OVERLAND EXPRESS <OVER> NEGOTIATES NEW DEBT
Overland Express Inc said it
negotiated a restated debt moratorium agreement with its
principal secured lender banks.
    The company said the new agreement extends a prior debt
moratorium on principal and interest payments on approximately
30 mln dlrs of long-term debt to June one, 1987.
    It is subject to repayment of the debt on or before that
date at a discount of approximately 8,600,000 dlrs in principal
and cancellation of approximately 1,800,000 dlrs of current and
deferred interest, the company said.
    Overland also said it negotiated a 3,000,000 dlr interim
credit agreement with its majority owner, <Continental Training
Services Inc>.

 Reuter
