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
Date of Report (Date of earliest event reported) March 10, 1997
Mercury Finance Company
(Exact name of registrant as specified in charter)
Delaware 1-10176 36-3627010
(State of other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
100 Field Drive, Lake Forest, Illinois 60045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (847) 295-8600
N/A
(Former name or former address, if changed since last report)
Item 5. Other Events.
On March 11, 1997, the registrant issued a press release regarding the
extension of the deadline for the Company to obtain a continuation of waivers
for the Company's $50 million short-term credit facility, a copy of which is
attached as Exhibit 99.1 to this Form 8-K and incorporated herein by reference.
A copy of the letter extending the deadline is attached as Exhibit 99.2.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit No. Description of Document
99.1 Press release dated March 11, 1997 issued by the
registrant.
99.2 Letter from BankAmerica Business Credit, Inc. to the
Company dated March 10, 1997, extending the deadline
for the Company to obtain a continuation of waivers for
the Company's $50 million short-term credit facility.
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 hereunto duly authorized.
Mercury Finance Company
Date: March 11, 1997 By: /s/ Bradley Vallem
Its: AVP & Treasurer
Mercury Finance Receives Deadline Extension on $50 Million Loan
CHICAGO, March 11 /PRNewswire/ -- Mercury Finance Company (NYSE: MFN)
announced that the Bank of America has granted the company an extension of the
March 10 deadline for obtaining a continuation of waivers for the company's $50
million short-term credit facility. Waivers are required from certain lenders
whose loan agreements restrict the company's ability to pledge its assets as
collateral. Mercury is in discussions with its lenders with respect to terms
for permitting the waivers to continue.
The bank has extended the deadline for receipt of the waivers until
March 14. The bank also indicated that it is prepared to extend the maturity of
the loan to June 18, 1997, if the waivers permit.
SOURCE Mercury Finance Company
Contact: Joe Kopec or Jim Fitzpatrick of The Dilenschneider Group,
312-553-0700.
BankAmerica Business Credit, Inc.
March 10, 1997
Mercury Finance Company
100 Field Drive
Lake Forest, IL 60045
Facsimile: 847-295-8699
Re: Loan and Security Agreement dated as of February 7, 1997
Ladies/Gentlemen:
Reference is made to above-captioned Loan Agreement. Pursuant to the
terms of the Loan Agreement, the loans thereunder have matured on March 10,
1997. The undersigned agrees that it waives any right to take action under the
Loan Agreement prior to March 14, 1997 as a result of such maturity. The
undersigned acknowledges that it would be prepared, subject to receipt of all
waivers and consents necessary from other creditors of the Borrowers, as defined
under the Loan Agreement, to extend the maturity of the Loan Agreement to
June 10, 1997.
BANKAMERICA BUSINESS CREDIT, INC.,
as Agent
By:
Title:
cc: Lewis S. Rosenbloom
McDermott, Will & Emery
227 West Monroe Street
Chicago, IL 60606
Facsimile: 312-984-7700
