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Bergen Curtails Forward Buying Until April; Stadtlander To Restructure

Executive Summary

Bergen Brunswig will curtail its forward buying of inventory until it completes refinancing of its $600 mil. revolving credit facility "in the next six to eight weeks," company CEO Robert Martini said during a conference call Jan. 26.

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Chase Manhattan will underwrite $1.5 bil. in a senior, secured credit facility to be finalized in April, Bergen said. The new facility will ease the pressure on Bergen's forward-buying activities. Bergen had announced Jan. 26 that it would not participate in forward buying at normal levels until refinancing of its $600 mil. revolving credit facility due in April was completed (1"The Pink Sheet" Jan. 31, 2000, p. 27)

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