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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
March 9, 1994 Commission File No. 1-7361
(Date of earliest event reported)
AMERICAN FINANCIAL CORPORATION
Incorporated under the laws of Ohio IRS Employer
Identification No. 31-0624874
One East Fourth Street
Cincinnati, Ohio 45202
Phone: (513) 579-2538
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AMERICAN FINANCIAL CORPORATION
FORM 8-K
Item 5. Other Events.
On March 9, 1994, American Financial Corporation
("AFC") announced that it increased the interest rate of the
debentures being offered in its current Exchange Offer to 9 3/4%
from 9 1/2% and called certain debenture issues for redemption.
See attached News Release.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
(a) Not Applicable
(b) Not Applicable
(c) News Release
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.
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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 duly authorized.
AMERICAN FINANCIAL CORPORATION
March 17, 1994 By: /s/
Fred J. Runk
Vice President and Treasurer
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AMERICAN FINANCIAL CORPORATION
INCREASES INTEREST RATE OF
NEW DEBENTURES
AND
CALLS CERTAIN DEBENTURES FOR REDEMPTION
FOR IMMEDIATE RELEASE
(Cincinnati, Ohio -- March 9, 1994) American Financial
Corporation ("AFC") announced today that it has increased the
interest rate of the debentures being offered in the current
Exchange Offer for its presently outstanding debentures. The
interest rate of the new debentures is being increased to 9-3/4%
from 9-1/2%. The cash premium, accrued interest and the other
terms of the Exchange Offer remain the same. The Offer is still
scheduled to expire at 5:00 PM, Eastern Time, on March 25, 1994.
The increased interest rate will be paid in connection with
all debentures exchanged in the Offer, whether tendered to the
Company already, or up to the Expiration Date. Notices of the
revision are being mailed to all holders of record.
Additionally, it has called for redemption all $73.5 million
outstanding principal amount of its 13-1/2% Debentures and 13-
1/2% Series A Debentures due 2004. The redemption price is 100%
of principal amount. The redemption price and accrued interest
to April 11, 1994, the redemption date, will be paid upon
surrender of debenture certificates to the Paying Agent,
Securities Transfer Company. Notices of redemption are being
mailed to all holders of record.
Holders of the Debentures called for redemption may accept
the Exchange Offer up to the expiration date or redemption date,
whichever is earlier.
All debentureholders of record have previously been mailed
offering materials. Requests for additional copies of the
materials should be directed to the Exchange Agent, Securities
Transfer Company at (800) 368-3417 or (513) 579-2414 or by fax at
(513) 621-1583.
AFC is a holding company engaged in property and casualty
insurance, annuity programs and portfolio investing. AFC also
owns a significant portion of the voting equity securities of
several publicly owned companies.
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FOR FURTHER INFORMATION,
PLEASE CONTACT:
Sandra W. Heimann
Telephone: 513/579-2121
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