Printer Friendly

GREEN TREE FINANCIAL CORPORATION ANNOUNCES CREDIT FACILITY WITH LEHMAN BROTHERS; SALE OF NOTES UNDER $250 MILLION SHELF REGISTRATION

GREEN TREE FINANCIAL CORPORATION ANNOUNCES CREDIT FACILITY WITH LEHMAN
 BROTHERS; SALE OF NOTES UNDER $250 MILLION SHELF REGISTRATION
 ST. PAUL, Minn., Oct. 19 /PRNewswire/ -- Green Tree Financial Corporation (NYSE: GNT) today announced that it has executed a $250 million short-term credit facility with Lehman Brothers. The new credit facility is in addition to $360 million in borrowing facilities already in place. The company also announced that it has sold $12 million 7-year notes at a fixed interest rate of 7.55 percent under its $250 million medium-term note, shelf registration.
 "The Lehman agreement increases Green Tree's total credit facility to more than $600 million and will allow cost-effective financing of the company's growing loan production going forward," said John W. Brink, senior vice president, treasurer and chief financial officer. "The medium-term note issuance lengthens the company's debt maturity schedule at a favorable interest rate."
 Green Tree Financial Corporation makes loans to individuals in the 48 contiguous states for manufactured homes, home improvements and motorcycles. Green Tree currently services approximately 334,000 contracts totaling $5.5 billion in outstanding principal balances. Green Tree's common stock is traded on the New York and Pacific Stock Exchanges under the symbol GNT.
 -0- 10/19/92 R
 /CONTACT: John Brink of Green Tree, 612-293-3400; or John Mackay of Padilla Speer Beardsley, 612-871-8877, for Green Tree/
 (GNT) CO: Green Tree Financial Corporation ST: Minnesota IN: FIN SU:


KH -- MN003R -- 1646 10/19/92 13:25 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 19, 1992
Words:241
Previous Article:24 MILLION BUSINESS DAYS LOST PER YEAR; PC DATA LOSSES COST U.S. ECONOMY NEARLY $4 BILLION ANNUALLY, NEW 3M SURVEY INDICATES
Next Article:COLUMBIA FIRST BANK ANNOUNCES RESULTS FOR THE QUARTER AND FISCAL YEAR ENDED SEPT. 30, 1992
Topics:


Related Articles
UNISYS TO OFFER $250 MILLION OF SENIOR NOTES
GREEN TREE FINANCIAL CORPORATION ANNOUNCES CLOSING OF DEBT SECURITIES UNDER COMPANY'S NEW $1 BILLION SHELF REGISTRATION
GREEN TREE FINANCIAL CORPORATION ANNOUNCES INCREASED CREDIT FACILITY
GREEN TREE FINANCIAL COMMON STOCK REGISTRATION STATEMENT FILING
GREEN TREE FINANCIAL CORPORATION ANNOUNCES FILING FOR SALE OF NET INTEREST MARGIN CERTIFICATES
BROWN-FORMAN CORPORATION FILES MEDIUM-TERM NOTE PROGRAM UNDER ITS $250 MILLION SHELF REGISTRATION
Green Tree Financial Announces Closing of New Committed Financing Arrangements
Black Hills Corporation Announces Sale of $250 Million of Ten-Year Notes.
Chesapeake Energy Corporation Announces Offering of $500 Million of Mandatory Convertible Preferred Stock.
Peabody Energy Announces Pricing of $900 Million of 7.375% 10-Year Senior Notes and 7.875% 20-Year Senior Notes.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters