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GAYLORD COMPLETES $70 MILLION FACILITY

 DEERFIELD, Ill., Sept. 28 /PRNewswire/ -- Gaylord Container Corporation (AMEX: GCR) announced today that its wholly owned subsidiary, Gaylord Receivables Corporation, has completed a $70 million trade receivables-backed revolving credit facility. The company noted that the five-year facility will enhance its financial flexibility and liquidity. The facility's borrowing base formula provides approximately $50 million of current availability.
 The company said that Harris Trust & Savings Bank is the facility agent bank, and BT Securities Corporation acted as financial advisor in connection with structuring and arranging the facility.
 Gaylord Container Corporation is a major national manufacturer and distributor of corrugated containers, containerboard, unbleached kraft paper, multiwall bags and grocery bags and sacks.
 -0- 9/28/93
 /CONTACT: Kathryn Chieger of Gaylord Container Corporation, 708-405-5645/
 (GCR)


CO: Gaylord Container Corporation; Gaylord Receivables Corporation ST: Illinois IN: PAP SU:

TS-TW -- NY057 -- 6422 09/28/93 13:58 EDT
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Publication:PR Newswire
Date:Sep 28, 1993
Words:143
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