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TULTEX OBTAINS $95 MILLION IN PRIVATE PLACEMENT OF DEBT

 TULTEX OBTAINS $95 MILLION IN PRIVATE PLACEMENT OF DEBT
 MARTINSVILLE, Va., June 26 /PRNewswire/ -- Tultex Corporation


(NYSE: TTX), one of the nation's largest producers and marketers of activewear apparel, announced today that it had obtained new long-term financing of $95 million through the issuance of seven-year senior unsecured notes. J.P. Morgan Securities Inc. served as the financial advisor to the company.
 The notes carry a fixed rate of 8.875 percent with a final maturity on June 1, 1999. Payments will consist of interest only for the first two years and installment payments of principal and interest for the remaining five years.
 Tultex stated that the financing will be applied against an interim loan of $45 million used to acquire Logo 7, an Indianapolis-based screenprinter, embroiderer and professional sports licensee, and to pay $25 million of a $50 million term loan obtained in 1989 and refinance other indebtedness.
 "Obtaining this financing is another part of our long-term growth strategy," said Charles W. Davies Jr., Tultex president. "It allows us to take advantage of the lower interest rates available at this time, and aligns our financial resources with our business requirements. This will make us more competitive in the marketplace and allow us to further improve service to our customers."
 Tultex, a vertically integrated manufacturer and marketer of activewear and licensed sports apparel, sells many of its products under the Tultex, Discus Athletic and Logo 7 brand names. The company operates manufacturing plants in Virginia, North Carolina, Indiana and Jamaica.
 -0- 6/26/92
 /CONTACT: Jeff Boruvka, controller of Tultex, 703-632-2961, ext. 2288/
 (TTX) CO: Tultex Corporation ST: Virginia IN: TEX SU:


CK-OS -- NY030 -- 4192 06/26/92 11:47 EDT
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Publication:PR Newswire
Date:Jun 26, 1992
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