New Century Financial Corp., Irvine, Calif., has announced plans for a private placement of $175 million of convertible senior notes due 2008.An additional $35 million of the notes may be issued at the option of the initial purchasers, New Century said. The company plans to use the net proceeds of the offering for a variety of purposes, including securitizations, stock repurchases, and the purchase of call options on its common stock from an affiliate of one of the initial purchasers. New Century can be found on the Web at http://www.ncen.com.
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