UCFC Prices HEL and MH Deals

United Companies Financial Corp., Baton Rouge, La., has announced the pricing of a $375 million home equity loan securitization and a $110 million manufactured housing contract deal.UCFC Acceptance Corp., a UCFC subsidiary, will act as depositor of the trust that will issue the HEL securities, which are expected to be insured by Financial Guaranty Insurance Co. A percentage of the proceeds will be held in a prefunding account pending delivery of additional HELs to the trustee, UCFC said. Prudential Securities Inc. will be the lead underwriter for the sale, with Bear, Stearns & Co. Inc. and First Union Capital Markets serving as co-managers. In the MH deal, UCFC Funding Corp. will act as depositor of the issuing trust. The contracts backing the deal were originated mainly by United Companies Funding Inc., the parent of UCFC Funding and a subsidiary of UCFC. Credit Suisse First Boston will act as the lead underwriter, and First Chicago will be the co-manager.