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Non-Tech : Oakwood Homes Corporation (NYSE:OH) -- Ignore unavailable to you. Want to Upgrade?

To: Gutterball who wrote (2)	11/8/1999 11:43:00 AM
From: Gutterball	Read Replies (1) \| Respond to of 4

More on that credit facility... thedepot.com "The financially ailing manufactured housing company reached agreement with its banking group for a yearlong $125 million line of credit... The credit line will be secured primarily by the company's retail housing inventory." "The extension was for $50 million less than the Greensboro-based company had been seeking, but the agreement was in line with analyst and investor expectations" "Oakwood said it also expects to reach a new arrangement with an unnamed financial institution for money to help it finance interest on asset back securities. Oakwood creates these securities by packaging together groups of mortgage loans made on its manufactured homes. The company then tries to sell these securities on the open market."