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GREEN TREE ACCEPTANCE, INC. ANNOUNCES CHANGES AND EXTENSION OF EXCHANGE OFFER

 GREEN TREE ACCEPTANCE, INC. ANNOUNCES CHANGES
 AND EXTENSION OF EXCHANGE OFFER
 ST. PAUL, Minn., March 16 /PRNewswire/ -- Green Tree Acceptance, Inc. (NYSE: GNT) announced today that it has extended the date on which its outstanding exchange offer expires to March 31, 1992. Tenders of each $1,000 principal amount of the 8-1/4 percent Senior Subordinated Debentures due June 1, 1995, must be received by First Wisconsin Trust Company, the Exchange Agent, by 5 p.m., New York City time, on such extended expiration date.
 In addition, the company announced that it has changed the coupon rate, maturity and redemption feature on the notes to be exchanged for such Senior Subordinated Debentures. Under the terms of the revised exchange offer, the company intends to offer to exchange $1,000 principal amount of 9-1/2 percent Senior Subordinated Notes due June 1, 2002, for each $1,000 principal amount of the 8-1/4 percent Senior Subordinated Debentures due June 1, 1995. The Senior Subordinated Notes will not be redeemable by the company prior to maturity. Pursuant to the exchange offer, the company will accept any and all Senior Subordinated Debentures tendered.
 As of March 13, 1992, approximately $40,813,000 of the 8-1/4 percent Debentures had been tendered to the Exchange Agent.
 -0- 3/16/92
 /CONTACT: John W. Brink of Green Tree Acceptance, 612-293-3400; John Mackay of Padilla Speer Beardsley, 612-871-8877; or D.F. King & Co., (Information Agent), 800-669-5550 or 212-269-5550/
 (GNT) CO: Green Tree Acceptance, Inc. ST: Minnesota IN: FIN SU: OFR


DS -- MN002 -- 8155 03/16/92 09:11 EST
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Publication:PR Newswire
Date:Mar 16, 1992
Words:263
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