SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS
THERETO FILED PURSUANT TO RULE 13d-2(a)
Under the Securities Exchange Act of 1934
(Amendment No.5)*
NATIONAL AUTO FINANCE COMPANY, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
632528-10-5
- --------------------------------------------------------------------------------
(CUSIP Number)
<TABLE>
<S> <C> <C> <C>
RICHARD GOREVITZ JOSEPH P. DONLAN CHARLES B. CHOKEL RAYMOND L. BRITT, JR.
THE PRUDENTIAL INSURANCE BROWN BROTHERS THE PROGRESSIVE MANUFACTURERS LIFE
COMPANY OF AMERICA HARRIMAN & CO. CORPORATION INSURANCE CO.
ONE GATEWAY CENTER 59 WALL STREET 6300 WILSON MILLS ROAD C/O MANULIFE FINANCIAL
11TH FLOOR NEW YORK, NY 10005 MAYFIELD VILLAGE, OH 73 TREMONT STREET,
NEWARK, NJ 07102-5311 (212) 493-7882 44143 SUITE 1300
(973) 802-7003 (404) 461-5000 BOSTON, MA 02108-3915
(617) 451-5609
</TABLE>
with a copy to:
DAVID C.L. FRAUMAN
CADWALADER, WICKERSHAM & TAFT
100 MAIDEN LANE
NEW YORK, NEW YORK 10038
(212) 504-6652
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
April 1, 2000
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
/ /.
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Exchange Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE>
SCHEDULE 13D
- --------------------- ------------------
CUSIP NO. 632528-10-5 PAGE 2 OF 32 PAGES
- --------------------- ------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Progressive Corporation, 34-0963169
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|X| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
00
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)|_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Ohio
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,022,132
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,022,132
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,022,132
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)|X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
HC, CO
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- --------------------- ------------------
CUSIP NO. 632528-10-5 PAGE 3 OF 32 PAGES
- --------------------- ------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Progressive Casualty Insurance Company, 34-6513736
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|X| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
00
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)|_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Ohio
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,022,132
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,022,132
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,022,132
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)|X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IC, CO, Subsidiary of The Progressive Corporation
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- --------------------- ------------------
CUSIP NO. 632528-10-5 PAGE 4 OF 32 PAGES
- --------------------- ------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PC Investment Company, 34-1576555
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|X| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
00
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)|_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,022,132
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,022,132
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,022,132
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)|X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO, Subsidiary of Progressive Casualty Insurance Company
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- --------------------- ------------------
CUSIP NO. 632528-10-5 PAGE 5 OF 32 PAGES
- --------------------- ------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Progressive Investment Company, Inc., 34-1378861
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|X| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
00
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)|_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,022,132
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,022,132
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,022,132
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)|X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO, Subsidiary of The Progressive Corporation
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- --------------------- ------------------
CUSIP NO. 632528-10-5 PAGE 6 OF 32 PAGES
- --------------------- ------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The 1818 Mezzanine Fund, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|X| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
00
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)|_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 4,835,764
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,835,764
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,835,764
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)|X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- --------------------- ------------------
CUSIP NO. 632528-10-5 PAGE 7 OF 32 PAGES
- --------------------- ------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Brown Brothers Harriman & Co.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|X| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
00
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)|_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 4,835,764
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,835,764
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,835,764
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)|X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- --------------------- ------------------
CUSIP NO. 632528-10-5 PAGE 8 OF 32 PAGES
- --------------------- ------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Joseph P. Donlan
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|X| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
00
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)|_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
10,000
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 4,835,764
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 10,000
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,835,764
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,845,764
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)|X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- --------------------- ------------------
CUSIP NO. 632528-10-5 PAGE 9 OF 32 PAGES
- --------------------- ------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert R. Gould
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|X| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
00
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)|_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 4,835,764
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,835,764
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,835,764
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)|X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 10 OF 32 PAGES
- --------------------- -------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
T. Michael Long
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|X| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
00
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)|_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 4,835,764
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,835,764
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,835,764
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)|X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 11 OF 32 PAGES
- --------------------- -------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lawrence C. Tucker
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|X| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
00
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)|_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 4,835,764
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,835,764
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,835,764
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)|X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 12 OF 32 PAGES
- --------------------- -------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Structured Finance High Yield Fund, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|X| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
00
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)|_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 4,577,255
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,577,255
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,577,255
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)|X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
00
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 13 OF 32 PAGES
- --------------------- -------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Prudential Insurance Company of America, 22-121160
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|X| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
00
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)|_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New Jersey
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 4,577,255
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,577,255
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,577,255
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)|X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IC, IA
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 14 OF 32 PAGES
- --------------------- -------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Manufacturers Life Insurance Company (U.S.A.)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|X| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
00
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)|_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Michigan
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
2,251,517
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 2,251,517
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,251,517
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)|X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IC
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 15 OF 32 PAGES
- --------------------- -------------------
ITEM 1. SECURITY AND ISSUER.
This Amendment No. 5 to the Schedule 13D filed on behalf of the
Progressive Entities (as defined below) on December 31, 1997, the Schedule 13D
filed on behalf of the BBH Entities (as defined below) on December 30, 1997, and
the Schedule 13G filed on behalf of the Prudential Entities (as defined below
and, together with the Progressive Entities, the BBH Entities and ManuLife (as
defined below), the "Reporting Persons") on April 26, 1999, as amended by
Amendment No. 1 to the Schedule 13D filed on May 6, 1999 ("Amendment No. 1)",
Amendment No. 2 to the Schedule 13D filed on July 12, 1999 ("Amendment No. 2"),
Amendment No. 3 to the Schedule 13D filed on October 18, 1999 ("Amendment No.
3"), and Amendment No. 4 to the Schedule 13D filed on February 4, 2000
("Amendment No. 4"), is being filed in connection with changes in the Reporting
Persons' beneficial ownership of the shares of Common Stock, par value $0.01 per
share (the "Common Stock"), of National Auto Finance Company, Inc., a Delaware
corporation (the "Issuer").
In addition, this Amendment No. 5 is being filed on behalf of
Manufacturers Life Insurance Company (U.S.A.), a corporation organized under the
laws of Michigan ("ManuLife"), relating to shares of Common Stock of the Issuer
beneficially owned by ManuLife.
This Amendment No. 5 amends Items 1, 2, 4, 5 and 6 of Schedule
13D.
ITEMS 2(A) AND (F). NAMES OF PERSON FILING; STATE OF ORGANIZATION OR
CITIZENSHIP.
ManuLife is an insurance corporation organized in the State of
Michigan. ManuLife is filing this statement by virtue of its beneficial
ownership of 2,251,517 shares of Common Stock (which includes convertible notes
to purchase 184,721 shares of Common Stock as of July 1, 1999; 203,400 shares of
Common Stock as of October 1, 1999; 209,438 shares of Common Stock as of January
1, 2000; and 215,656 shares of Common Stock as of April 1, 2000), and warrants
("Warrants") to purchase 259,731 additional shares of Common Stock. ManuLife's
principal business address is c/o ManuLife Financial, 73 Tremont Street, Suite
1300, Boston, MA 02108-3915.
Set forth on Appendix A-4 hereto and incorporated by reference
herein is (i) the information called for in Items 2(a)-(f) for each executive
officer and director of ManuLife and for each executive officer and director of
its ultimate parent, ManuLife Financial Corporation, and (ii) the name, state or
other place of organization, principal business, address of its principal office
and the information required by Items 2(d) and (e).
ITEM 2(D).
During the last five (5) years, neither ManuLife nor any
executive officer or director of ManuLife has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors).
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 16 OF 32 PAGES
- --------------------- -------------------
During the last five (5) years, neither ManuLife Financial
Corporation nor any executive officer or director of ManuLife Financial
Corporation has been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors).
ITEM 2(E).
During the last five (5) years, neither ManuLife nor any
executive officer or director of ManuLife has been a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction resulting in a
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state securities laws or finding
any violation with respect to such laws.
During the last five (5) years, neither ManuLife Financial
Corporation nor any executive officer or director of ManuLife Financial
Corporation has been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction resulting in a judgment, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding any violation
with respect to such laws.
ITEM 4. PURPOSE OF TRANSACTION.
Except as described herein, ManuLife does not have any present
plans or proposals that relate to or would result in any of the events described
in Items (a) through (j) of Item 4 of Schedule 13D.
ManuLife reserves the right in the future to formulate plans or
proposals, and to take action required to implement such plans or proposals,
with respect to any or all of the matters referred to in Items (a) through (j)
of Item 4 of Schedule 13D or with respect to any other matters ManuLife deems
advisable. ManuLife reserves the right, either alone or together with one or
more other persons (including other Reporting Persons), to have discussions with
management, members of the Issuer's board of directors (including other Board
Representatives) and other stockholders (including other Reporting Persons) of
the Issuer regarding the management, operations and future plans with respect to
or affecting the Issuer.
In addition, ManuLife intends to review its holdings with respect
to the Issuer on a continuing basis. Depending on the Issuer's business and
prospects, and upon future developments (including, but not limited to, market
prices of the Common Stock and availability and alternative uses of funds, as
well as conditions in the securities markets and general economic and industry
conditions), ManuLife may acquire other securities of the Issuer, sell all or a
portion of its shares of Common Stock or other securities of the Issuer, now
owned or hereinafter acquired, or maintain its position at current levels.
Accordingly, ManuLife reserves the right to acquire additional securities of the
Issuer or to dispose of some or all of the securities of the Issuer beneficially
owned by it either in the open market, in privately negotiated transactions or
otherwise, or take such other action or actions with respect to the Common Stock
as it deems advisable, to the extent permitted under applicable federal and
state securities law. However, ManuLife has no present intention of engaging in
any such transaction.
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 17 OF 32 PAGES
- --------------------- -------------------
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) On April 1, 2000, the Issuer issued to the Reporting Persons,
as the holders of the Issuer's Convertible Senior Subordinated Promissory Notes
due December 22, 2004 (the "Convertible Notes"), a copy of a form of which was
previously filed as Exhibit 7.8 to Amendment No. 2 and is incorporated herein by
reference, additional Convertible Notes in the total aggregate principal amount
of $970,456.00 in lieu of the interest accrued on the Convertible Notes. The
Convertible Notes are convertible, at the option of the holder thereof, at a
price of $0.75 per share, into shares of Common Stock. Additional Convertible
Notes shall be identical in form and substance, and shall entitle the holder
thereof, to the benefits of such Convertible Notes.
In connection with the issuance on April 1, 2000 of additional
Convertible Notes (as described above), of which PC Investment Company, a
Delaware corporation ("PCI") was issued a note in the principal amount of
$226,440.00, PCI shall be deemed to have acquired beneficial ownership of an
additional 301,920 shares of Common Stock. Accordingly, each of The Progressive
Corporation, an Ohio corporation ("Progressive"), Progressive Casualty Insurance
Company, an Ohio corporation ("Progressive Casualty"), PCI and Progressive
Investment Company, Inc., a Delaware corporation ("Progressive Investment" and,
together with Progressive, Progressive Casualty and PCI, the "Progressive
Entities"), may be deemed to beneficially own 5,022,132 shares of Common Stock
(the "Progressive Shares"), or 26.7% of the Issuer's Common Stock, which
percentage is calculated based upon (i) 17,280,762 shares of Common Stock
represented by the Issuer to be issued and outstanding on April 4, 2000, plus
(ii) 363,623 shares of Common Stock issuable upon exercise of the Warrants held
by Progressive Investment, and (iii) 1,138,509 shares of Common Stock issuable
upon conversion of the Convertible Notes held by PCI, for a total of 18,782,894
outstanding shares, accounting for securities deemed to be outstanding under
Rule 13d-3(d)(1)(i)(D) of the Securities Exchange Act of 1934 (the "Exchange
Act"). There is shared voting power with respect to 4,230,000 shares of Common
Stock owned by National Auto Finance Company, L.P., a Delaware limited
partnership, with respect to which the Progressive Entities, the BBH Entities,
the Prudential Entities and ManuLife have an irrevocable proxy to vote (the
"Partnership Shares"). The Progressive Entities disclaim beneficial ownership of
the Partnership Shares, the BBH Shares (as defined below), the Prudential Shares
(as defined below) and the ManuLife Shares (as defined below).
In connection with the issuance on April 1, 2000 of additional
Convertible Notes (as described above), of which The 1818 Mezzanine Fund, L.P.,
a Delaware limited partnership (the "Fund") was issued a note in the principal
amount of $258,788.00, the Fund shall be deemed to have acquired beneficial
ownership of an additional 345,050 shares of Common Stock. Accordingly, each of
the Fund, Brown Brothers Harriman & Co., a New York limited partnership
("BBH&Co."), Robert R. Gould, a United States citizen ("Gould"), T. Michael
Long, a United States citizen ("Long"), and Lawrence C. Tucker, a United States
citizen ("Tucker"), may be deemed to beneficially own 4,835,764 shares of Common
Stock (the "BBH Shares"), or 25.5% of the Issuer's Common Stock, which
percentage is calculated based upon (i) 17,280,762 shares of Common Stock
represented by the Issuer to be issued and outstanding on April 4, 2000,
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 18 OF 32 PAGES
- --------------------- -------------------
plus (ii) 415,570 shares of Common Stock issuable upon exercise of the Warrants
held by the Fund, and (iii) 1,301,147 shares of Common Stock issuable upon
conversion of the Convertible Notes held by the Fund, for a total of 18,997,479
outstanding shares, accounting for securities deemed to be outstanding under
Rule 13d-3(d)(1)(i)(D) of the Exchange Act. There is shared voting power with
respect to the Partnership Shares. In addition, Joseph P. Donlan, a United
States citizen ("Donlan" and, together with the Fund, BBH&Co., Gould, Long and
Tucker, the "BBH Entities"), may be deemed to beneficially own 4,845,764 shares
of Common Stock, or 25.5% of the Issuer's Common Stock, which percentage is
calculated based upon (i) 17,280,762 shares of Common Stock represented by the
Issuer to be issued and outstanding on April 4, 2000, plus (ii) 415,570 shares
of Common Stock issuable upon exercise of the Warrants held by the Fund, (iii)
1,301,147 shares of Common Stock issuable upon conversion of the Convertible
Notes held by the Fund, and (iv) 10,000 shares of Common Stock that Donlan may
purchase pursuant to stock options granted to him under the 1996 Share Incentive
Plan of the Issuer, for a total of 19,007,479 outstanding shares, accounting for
securities deemed to be outstanding under Rule 13d-3(d)(1)(i)(D) of the Exchange
Act. There is shared voting power with respect to the Partnership Shares. The
BBH Entities disclaim beneficial ownership of the Partnership Shares, the
Progressive Shares, the Prudential Shares (as defined below), and the ManuLife
Shares (as defined below). Donlan, Gould, Long and Tucker disclaim beneficial
ownership of the BBH Shares.
In connection with the issuance on April 1, 2000 of additional
Convertible Notes (as described above), of which The Structured Finance High
Yield Fund, LLC, a Delaware limited liability company ("SFHY") was issued a note
in the principal amount of $323,486.00, SFHY shall be deemed to have acquired
beneficial ownership of an additional 431,314 shares of Common Stock.
Accordingly, each of SFHY and The Prudential Insurance Company of America, a
mutual insurance company organized under the laws of New Jersey ("Prudential"
and, together with SFHY, the "Prudential Entities"), may be deemed to
beneficially own 4,577,255 shares of Common Stock (the "Prudential Shares"), or
23.5% of the Issuer's Common Stock, which percentage is calculated based upon
(i) 17,280,762 shares of Common Stock represented by the Issuer to be issued and
outstanding on April 4, 2000, plus (ii) 593,671 shares of Common Stock issuable
upon exercise of the Warrants held by SFHY, and (iii) 1,626,441 shares of Common
Stock issuable upon conversion of the Convertible Notes held by SFHY, for a
total of 19,500,874 outstanding shares, accounting for securities deemed to be
outstanding under Rule 13d-3(d)(1)(i)(D) of the Exchange Act. There is shared
voting power with respect to the Partnership Shares. The Prudential Entities
disclaim beneficial ownership of the Partnership Shares, the Progressive Shares,
the BBH Shares, and the ManuLife Shares (as defined below).
In connection with the issuance by the Company to ManuLife of
Convertible Notes in the amount of $609,912.00, ManuLife shall be deemed to have
acquired beneficial ownership of an additional 813,215 shares of Common Stock,
in addition to 1,178,572 shares that it previously owned. The amount of each
such Note, the date issued, and the number of shares into which each Note may be
converted (at the price of $0.75 per share of Common Stock) is as follows:
$138,541.00 pursuant to the Note issued on July 1, 1999, which may be converted
into 184,721 shares; $152,550.00 pursuant to the Note issued on October 1, 1999,
which may be converted into 203,400 shares; $157,079.00 pursuant to the Note
issued on
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 19 OF 32 PAGES
- --------------------- -------------------
January 1, 2000, which may be converted into 209,438 shares; and $161,742
pursuant to the Note issued on April 1, 2000, which may be converted into
215,656 shares. Accordingly, ManuLife may be deemed to beneficially own
2,251,517 shares of Common Stock (the "ManuLife Shares"), or 12.3% of the
Issuer's Common Stock, which percentage is calculated based upon (i) 17,280,762
shares of Common Stock represented by the Issuer to be issued and outstanding on
April 4, 2000, plus (ii) 259,730 shares of Common Stock issuable upon exercise
of the Warrants held by ManuLife, and (iii) 813,215 shares of Common Stock
issuable upon conversion of the Convertible Notes held by ManuLife, for a total
of 18,353,707 outstanding shares, accounting for securities deemed to be
outstanding under Rule 13d-3(d)(1)(i)(D) of the Exchange Act. There is shared
voting power with respect to the Partnership Shares. ManuLife disclaims
beneficial ownership of the Partnership Shares, the Progressive Shares, the
Prudential Shares and the BBH Shares.
(b) Number of Shares as to which each of the Progressive Entities
has:
(i) Sole power to vote or direct the vote:
0 shares for each Progressive Entity;
(ii) Shared power to vote or direct the vote:
5,022,132 shares for each Progressive Entity;
(iii) Sole power to dispose or to direct the disposition:
0 shares for each Progressive Entity;
(iv) Shared power to dispose or to direct the disposition:
5,022,132 shares for each Progressive Entity.
Number of Shares as to which each of the of the BBH Entities
has, accept for Donlan who has an additional 10,000 shares for which he has sole
voting power:
(i) Sole power to vote or direct the vote:
0 shares for each BBH Entity;
(ii) Shared power to vote or direct the vote:
4,835,764 shares for each BBH Entity;
(iii) Sole power to dispose or to direct the disposition:
0 shares for each BBH Entity;
(iv) Shared power to dispose or to direct the disposition:
4,835,764 shares for each BBH Entity.
Number of Shares as to which each of the Prudential Entities
has:
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 20 OF 32 PAGES
- --------------------- -------------------
(i) Sole power to vote or direct the vote:
0 shares for each Prudential Entity;
(ii) Shared power to vote or direct the vote:
4,577,255 shares for each Prudential Entity;
(iii) Sole power to dispose or to direct the disposition:
0 shares for each Prudential Entity;
(iv) Shared power to dispose or to direct the disposition:
4,577,255 shares for each Prudential Entity.
Number of Shares as to which ManuLife has:
(i) Sole power to vote or direct the vote:
2,251,517 shares;
(ii) Shared power to vote or direct the vote:
0 shares;
(iii) Sole power to dispose or to direct the disposition:
2,251,517 shares;
(iv) Shared power to dispose or to direct the disposition:
0 shares.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.
The Board of Representatives of the Fund, PCI, SFHY and ManuLife
hold a proxy with respect to the Partnership Shares. The foregoing response to
this Item 6 is qualified in its entirety by reference to the Restructuring
Agreement, each of the Purchase Agreements, as amended by the Restructuring
Agreement, the Proxy, the form of Note and the form of Warrant, each of which
was filed as an exhibit to Amendment No. 1 and is incorporated herein by
reference.
Except as described herein, to the best knowledge of ManuLife,
there are no contracts, arrangements, understandings or relationships (legal or
otherwise) between ManuLife and any other persons with respect to any securities
of the Issuer, including, but not limited to, transfer or voting of any such
securities, finder's fees, joint ventures, loan or option arrangements, puts or
calls, guarantees of profits, division of profits or loss, or the giving or
withholding of proxies, or a pledge or contingency the occurrence of which would
give another person voting power over the securities of the Issuer.
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 21 OF 32 PAGES
- --------------------- -------------------
ITEM 7. MATERIAL FILED AS EXHIBITS
Exhibit 7.1 Joint Filing Agreement (filed herewith).
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 22 OF 32 PAGES
- --------------------- -------------------
SIGNATURES.
After reasonable 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.
THE PROGRESSIVE CORPORATION
By: /s/ Charles B. Chokel
-----------------------------------------
Name: Charles B. Chokel
Title: Chief Executive Officer --
Investments and Capital Management
PROGRESSIVE CASUALTY INSURANCE COMPANY
PROGRESSIVE INVESTMENT COMPANY, INC.
PC INVESTMENT COMPANY
By: /s/ Dane A. Shrallow
--------------------------------
Name: Dane A. Shrallow
Title: Secretary
Date: May 2, 2000
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 23 OF 32 PAGES
- --------------------- -------------------
SIGNATURES.
After reasonable 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.
BROWN BROTHERS HARRIMAN & CO.
By: /s/ Robert R. Gould
--------------------------------
Name: Robert R. Gould
Title: Partner
THE 1818 MEZZANINE FUND, L.P.
Brown Brothers Harriman & Co.,
General Partner
By: /s/ Robert R. Gould
--------------------------------
Name: Robert R. Gould
Title: Partner
/s/ Joseph P. Donlan
--------------------------------
Joseph P. Donlan
/s/ Robert R. Gould
--------------------------------
Robert R. Gould
/s/ T. Michael Long
--------------------------------
T. Michael Long
/s/ Lawrence C. Tucker
--------------------------------
Lawrence C. Tucker
Date: May 2, 2000
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 24 OF 32 PAGES
- --------------------- -------------------
SIGNATURE.
After reasonable 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.
THE STRUCTURED FINANCE HIGH YIELD
FUND, LLC
THE PRUDENTIAL INSURANCE COMPANY
OF AMERICA
By: /s/ Michael J. Bozzo
---------------------------------------
Name: Michael J. Bozzo
Title: Vice President
Date: May 2, 2000
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 25 OF 32 PAGES
- --------------------- -------------------
SIGNATURE.
After reasonable 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.
MANUFACTURERS LIFE
INSURANCE COMPANY (U.S.A.)
By: /s/ Raymond L. Britt, Jr.
--------------------------------
Name: Raymond L. Britt, Jr.
Title: Vice President, Structured Finance
Date: May 2, 2000
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 26 OF 32 PAGES
- --------------------- -------------------
APPENDIX A-4
DIRECTORS AND EXECUTIVE OFFICERS
OF MANUFACTURERS LIFE INSURANCE COMPANY (U.S.A.)
The following table sets forth the name, business address, present
principal occupation or employment, and the name, principal business and address
of the principal office of any corporation or other organization in which such
employment is conducted, of each director and executive officer of Manufacturers
Life Insurance Company (U.S.A.) ("ManuLife (U.S.A.)") and of ManuLife's ultimate
parent corporation, ManuLife Financial Corporation ("ManuLife Financial").
ManuLife Financial is an Ontario, Canada-domiciled company.
PRINCIPAL OCCUPATION OR
EMPLOYMENT AND NAME, PRINCIPAL
BUSINESS AND ADDRESS OF
ORGANIZATION IN WHICH
NAME AND BUSINESS ADDRESS (1) EMPLOYMENT IS CONDUCTED
A. DIRECTORS OF MANULIFE (U.S.A.)
Felix P. Chee See Section B. below
Robert A. Cook See Section B. below
John D. DesPrez, III See Section B. below
Geoffrey I. Guy See Section D. below
James P. O'Malley See Section B. below
Joseph J. Pietroski See Section D. below
John D. Richardson See Section B. below
Rex Schlaybaugh, Jr. Attorney, Dkyema Gossett PLLC
400 Renaissance Center
Detroit, Michigan 48243-1668
B. EXECUTIVE OFFICERS OF MANULIFE (U.S.A.)
John D. DesPrez, III President
John D. Richardson Chairman
James Gallagher Secretary and General Counsel
John Vrysen Vice President, Chief Financial Officer and
Appointed Actuary
Dennis Turner Vice President and Treasurer
Felix P. Chee Executive Vice President and Chief Investment
Officer
Robert A. Cook Senior Vice President, U.S. Insurance
James P. O'Malley Senior Vice President, U.S. Group Pension
Ted Kilkuskie, Jr. Senior Vice President and Chief Distribution
Officer, U.S.
Cindy Forbes Chief Financial Officer, Investments
Peter Copestake Vice President, Finance
Stephen Rosen Assistant Secretary
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 27 OF 32 PAGES
- --------------------- -------------------
C. DIRECTORS OF MANULIFE FINANCIAL
Arthur R. Sawchuk (Chairman) Chairman of the Board
200 Bloor Street East ManuLife Financial
Toronto, Ontario
M4W 1E5
Kevin E. Benson President and CEO
Suite 2800 Canadian Airlines International Ltd.
700 Second Street S.W.
Calgary, Alberta
T2P 2W2
John M. Cassaday President and CEO
BCE Place - Suite 1630 CORUS Entertainment
181 Bay Street
P.O. Box 767
Toronto, Ontario
M5J 2T3
Lino J. Celeste Chairman
210 Bedell Avenue Aliant Inc. & NBTel. Inc.
Saint John, New Brunswick
E2K 4J6
Dr. Gail C.A. Cook-Bennett Chairperson
c/o Bennecon Ltd. Canada Pension Plan Investment Board
Suite 202
121 Richmond Street West
Toronto, Ontario
M5H 2K1
Dominic D'Alessandro President and CEO
200 Bloor Street East ManuLife Financial
Toronto, Ontario
M4W 1E5
Robert E. Dineen, Jr. Partner
Suite 1060 Shearman & Sterling
599 Lexington Avenue
New York, New York 10022-6069
Pierre Y. Ducros P. Ducros & Associates
1155 Rene Levesque Blvd. West
Suite 1012
Montreal, Quebec
H3B 2J2
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 28 OF 32 PAGES
- --------------------- -------------------
William A. Farlinger Chairman
700 University Avenue OntarioPower Generation
19th Floor, H19 A27
Toronto, Ontario
M5G 1X6
Allister P. Graham Former Chairman & Chief Executive Officer
82 Pettit Drive Oshawa Group Limited
Etobicoke, Ontario
M9R 2X2
Thomas E. Kierans Director, Clarkson Centre for Business Ethics
Suite 331, and Holder of Geoffrey R. Conway Chair at the
100 Richmond Street West Joseph L. Rotman School of Management,
Toronto, Ontario University of Toronto
M5H 3K6
Dr. Lorna R. Marsden President & Vice Chancellor
S949 Ross Building The President's Office
York University
4700 Keele Street
North York, Ontario
M3J 1P3
John D. Richardson Senior Executive Vice President
200 North Bloor Street East ManuLife Financial
Toronto, Ontario
M4W 1E5
Hugh W. Sloan, Jr. Deputy Chairman
2500 Meijer Drive The Woodbridge Group
Troy, Michigan 48084
Michael H. Wilson Vice Chairman
P.O. Box 50, 4 RBPS RBC Dominion Securities
South Tower, 4th Floor
200 Bay Street
Toronto, Ontario
M5J 2W7
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 29 OF 32 PAGES
- --------------------- -------------------
D. EXECUTIVE OFFICERS OF MANULIFE FINANCIAL
Dominic D'Alessandro President and Chief Executive Officer
John D. Richardson Senior Executive Vice President
Victor S. Apps Executive Vice President and General Manager,
Asia
Felix P. Chee Executive Vice President and Chief Investment
Officer
Richard B. Coles Executive Vice President, Investments
John D. DesPrez, III Executive Vice President, U.S. Operations
Donald A. Guloien Executive Vice President, Business Development
Trevor J. Matthews Executive Vice President, Canadian Operations
Donald A. Parker Executive Vice President and Chief
Information Officer
Peter H. Rubenovitch Executive Vice President and Chief Financial
Officer
Jim Boyle Senior Vice President, U.S. Annuities
Robert A. Cook Senior Vice President, U.S. Insurance
J. Roy Firth Senior Vice President, Wealth Management,
Canadian Division
Bruce H. Gordon Senior Vice President, Group Benefits
Geoffrey I. Guy Senior Vice President and Chief Actuary
David M. Horman Senior Vice President
Peter S. Hutchison Senior Vice President, Corporate Taxation
Theodore F. Kilkuskie, Jr. Senior Vice President and Chief Distribution
Officer (U.S.)
Edward Lau Senior Vice President, Hong Kong Operations
Beverly S. Margolian Senior Vice President and Controller
James P. O'Malley Senior Vice President, U.S. Group Pensions
Joseph J. Pietroski Senior Vice President and Corporate Secretary
Susan Robinson Senior Vice President, Human Resources
Dale W. Scott Senior Vice President and General Counsel
James R. Senn Senior Vice President and General Manager,
Reinsurance Operations
Peter Copestake Vice President and Treasurer
Richard Gourlay Vice President, Audit Services
Edwina Stoate Vice President, Investor Relations
(1) Unless otherwise indicated, the business address of each person in the table
is 200 Bloor Street East, Suite 600, Toronto, Ontario, Canada M4W 1E5.
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 30 OF 32 PAGES
- --------------------- -------------------
EXHIBIT 7.1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k)(1) of the Securities Exchange
Act of 1934, as amended, each of the undersigned hereby agrees to the joint
filing with all other Reporting Persons (as such term is defined Amendment No. 5
to Schedule 13D referred to below), on behalf of each of them, of Amendment No.
5 to Schedule 13D (including amendments thereto) with respect to the Common
Stock, par value $0.01 per share, of National Auto Finance Company, Inc., and
that this Agreement be included as an exhibit to such joint filing. This
Agreement may be executed in any number of counterparts, all of which taken
together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the undersigned have executed this agreement
as of the 2nd day of May, 2000.
THE PROGRESSIVE CORPORATION
By: /s/ Charles B. Chokel
-----------------------------------------
Name: Charles B. Chokel
Title: Chief Executive Officer --
Investments and Capital Management
PROGRESSIVE CASUALTY INSURANCE COMPANY
PROGRESSIVE INVESTMENT COMPANY, INC.
PC INVESTMENT COMPANY
By: /s/ Dane A. Shrallow
-----------------------------------------
Name: Dane A. Shrallow
Title: Secretary
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 31 OF 32 PAGES
- --------------------- -------------------
BROWN BROTHERS HARRIMAN & CO.
By: /s/ Robert R. Gould
----------------------------------------
Name: Robert R. Gould
Title: Partner
THE 1818 MEZZANINE FUND, L.P.
By: Brown Brothers Harriman & Co.
General Partner
By: /s/ Robert R. Gould
----------------------------------------
Name: Robert R. Gould
Title: Partner
/s/ Joseph P. Donlan
----------------------------------------
Name: Joseph P. Donlan
/s/ Robert R. Gould
----------------------------------------
Name: Robert R. Gould
/s/ T. Michael Long
----------------------------------------
Name: T. Michael Long
/s/ Lawrence C. Tucker
----------------------------------------
Name: Lawrence C. Tucker
THE STRUCTURED FINANCE HIGH YIELD
FUND, LLC
THE PRUDENTIAL INSURANCE COMPANY
OF AMERICA
By: /s/ Michael J. Bozzo
----------------------------------------
Name: Michael J. Bozzo
Title: Vice President
<PAGE>
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 632528-10-5 PAGE 32 OF 32 PAGES
- --------------------- -------------------
MANUFACTURERS LIFE INSURANCE COMPANY (U.S.A.)
By: /s/ Raymond L. Britt, Jr.
----------------------------------------
Name: Raymond L. Britt, Jr.
Title: Vice President,
Structured Finance
