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COLTEC INDUSTRIES TO REFINANCE BANK FACILITY

 NEW YORK, Nov. 12 /PRNewswire/ -- Coltec Industries Inc (NYSE: COT) today announced it has obtained a commitment for a $415 million reducing revolving credit facility that matures in 1999 from Bankers Trust Company.
 The new facility, which will refinance Coltec's current credit facility in its entirety, will improve interest rate pricing and enhance covenant flexibility.
 This commitment is subject to customary conditions. Assuming the remaining conditions are obtained, the facility is expected to close in January. Coltec's current credit facility was entered into in conjunction with its return to public ownership in April 1992.
 Coltec Industries Inc. is a New York-based manufacturing company serving aerospace, automotive and other industrial markets.
 -0- 11/12/93
 /CONTACT: Michael Dunn of Coltec, 212-940-0523/
 (COT)


CO: Coltec Industries Inc ST: New York IN: ARO SU:

GK-TA -- NY070 -- 3809 11/12/93 15:39 EST
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Publication:PR Newswire
Date:Nov 12, 1993
Words:140
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