In Brief: Heller Financial Readies IPO to Pay Off Its Debt

Heller Financial Inc. has filed with the Securities and Exchange Commission for an initial public offering. The size and timing of the offering were not determined.

The company said it intends to use the proceeds of the IPO to repay indebtedness of about $450 million to its parent Fuji America Holdings Inc. and also to pay a dividend to Fuji.

Fuji America, a subsidiary of Fuji Bank Ltd., would maintain its majority ownership interest in Heller.

Heller specializes in equipment financing and leasing, real estate financing, and small-business lending.

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