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FIELDCREST CANNON RECEIVES COMMITMENTS FOR REVOLVING CREDIT

 FIEDCREST CANNON RECEIVES COMMITMENTS FOR REVOLVING CREDIT
 GREENSBORO, N.C., April 1 /PRNewswire/ -- Fieldcrest Cannon, Inc. (NYSE: FLD) today announced it has received commitments from four financial institutions to underwrite a $235 million revolving credit facility, replacing the revolving credit loan agreement which matures Dec. 31, 1992.
 The First National Bank of Boston will be managing agent; the CIT Group/Business Credit, General Electric Capital Corporation, and Continental Bank Capital N.A. will act as co-agents.
 The term of the new facility will be 3-1/2 years, maturing on Dec. 31, 1995. Closing is expected in late May.
 Fieldcrest Cannon Inc. manufactures and markets bed and bath products under the Fieldcrest, St. Marys, Royal Family, Monticello, and private brand labels. Carpet and rug division products include high-quality woven and tufted carpets and rugs marketed under the Karastan and Bigelow brands.
 -0- 4/1/92
 /CONTACT: K.W. Fraser Jr., senior VP-finance of Fieldcrest Cannon, 919-665-4353/
 (FLD) CO: Fieldcrest Cannon Inc. ST: North Carolina IN: TEX SU: FNC


CK -- NY034 -- 4033 04/01/92 16:21 EST
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Publication:PR Newswire
Date:Apr 1, 1992
Words:176
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