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Biotech / Medical : GFIH Graham-Field Health Prod

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To: leigh aulper who wrote (78)10/7/1999 8:20:00 AM
From: leigh aulper  Read Replies (1) of 84
 
Graham-Field Health Products, Inc.

BAYSHORE, N.Y., Oct. 7 /PRNewswire/ -- Graham-Field Health Products, Inc. (OTC Bulletin Board: GFIH), a manufacturer and supplier of healthcare products, announced that BankBoston, N.A. will not proceed with the previously-announced $50 million refinancing. The new facility was to refinance the Company's current indebtedness under its credit facility with IBJ Whitehall Business Credit Corp., as agent, and provide for the ongoing working capital needs of the Company. The Company is pursuing alternative sources of financing and the sale of certain non-core assets, and is considering other alternatives, including a restructuring or a reorganization.
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