Delta Financial recently priced its first deal since restructuring its corporate debt in August, an event marking the end of a slow-growth period for the company, according to a company source who asked not to be named.

"We're now back in growth mode, but we've always believed in controlled growth," the source said, projecting between 15% and 20% expansion per annum. Delta's origination had slowed during the second and third quarter, as the company worked to extinguish its high yield debt, essentially swapping the cashflow from its residual portfolio and other assets for its outstanding bonds (see ASR 9/10/01).

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