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GREEN TREE FINANCIAL CORPORATION ANNOUNCES INCREASED CREDIT FACILITY; TOTAL CREDIT FACILITIES NOW EXCEED $1 BILLION

 ST. PAUL, Minn., May 10 /PRNewswire/ -- Green Tree Financial Corporation (NYSE: GNT) today announced that it has increased the size of its borrowing agreement with Merrill Lynch to $400 million from $200 million, and extended the agreement to June 30, 1994. The borrowing facility was increased to accommodate Green Tree's growing loan production.
 The $200 million increase raises Green Tree's total credit facilities to more than $1 billion from the prior level of $810 million. These funds are used to finance the company's loan production before the loans are pooled and asset backed securities are sold in the public and private markets.
 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 350,000 contracts totaling $5.8 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- 5/10/93
 /CONTACT: John Mackay of Padilla Speer Beardsley, 612-871-8877 or 212-752-8338, for Green Tree Financial; or John W. Brink of Green Tree Financial, 612-293-3400/
 (GNT)


CO: Green Tree Financial Corporation ST: Minnesota IN: FIN SU: FNC

AL -- MN008 -- 6587 05/10/93 15:06 EDT
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Publication:PR Newswire
Date:May 10, 1993
Words:204
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