SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13E-4/A-2
ISSUER TENDER OFFER STATEMENT
(Pursuant to Section 13(e)(1) of the
Securities Exchange Act of 1934)
PIONEER FINANCIAL SERVICES, INC.
(Name of the Issuer and Person Filing Statement)
8% Convertible Subordinated Debenture due 2000
(Title of Class of Securities)
723672 AB 7
(CUSIP Number of Class of Securities)
Peter W. Nauert
Chairman and Chief Executive Officer
Pioneer Financial Services, Inc.
1750 East Golf Road
Schaumburg, Illinois 60173
(708) 995-0400
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications
on Behalf of Person Filing Statement)
Copies to:
Stanley H. Meadows
McDermott, Will & Emery
227 W. Monroe Street
Chicago, Illinois 60606
(312) 372-2000
July 7, 1995
(Date Tender Offer First Published,
Sent or given to Security Holders)
ITEM 9. MATERIAL TO BE FILED AS EXHIBITS
(a)(10) Text of Press release issued by the Company on August 7, 1995.
SIGNATURE
After due inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated: August 7, 1995
PIONEER FINANCIAL SERVICES, INC.
By /s/ David I. Vickers
David I. Vickers
Treasurer and Chief Financial
Officer
EXHIBIT (a)(10)
PIONEER FINANCIAL SERVICES ANNOUNCES TENDERING
OF APPROXIMATELY $47 MILLION OF DEBENTURES
IN BOND CONVERSION OFFER
SCHAUMBURG, IL, AUGUST 7, 1995--Pioneer Financial Services, Inc.
(NYSE: PFS), a national health and life insurer, announced today that it has
completed its bond conversion offer for up to $54 million of its 8% Convertible
Subordinated Debentures due 2000. The offer, which was previously distributed
to bondholders and included a cash premium of $110 plus accrued interest for
each $1,000 in principal amount of Debentures, expired at 5:00 p.m., New York
City time, on August 4, 1995.
Preliminary indications are that approximately $46,916,000 of the
bonds were timely tendered pursuant to the offer, including approximately
$2,424,000 which were tendered subject to guaranteed delivery.
"We are pleased with the success of our bond conversion program," said
Peter W. Nauert, chairman and chief executive officer of PFS. "The increased
financial flexibility for the company should assist us in achieving our stated
overall long-term corporate goals. We have now lowered our ratio of debt and
preferred stock to total capitalization. This, in turn, has increased our
potential for achieving higher financial ratings from various industry agencies,
and attractive financial ratings are important in terms of generating increased
sales and future growth for our insurance subsidiaries."
PFS, through the operation of its subsidiaries, provides marketing,
insurance underwriting and medical utilization management services throughout
the United States.
