SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
January 8, 1997
ORION CAPITAL CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware 1-7801 95-6069054
(State or Other (Commission (I.R.S. Employer
Jurisdication of File Number) Identification No.)
Incorporation)
600 Fifth Avenue
New York, New York 10020
(Address of Principal Executive Offices) (Zip Code)
(212) 332-8080
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
On January 8, 1997, Orion Capital Corporation ("Orion
Capital") announced that it had agreed to sell $125 million of 8.73%
Capital Securities to be issued by Orion Capital Trust I, a Delaware
statutory business trust sponsored by Orion Capital.
The Capital Securities will not be registered under the
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent registration or an applicable exemption
form registration requirements. Orion has agreed to file a
registration statement in the near future.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
99.1 Press Release issued January 8, 1997.
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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 thereunto duly authorized.
ORION CAPITAL CORPORATION
Date: January 9, 1997 By: /s/ Michael P. Maloney
Senior Vice President,
General Counsel and
Secretary
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<PAGE>
EXHIBIT INDEX
Exhibit
Number Description
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99.1 Press Release issued January 8, 1997.
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From: Jeanne Hotchkiss Dawn W. Dover
(860) 674-6754 (212) 593-2655
Kekst & Company
437 Madison Avenue
New York, NY 10022
Orion Capital Corporation
NYSE - OC
FOR IMMEDIATE RELEASE
ORION CAPITAL CORPORATION TO ISSUE
FORTY-YEAR TRUST PREFERRED SECURITIES
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New York, New York (January 8, 1997) -- Orion Capital Corporation
(NYSE: OC) announced that it has agreed to sell $125 million of
8.73% Capital Securities to be issued by Orion Capital Trust I, a
Delaware statutory business trust sponsored by Orion.
The Capital Securities may be redeemed without premium on or after
January 1, 2007. Orion intends to use the net proceeds for general
corporate purposes, which may include investments in and advances
to subsidiaries, and the financing of growth and expansion.
The Capital Securities will not be registered under the Securities
Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from
registration requirements. Orion has agreed to file a registration
statement in the near future.
Orion Capital Corporation is engaged in the specialty property and
casualty insurance business through wholly-owned subsidiaries which
include EBI Companies, DPIC Companies, Connecticut Specialty
Insurance Group and Wm. H. McGee & Co., Inc., as well as through
its 81% ownership interest in Guaranty National Corporation.
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