Avco Financial Services Inc. said it completed...

Avco Financial Services Inc. said it completed a $100 million offering of 10 1/8% senior notes due Dec. 1, 1992.

The notes are priced at 99.531% and yield 10.22%, the company said. The notes are non-callable for five years and then callable at par.

Proceeds will be used for general corporate purposes and to reduce short-term commercial paper borrowings, Avco said.

Kidder, Peabody & Co. is the lead underwriter.

Newport Beach-based Avco has interests in consumer lending and insurance.