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SUNBEAM-OSTER REFINANCES BANK FACILITIES

 SUNBEAM-OSTER REFINANCES BANK FACILITIES
 PROVIDENCE, R.I., April 1 /PRNewswire/ -- Sunbeam-Oster announced


today that it has refinanced its bank debt with five year term and revolving facilities totalling $275 million. Sunbeam-Oster's new term loan of $125 million will be used to replace existing financing while a $150 million revolving facility is made available to the company for general corporate purposes.
 Both facilities are currently priced at Libor plus 0.5 percent and contain provisions for the reduction of this rate.
 Earlier this year Sunbeam-Oster received an investment grade rating of BBB- from Standard & Poor's.
 Sunbeam-Oster's bank group is led by Chase Manhattan as agent, and Midland Montagu and Bank of Boston as co-agents. The other banks participating in the syndicate are Continental Bank, Fleet Bank, Security Pacific, NationsBank, Toronto Dominion, Long Term Credit Bank of Japan, Credit Lyonnais, Pittsburgh National Bank and Yasuda Trust.
 Robert H. Setrakian, a Sunbeam-Oster vice president, said that "the company is gratified its strong operating performance and financial condition permitted the refinancing on such attractive terms with this premier quality bank group." Setrakian noted that the facilities were significatnly oversubscribed in syndication and that virtually every bank approached by Chase and the company was interested in participating in the syndicate.
 Sunbeam-Oster is a leading international consumer products company that develops, manufactures, and markets a diversified portfolio of products with long-standing reputations for quality. The Sunbeam and Oster brand names have been household words for generations, and the company is a market share leader in many of its product categories.
 -0- 4/1/92 R
 /CONTACT: Michael G. Lederman of Sunbeam-Oster, 401-831-0050/ CO: Sunbeam-Oster Company, Inc. ST: Rhode Island IN: HOU SU:


EG -- NE011 -- 3888 04/01/92 13:02 EST
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Publication:PR Newswire
Date:Apr 1, 1992
Words:285
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