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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): May 14, 1997
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CITYSCAPE FINANCIAL CORP.
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(Exact name of registrant as specified in its charter)
DELAWARE 0-27314 11-2994671
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State or Other Jurisdiction Commission (IRS Employer
of Incorporation File Number Identification No.)
565 Taxter Road, Elmsford, New York 10523-5200
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(Address of Principal Executive Offices) Zip Code
Registrant's telephone number, including area code: (914) 592-6677
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Former name or former address,
if changed since last report
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Item 5. Other Events.
On May 14, 1997, Cityscape Financial Corp. (the "Company") completed the
private placement of $300.0 million in aggregate principal amount of its 12-3/4%
Senior Notes due 2004 (the "Notes"). Interest on the Notes will be payable in
cash semi-annually on each June 1 and December 1, commencing December 1,
1997. There are no mandatory redemption requirements with respect to the Notes.
The Company, at its option, may redeem in the aggregate up to 33-1/3% of the
original principal amount of the Notes at any time and from time to time prior
to June 1, 2000 at a redemption price equal to 112-3/4% of the principal amount
thereof plus accrued interest to the redemption date with the proceeds of one or
more public equity offerings, provided that at least $200.0 million principal
amount of Notes remain outstanding immediately after the occurrence of any such
redemption. The proceeds from the private placement were used to repay
indebtedness and for general corporate purposes.
The Notes have not been registered under the Securities Act of 1933, as
amended, and may not be offered or sold within the United States absent
registration or an applicable exemption from such registration requirements.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Current Report on Form 8-K to be signed on
its behalf by the undersigned hereunto duly authorized.
CITYSCAPE FINANCIAL CORP.
(Registrant)
By: /s/ Robert C. Patent
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Name: Robert C. Patent
Title: Executive Vice President
Dated: May 20, 1997