STONE CONTAINER <STO> FORMS CREDIT FACILITY
Stone Container Corp said it signed a
definitive agreement with a group of banks establishing a total
of 1.1 billion dlrs term loan and revolving credit facility.
    It said the action represents the last step toward
completing the previously announced acquisition of Southwest
Forest Industries Inc <SWF>.
    Stone said the completed portion of the new credit facility
consists of an 800 mln dlr term loan and a 200 mln dlr
revolving credit.
    Stone said the final portion of the 1.1 billion dlr credit
facility will be a 100 mln dlr letter of credit, which will
replace an existing letter of credit relating to the operating
lease of its co-generation energy facility nearing completion
at its linerboard and kraft paper mill in Florence, S.C.
 Reuter
