[Federal Register Volume 62, Number 62 (Tuesday, April 1, 1997)]
[Notices]
[Page 15552]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-8225]


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SECURITIES AND EXCHANGE COMMISSION

Issuer Delisting; Notice of Application To Withdraw From Listing 
and Registration (USL Capital Corporation, 8\3/4\% Senior Notes Due 
December 1, 2001); File No. 1-4976

March 26, 1997.
    USL Capital Corporation (``Company'') has filed an application with 
the Securities and Exchange Commission (``Commission''), pursuant to 
Section 12(d) of the Securities Exchange Act of 1934 (``Act'') and Rule 
12d2-1(d) promulgated thereunder, to withdraw the above specified 
securities (``Securities'') from listing and registration on the 
American Stock Exchange, Inc. (``Amex'').
    The reasons explained in the application for withdrawing the 
Securities from listing and registration include the following:
    The Company issued $200,000,000 principal amount of its Security 
under an Indenture dated July 1, 1991. The Securities were listed on 
the Amex and registered under Section 12(b) of the Securities Exchange 
Act of 1934, as amended. As of the date hereof, Securities in the 
principal amount of $200,000,000 remain outstanding. As of December 31, 
1996, there was only one registered holder of the Securities, which 
were beneficially owned by 64 participants of The Depository Trust 
Company.
    In making the decision to withdraw the Securities from listing on 
the AMEX, the Company considered the direct and indirect costs and 
expenses attendant on maintaining the listing of the Securities on the 
AMEX and complying with the reporting requirements of the Act, the 
small number of record and beneficial holders of the Securities, the 
availability of a market maker for the Securities, the fact that the 
Company has no other publicly traded debt or equity securities and the 
availability of information with respect to the co-obligor of the 
Securities, Ford Motor Credit Company. Further, it is the Company's 
understanding that the Securities have not traded on the Amex for some 
time and that any transactions involving the Securities have been 
conducted off the exchange. As a result of the foregoing, the Company 
does not see any particular advantage in the continued listing of the 
Securities on an exchange.
    The Company has complied with Rule 18 of the AMEX by filing with 
the AMEX a certified copy of resolutions adopted by the Company's Board 
of Directors authorizing the withdrawal of the Securities from listing 
on the AMEX and by setting forth in detail to the AMEX the reasons for 
such proposed withdrawal and the facts in support thereof.
    Any interested person may, on or before April 16, 1997, submit by 
letter to the Secretary of the Securities and Exchange Commission, 450 
Fifth Street, NW., Washington, D.C. 20549, facts bearing upon whether 
the application has been made in accordance with the rules of the 
exchange and what terms, if any, should be imposed by the Commission 
for the protection of investors. The Commission, based on the 
information submitted to it, will issue an order granting the 
application after the date mentioned above, unless the Commission 
determines to order a hearing on the matter.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 97-8225 Filed 3-31-97; 8:45 am]
BILLING CODE 8010-01-M