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Non-Tech : Loewen Group

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To: thomas todd bishop who wrote ()	5/25/1999 9:51:00 AM
From: MF	Read Replies (1) of 277

Loewen Group Inc (The) LWN Shares issued 74,056,090 May 21 close $1.28 Tue 25 May 99 In the News The Globe and Mail reports in its Saturday, May 22, edition that Loewen Group chairman John Lacey held a meeting with some of the company's big United States debt holders last week in New York, raising further speculation that the struggling funeral home and cemetery operator could seek bankruptcy protection soon. A Dow Jones Service dispatch to The Globe reports that the meeting followed the release earlier this month of Loewen's first-quarter financial results, when the company hinted that it may be forced into bankruptcy protection. Loewen has about $2.3-billion of debt and is scheduled to meet a payment of $300-million of notes Sept. 15. The meeting in New York, plus the company's cautious outlook in its first-quarter not to hold a conference call with investors to discuss the results, has many bondholders believing that filing for bankruptcy protection is imminent. Some unnamed debt holders speculate that the filing could come in June, when Loewen is required to meet interest payments of around $19-million.

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