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COASTAL NATURAL GAS COMPLETES $750 MILLION CREDIT AGREEMENT

 HOUSTON, June 7 /PRNewswire/ -- The Coastal Corporation (NYSE: CGP), announced today that one of its subsidiaries, Coastal Natural Gas Company, has completed a three-year, $750 million revolving credit agreement with a syndicate of banks led by Citibank, N.A. and Bankers Trust Company.
 The new credit agreement replaces a similar bank facility of $500 million that would have expired early next year and other credit facilities. Borrowings under the new arrangement will refinance and extend the maturity of existing indebtedness.
 The Coastal Corporation is a Houston-based holding company with consolidated assets of $10 billion and subsidiary operations in natural gas marketing, transmission and storage, refining and marketing, oil and gas exploration and production, coal, chemicals, trucking and independent power production.
 -0- 6/7/93
 /CONTACT: Dave Scott of Coastal Corporation, 713-877-3839/
 (CGP)


CO: The Coastal Corporation ST: Texas IN: OIL SU:

PS-OS -- NY036 -- 5967 06/07/93 11:11 EDT
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Publication:PR Newswire
Date:Jun 7, 1993
Words:150
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