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RULE 424(b)(3)
FILE NO. 33-52845
SUPPLEMENT DATED JUNE 8, 1995
(To Prospectus Supplement dated June 5, 1995)
$125,000,000
FINOVA[sm]
FINOVA CAPITAL CORPORATION
6.45% NOTES DUE JUNE 1, 2000
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Interest payable June 1 and December 1
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The following replaces "Recent Development" on page S-5.
RECENT DEVELOPMENT
The Company was recently informed by one of its transportation finance
customers that the customer filed for bankruptcy protection. As a result, the
customer may not be able to perform on approximately $30 million carrying amount
of secured loans and approximately $3 million in operating lease payments. Such
operating leases have an aggregate carrying amount of approximately $46 million.
As of the date hereof, the Company is unable to assess when, if ever, the
approximately $76 million total carrying amount of such assets would be
classified as non-accruing, or whether it will be necessary to establish a
reserve or write-down with respect to such assets. The Company intends to
monitor the progress of this customer and to aggressively protect its rights
with respect to such assets. The Company believes, based on its initial
analysis, that as a result of its collateral and ownership interests in the 13
aircraft related to such loans and leases, all or substantially all of its
exposure is covered, but there can be no assurance in this regard.
