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MARGARETTEN FINANCIAL CORPORATION PRICES OFFERING OF $150 MILLION OF LONG-TERM SENIOR DEBT

 PERTH AMBOY, N.J., June 3 /PRNewswire/ -- Margaretten Financial Corporation (NYSE: MRG), a leading residential mortgage banker, announced today the pricing of a public offering of $150 million of its 6-3/4 percent notes due June 15, 2000. The offering is being made through Goldman, Sachs & Co., Salomon Brothers Inc and Smith Barney, Harris Upham & Co. Incorporated. Proceeds from the sale of the notes will be used to prepay a portion of the company's outstanding bank debt and for general corporate purposes, including possible acquisitions.
 An application has been made to list the notes on the New York Stock Exchange. A copy of the prospectus relating to the offering may be obtained from Goldman, Sachs & Co., 85 Broad St., New York, NY 10004; Salomon Brothers Inc, 7 World Trade Center, New York, NY 10048; and Smith Barney, Harris Upham & Co. Incorporated, 1345 Avenue of the Americas, New York, NY 10105.
 Margaretten Financial Corporation, through its mortgage banking subsidiary, Margaretten & Company, Inc., engages in the origination, purchase, sale and servicing of residential mortgage loans. Its retail division maintains 64 branches and satellite offices in 18 states, and its wholesale division operates primarily in California, the Pacific Northwest, Texas, Arizona and Georgia.
 -0- 6/3/93
 /CONTACT: Michele Katz or Edward Nebb of Morgen-Walke Associates, 212-850-5600, for Margaretten Financial Corp./
 (MRG)


CO: Margaretten Financial Corporation ST: New Jersey IN: FIN SU: OFR

LD-GK -- NY103 -- 4110 06/03/93 16:45 EDT
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Publication:PR Newswire
Date:Jun 3, 1993
Words:239
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