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FOOTHILL GROUP SUBSIDIARY COMPLETES ANNUAL RENEWAL OF BANK CREDIT FACILITY AND INCREASES AMOUNT TO $235 MILLION

 LOS ANGELES, July 1 /PRNewswire/ -- The Foothill Group Inc. (NYSE: FGI) announced today that Foothill Capital Corp., its largest subsidiary, has completed its annual renewal and extension, to June 30, 1995, of its major bank credit facility with a group of 15 banks. The revolving credit facility, used primarily to support Foothill Capital's outstanding commercial paper, closed with $235 million in total commitments. Bank of America NT&SA and National Westminster Bank USA serve as co-agents on this senior credit facility.
 David C. Hilton, executive vice president and chief financial officer of Foothill Capital, stated, "Foothill Capital is pleased to announce the renewal of our bank facility. We received commitments for this facility in excess of our desired amount. This indicates continued strong support from the banking community for our business strategy."
 The Foothill Group Inc. is a financial services company engaged in the commercial finance and asset management businesses. At March 31, 1993, it had total assets owned or under management of more than $1.2 billion. Foothill Capital Corp., its largest subsidiary, provides asset-based financing secured by accounts receivable, inventory, equipment and other assets to businesses nationwide. Foothill Thrift and Loan specializes in providing commercial real estate financing or California-based businesses and entrepreneurs. The Capital Markets Division (parent company) manages institutional limited partnerships which invest in the debt of companies which are in reorganization or in the process of restructuring.
 -0- 7/1/93
 /CONTACT: Henry K. Jordan, VP & CFO of The Foothill Group, 310-996-7000/
 (FGI)


CO: The Foothill Group Inc.; Foothill Capital Corp. ST: California IN: FIN SU: FNC

JL-LS -- LA005 -- 7537 07/01/93 08:46 EDT
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Publication:PR Newswire
Date:Jul 1, 1993
Words:271
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