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: June 15, 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: June 15,1998
NEWCOURT CREDIT GROUP INC.
By: John P. Stevenson
Corporate Secretary
News Release
For immediate release
Newcourt Credit Group
Trading Symbol: NCT Contact: John Sadler
Exchange Listings: Toronto Executive Vice President
Montreal Corporate Affairs
New York (416) 594-2400
Gentra
Trading Symbol: GTA Contact: David Arthur
Exchange Listings: Toronto President and CEO
(416) 359-8537
Newcourt plans move to Gentra's Queen's Quay Terminal
TORONTO, June 15, 1998 - Newcourt Credit Group
and Gentra Inc. announced today that Newcourt,
one of the world's largest commercial and
corporate finance companies, will relocate its
Toronto head office from BCE Place to Queen's
Quay Terminal, owned by Gentra, in early 1999.
Newcourt, which currently occupies 125,000 square
feet (41/2 floors) in BCE Place, requires
additional space to accommodate the Company's
continued growth. Located on Toronto's
attractive waterfront and with ready access to
the city's main mass transportation hub, Union
Station, Queen's Quay Terminal will be renamed
Newcourt Centre.
Gentra, which bought Queen's Quay Terminal in
1997 for $58 per square foot, has initiated a
redevelopment program to upgrade the building's
quality and profile. The Newcourt lease brings
the occupancy rate to over 90% and secures
Newcourt's long term commitment to the building.
"The addition of Newcourt as a major tenant at
Queen's Quay further supports our strategy to
reposition and enhance the value of our
properties," said David Arthur, President and CEO
of Gentra.
Over the past year, Newcourt has acquired 5
companies, including Commcorp Financial Services
of Burlington, Ontario and New Jersey-based AT&T
Capital, and inherited Toronto-area offices in
Burlington and Markham. In an effort to have as
many of its employees together as possible,
Newcourt will consolidate its three exiting
Toronto-area offices into two locations. Queen's
Quay Terminal is the first of these sites to be
identified. The second location planned for
Burlington will be confirmed later this year.
<PAGE>
"We're excited about our new home and delighted
that it will bear the Newcourt name. This
building, with its unique structure and location,
is a perfect fit for an innovative company like
ours," said Borden Rosiak, Newcourt's Executive
Vice President.
"This move will allow us to achieve efficiencies,
bring together employees currently separated by
geography, and accommodate our long term growth.
In addition, when compared to the cost of our
current facilities this relocation will result in
substantial savings over the 10 year term of the
lease."
Gentra is a real estate investment company
consisting of 8.1 million square feet of
commercial real estate including a number a
number of landmark office and retail properties.
Gentra actively acquires real estate properties
for both repositioning and long term strategic
purposes. Gentra also conducts a commercial
finance business providing specialty financing to
the real estate industry.
Newcourt is one of the world's leading sources of
asset-based financing serving the corporate,
commercial and institutional markets with owned
and managed assets of $31.9 billion and a global
distribution capability in 24 countries.
- - 30 -
