PPM America Inc/IL – ‘SC 13G/A’ on 2/12/99 re: GT Bicycles Inc

As of:  Friday, 2/12/99   ·   Accession #:  950131-99-884   ·   File #:  5-46653

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Amendment to Statement of Beneficial Ownership   —   Schedule 13G
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13G/A    Amendment to Statement of Beneficial Ownership         7     20K 

Document Table of Contents

SC 13G/A
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                                           -------------------------------
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UNITED STATES 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934 

(Amendment No. 1)*  

GT Bicycles, Inc. 
------------------------------------------------------------------------------- 
(Name of Issuer)  

Class A Common Stock  
------------------------------------------------------------------------------- 
(Title of Class of Securities)  

36229H101 
------------------  
(CUSIP Number)  

*The remainder of this cover page shall be filled out for a reporting person's  
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the       
disclosures provided in a prior cover page.                                     

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of   
1934 ("Act") or otherwise subject to the liabilities of that section of the Act 
but shall be subject to all other provisions of the Act (however, see the       
Notes).                                                                         

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SC 13G/A
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-----------------------                                  -----------------------
CUSIP NO. 36229H101                 13G                   Page 2 of 7 Pages 
-----------------------                                  -----------------------

------------------------------------------------------------------------------  
NAME OF REPORTING PERSON                                            
1    S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                        

PPM America, Inc.                                                   

------------------------------------------------------------------------------  
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                   
2                                                              (a) [X]        
                                                       (b) [_]

------------------------------------------------------------------------------  
SEC USE ONLY                                                        
3                                                                             

------------------------------------------------------------------------------  
CITIZENSHIP OR PLACE OF ORGANIZATION                                
4                                                                             
Delaware                                                            

------------------------------------------------------------------------------  
SOLE VOTING POWER           
5                                     
NUMBER OF                                                             
0                           
    SHARES       -----------------------------------------------------------
SHARED VOTING POWER         
BENEFICIALLY      6                                                       
0                           
OWNED BY                                                              
                 -----------------------------------------------------------
EACH               SOLE DISPOSITIVE POWER                         
7                                     
REPORTING             0                                                 

    PERSON       -----------------------------------------------------------
SHARED DISPOSITIVE POWER    
WITH          8                                                   
0                           
------------------------------------------------------------------------------  
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        
9                                                                             
0                                                                   
------------------------------------------------------------------------------  
 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10                                                                              
                                                           [_]
Not Applicable                                                      
------------------------------------------------------------------------------  
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                   
11                                                                              
0                                                                   

------------------------------------------------------------------------------  
TYPE OF REPORTING PERSON*                                           
12                                                                              
HC (See Exhibit A on Page 7 hereof)                                 

------------------------------------------------------------------------------  
*SEE INSTRUCTION BEFORE FILLING OUT!  

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Item 1(a)      Name of Issuer:                                                  

GT Bicycles, Inc.                       

Item 1(b)      Address of Issuer's Principal Executive Offices:                 

2001 E. Dyer Rd.                        
Santa Ana, CA  92705                    

Item 2(a)      Name of Person Filing:                                           

PPM America, Inc.                       

Item 2(b)      Address of Principal Business Office:                            

225 West Wacker Drive, Suite 1200       
Chicago, Illinois 60606                 

Item 2(c)      Citizenship:                                                     

Delaware                                

Item 2(d)      Title of Class of Securities:                                    

Common Stock                            

Item 2(e)      CUSIP Number:                                                    

36229H101                               

Item 3         Type of Person:                                                  

          (g) PPM America, Inc. is a parent holding company.

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SC 13G/A
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Item 4         Ownership (at December 31, 1998):                                

                   (a)  Amount owned "beneficially" within the meaning of rule
13d-3:                        

0 shares                      

(b)  Percent of class:                  

0%                            

          (c)  Number of shares as to which such person has:

                              (i)  sole power to vote or to direct the vote:
-0-   
                               (ii)  shared power to vote or to direct the vote:
-0-   
                         (iii)  sole power to dispose or to direct the
              disposition of:  -0-
                        (iv)  shared power to dispose or to direct
              disposition of:  -0-

Item 5         Ownership of Five Percent or Less of a Class:                    

                   If this statement is being filed to report the fact that as
                    of the date hereof the reporting person has ceased to be the
                  beneficial owner of more than five percent of the class of
   equity securities, check the following (x).

Item 6         Ownership of More than Five Percent on Behalf of Another Person: 

Not Applicable                          

Item 7         Identification and Classification of the Subsidiary Which        
           Acquired the Security Being Reported on by the Parent Holding
Company:                                          

Not Applicable                          

Item 8         Identification and Classification of Members of the Group:       

See Exhibit A                           

Item 9         Notice of Dissolution of Group:                                  

Not Applicable                          

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SC 13G/A
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Item 10        Certification:                                                   

                    By signing below I certify that, to the best of my knowledge
               and belief, the securities referred to above were acquired in the
               ordinary course of business and were not acquired for the purpose
          of and do not have the effect of changing or influencing the
               control of the issuer of such securities and were not acquired in
           connection with or as a participant in any transaction having
such purpose or effect.                           

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Signature 
--------- 

After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and  
correct.                                                                        

Date:  February 12, 1999                                                        

            The undersigned corporation, on the date above written, agrees
             and consents to the joint filing on its behalf of this Schedule
             13G in connection with its beneficial ownership of the security
reported herein.                                  

   PPM AMERICA, INC.

      By:  /s/ Paul Carter
                      --------------------------
       Paul Carter
                       Vice President - Compliance

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SC 13G/A
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EXHIBIT A 
--------- 

Identification and Classification of the Members of the Group.                  

  By no-action relief granted on July 5, 1991, the SEC generally stated it
would not recommend enforcement action if Prudential Corporation plc together   
with certain of its subsidiaries collectively reported beneficial ownership of  
more than 5% of a class of equity security subject to Section 13(d) of the      
Securities Exchange Act of 1934 on Schedule 13G rather than Schedule 13D.       
Therefore, PPM America, Inc., a subsidiary of Prudential Corporation plc, is    
making this filing on behalf of certain of Prudential Corporation plc's         
subsidiaries. Jackson National Life Insurance Company is a U.S. insurance       
company which is a subsidiary of Prudential Corporation plc and for which PPM   
America, Inc. serves as investment adviser.                                     

Page 7 of 7 pages 

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘SC 13G/A’ Filing		Date		First		Last			Other Filings
Filed on:		2/12/99		6					SC 13G
		12/31/98		4
		10/31/94		1
									List all Filings