HELLER FINANCIAL INC
424B3, 1994-04-20
SHORT-TERM BUSINESS CREDIT INSTITUTIONS
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<PAGE>
 
                                                               Rule 424(b)(3)
                                                               File No. 33-58716
 
Pricing Supplement No.: 7      Dated: April 15, 1994  

(To Prospectus dated March 17, 1993 and                     
Prospectus Supplement dated March 31, 1993)


 


U.S.$2,500,000,000

HELLER FINANCIAL, INC.

MEDIUM-TERM NOTES, SERIES F

(REGISTERED NOTES - FLOATING RATE)
DUE FROM NINE MONTHS TO THIRTY YEARS FROM DATE OF ISSUE

Principal Amount: $10,000,000          Issue Price: 100 %

Original Issue Date: 4/25/94           Stated Maturity Date: 4/25/99

Form: [X] Book-Entry  [_] Certificated

Depositary: Depository Trust Company

Specified Currency:  U.S. Dollars
  (If other than U.S. Dollars, see attached)

Option to Receive Payments in Specified Currency: [_] Yes [_] No
  (Applicable only if Specified Currency is other than U.S. Dollars)

Authorized Denominations:
  (Applicable only if Specified Currency is other than U.S. Dollars)

Base Rate: [_] Commercial Paper Rate [X] LIBOR [_] Treasury Rate
  [_] Federal Funds Rate [_] Prime Rate [_] Other:

Interest Reset Period: Quarterly

Interest Payment Period: Quarterly
<PAGE>
 
                                                               Rule 424(b)(3)
                                                               File No. 33-58716

Pricing Supplement No.: 7      Dated: April 15, 1994

(To Prospectus dated March 17, 1993 and                     
Prospectus Supplement dated March 31, 1993)

Interest Reset Dates: (If other than as specified in the Prospectus Supplement)
The 25th of each January, April, July, and October, of each year commencing
April 25, 1994, until maturity.
 
Interest Payment Dates: (If other than as specified in the Prospectus
Supplement)  The 25th of each January, April, July, and October, of each year
commencing July 25, 1994, until maturity.

Interest Determination Date(s): Two Business Days immediately preceding the
Interest Reset Date.
 
Initial Interest Rate: To be determined.

Index Maturity: 3-month.

Day Count Convention:  Actual/360

Maximum Interest Rate: N/A           Minimum Interest Rate:  N/A

Spread (+/-): +.30%                  Spread Multiplier: N/A

Optional Redemption: [_] Yes [X] No
     Initial Redemption Date:

     The Redemption Price shall initially be   % of the principal amount of the
     Note to be redeemed and shall decline at each anniversary of the Initial
     Redemption Date by   % of the principal amount to be redeemed until the
     Redemption Price is 100% of such principal amount.

Optional Repayment: [ ] Yes [X] No
     Optional Repayment Dates:
     Optional Repayment Prices:

Repayment Provisions:
     (If other than as specified in the Prospectus Supplement)

Discount Note: [_] Yes [X] No
     Total Amount of OID:
     Yield to Maturity:
     Initial Accrual Period OID:
<PAGE>
 
                                                               Rule 424(b)(3)
                                                               File No. 33-58716

Pricing Supplement No.: 7      Dated: April 15, 1994  

(To Prospectus dated March 17, 1993 and                     
Prospectus Supplement dated March 31, 1993)

Calculation Agent: Heller Financial, Inc.

Exchange Rate Agent: N/A

Recognized Foreign Exchange Dealers: N/A

Discount or Commission: .20%

Other Provisions:  a)  AMOUNT ISSUED TO DATE, PRIOR TO PRICING SUPPLEMENT
                            NO.7, UNDER MTN SERIES F PROGRAM: $159,000,000
                   b)  CUSIP #:  42333HDN9

Agent:  Chemical Securities Inc.
        270 Park Avenue
        New York,  NY  10017-2070


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