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OWENS-CORNING COMPLETES $375M CREDIT FACILITY

 TOLEDO, Ohio, Nov. 2 /PRNewswire/ -- Owens-Corning (NYSE: OCF) announced today that it has completed a $375 million credit facility, replacing its current bank facility due to expire in July 1994.
 The syndicated credit facility is comprised of 15 participant banks with Credit Suisse serving as the agent/arranger of the facility. Co- agents include The Bank of New York, The Bank of Nova Scotia, Barclays Bank, Royal Bank of Canada and Chemical Bank. The credit agreement is for a four year term and is effective immediately.
 "The new credit facility will lower the company's cost of financing and provide greater flexibility as the company pursues its growth agenda," said Owens-Corning chairman and CEO Glen Hiner.
 -0- 11/2/93
 /CONTACT: Elizabeth Sudheimer of Owens-Corning, 419-248-6190/
 (OCF)


CO: Owens-Corning ST: Ohio IN: CST SU:

AR -- CL021 -- 9767 11/02/93 15:43 EST
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Publication:PR Newswire
Date:Nov 2, 1993
Words:142
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