, and to provide a means for the
re-marketing of used aircraft taken in on
trade from Fairchild Aerospace customers.
The leasing company, the first of its kind
established for a regional aircraft
manufacturer, will initially purchase
Fairchild Aerospace's existing portfolio of
leases valued at approximately US$140 million
and will acquire and offer for lease
additional aircraft each year. Millennium's
aircraft lease portfolio is expected to reach
US$400 million within two years.
<PAGE>
"Newcourt Capital was engaged by Fairchild
Aerospace to structure the new leasing
company and provide necessary financial
backing," said Frank Raponi, Managing
Director of Newcourt Capital's aerospace
finance unit. "In addition to advising
Fairchild Aerospace on the structure,
Newcourt Capital will provide financing for
the purchase of the existing lease portfolio
and the acquisition of future aircraft to be
leased to Fairchild Aerospace customers."
Newcourt Capital will also provide ongoing
financial services to Millennium, including
advisory services for the securitization of
the aircraft portfolio, through a financial
services contract.
"Newcourt Capital has established itself as a
major player in regional aircraft financing,"
said David McKerroll, President of Newcourt
Capital. "This transaction strengthens our
position in the industry and reflects our
capabilities to service the needs of global
manufacturers such as Fairchild Aerospace."
"The establishment of Millennium Leasing
Company is an integral part of our continued
expansion in the aircraft industry," said
Carl Albert, Chairman of Fairchild Aerospace
Corporation. "Airlines are increasingly
demanding flexible financing structures and
the ability to upgrade to larger aircraft.
Newcourt Capital's structuring expertise and
financial backing helped us establish a
leasing company that allows us to meet those
demands."
Fairchild Aerospace Corporation is a leading
manufacturer of jet and turboprop aircraft
for the airline, corporate and government
markets, and provides a wide range of sales,
support, production and engineering services
for the aviation industry. In addition to
its headquarters in San Antonio, Texas, and
facilities in Oberpfaffenhofen, near Munich,
Germany, Fairchild Aerospace Corporation has
offices in Colorado Springs, Colo.;
Washington, D.C.; Toronto, Canada; Sao Paulo,
Brazil; and Sydney, Australia.
<PAGE>
Newcourt Capital is a leader in corporate
finance providing specialized asset-based
financing to the corporate, government and
institutional markets for capital equipment
acquisitions and infrastructure development.
Newcourt Capital, together with Newcourt
Financial and Newcourt Services, forms
Newcourt Credit Group, one of the world's
leading sources of asset-based financing with
owned and managed assets of US$23.1 billion
(CDN$34.0 billion) and a global capability in
24 countries.
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