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: January 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: January 27,1998 NEWCOURT CREDIT GROUP INC.
By: John P. Stevenson
Corporate Secretary
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Trading Symbol: NCT Contact: John Sadler
Exchange Listings: Toronto Senior Vice President
Montreal Corporate Affairs
New York (416) 594-2400
Newcourt selected as lead international financing partner for
US$1.1 billion toll highway in Israel
Toronto, Canada, January 26, 1998 - Newcourt Credit Group today
announced that the Government of Israel has selected the Derech Eretz
Consortium (DEC) as the preferred bidder to finance, design, build and
operate an 86 km highway across central Israel between Gedera and Hadera
around Tel Aviv. Newcourt is the lead arranger of international debt
for DEC and played a key role in structuring the financing for the bid.
The financing for the project is a highly structured blend of
institutional and bank funding involving bank debt, bonds and equity.
Newcourt is the lead arranger and underwriter of the US$250 million
private placement international financing and Israeli-based Bank
Hapoalim is the lead arranger for the US$750 million domestic funds. The
DEC members will be investing in excess of US$100 million of equity into
the project.
"The Government of Israel's first priority was to have the lowest
possible toll rate," said Warren Thomson, Managing Director of
Newcourt's Public Sector financing group who was instrumental in
structuring and negotiating the transaction. "The structure minimizes
tolls and optimizes the use of the state-offered revenue guarantee."
DEC is an Isreali-based international consortium that includes the
Canadian highway developer Canadian Highways International Corporation
(CHIC), which is an equal partnership of four leading companies: AGRA
Monenco Inc., Armbro Construction Ltd., BFC Construction Corporation and
Dufferin Construction Company, a division of St. Lawrence Cement Inc.
"This project builds on Newcourt's strategic alliance with CHIC, formed
in 1996 with Canada's first privately financed toll road, Highway 104 in
Nova Scotia," noted Thomson. "With CHIC we have been able to transfer
toll highway expertise developed in Canada to the international arena".
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"The Israeli highway is an example of the type of transaction that will
be targeted with the combined strength and global reach of Newcourt and
AT&T Capital," said David McKerroll, President of Newcourt Capital,
Newcourt's Corporate Finance Unit. Newcourt announced the acquisition
of AT&T Capital in December 1997 and closed the transaction January 12,
1998.
The combination of Newcourt Credit Group and AT&T Capital creates one of
the world's leading sources of asset-based financing serving the
corporate, commercial and institutional markets with owned and managed
assets of C$29.2 billion (US$20.7 billion, L12.2 billion) at September
30, 1997, and a global distribution capability in 24 countries.
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