Associates Plans $1B November Stock Issue

Associates First Capital Corp. said this week that it will offer 15 million new shares of its class A common stock this month to fund growth.

The offering, which is covered under an earlier shelf registration, would raise over $1 billion at the midweek share price of $67.875. It is expected to be made by the end of November.

Associates has racked up double-digit internal growth this year, a spokesman said, and has announced deals to buy consumer finance companies in the United States, Japan, and Canada as well as an insurance company and a credit card company.

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