HELLER FINANCIAL INC
424B3, 1995-03-27
SHORT-TERM BUSINESS CREDIT INSTITUTIONS
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                                                          Rule 424(b)(3)
                                                          File No. 33-58716
 
Pricing Supplement No.: 20                            Dated:  March 22, 1995
(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: $25,000,000               Issue Price: 100 %

Original Issue Date: March 29, 1995         Stated Maturity Date: March 29, 2000

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

Interest Reset Dates: (If other than as specified in the Prospectus Supplement)
The 29th of March, June, September and December, commencing on March 29, 1995,
until maturity.

Interest Payment Dates: (If other than as specified in the Prospectus
Supplement)  The 29th of March, June, September and December, commencing on June
29, 1995, until maturity.
<PAGE>
 
                                                          Rule 424(b)(3)
                                                          File No. 33-58716
 
Pricing Supplement No.: 20                            Dated:  March 22, 1995
(To Prospectus dated March 17, 1993 and
Prospectus Supplement dated March 31, 1993)


Interest Determination Date(s): Two London/New York Business Days immediately
preceding the applicable 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 (+/-):  + .18%                    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:
Calculation Agent: Heller Financial, Inc.
Exchange Rate Agent: N/A
Recognized Foreign Exchange Dealers: N/A
Discount or Commission:  .213%

Other Provisions:  a)  AMOUNT ISSUED TO DATE, PRIOR TO PRICING SUPPLEMENT
                       NO. 20, UNDER MTN-SERIES F PROGRAM: $452,000,000
                   b)  CUSIP #:  42333HEB4

b) Agent:  Lehman Brothers
           Three World Financial Center
           12th Floor
           New York, New York 10285


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