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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 18, 1998
GREEN TREE FINANCIAL CORPORATION
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Delaware 01-08916 41-1807858
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(State or other jurisdiction (Commission (IRS employer
of incorporation) file number) identification No.)
1100 Landmark Towers, 345 St. Peter Street, Saint Paul, Minnesota 55102-1639
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(Address of principal executive offices)
Registrant's telephone number, including area code: (612) 293-3400
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Not Applicable
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(Former name or former address, if changed since last report)
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Item 1. Changes in Control of Registrant.
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Not applicable.
Item 2. Acquisition or Disposition of Assets.
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Not applicable.
Item 3. Bankruptcy or Receivership.
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Not applicable.
Item 4. Changes in Registrant's Certifying Accountant.
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Not applicable.
Item 5. Other Events.
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Attached and incorporated herein by reference as Exhibit 99.1 is a
press release dated February 18, 1998 of registrant, Green Tree
Financial Corporation announcing the closing of new committed
financing arrangements.
Item 6. Resignations of Registrant's Directors.
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Not applicable.
Item 7. Financial Statements and Exhibits.
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(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
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(c) Exhibits.
The following is filed herewith. The exhibit numbers correspond
with Item 601(b) of Regulation S-K.
Exhibit No. Description
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99.1 Press Release dated February 18, 1998, wherein
Green Tree Financial Corporation announces
closing of new committed financing arrangements.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
GREEN TREE FINANCIAL CORPORATION
By: /s/ Joel H. Gottesman
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Joel H. Gottesman
Sr. Vice President, General Counsel
and Secretary
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INDEX TO EXHIBITS
Exhibit Number Page
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99.1 Press Release dated February 18, 1998 wherein Green Tree
Financial Corporation announces closing of new committed
financing arrangements.
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[GREEN TREE LETTERHEAD]
NEWS RELEASE
FOR IMMEDIATE RELEASE CONTACT: John A. Dolphin
Vice President
(612) 293-3400
GREEN TREE FINANCIAL ANNOUNCES CLOSING OF NEW
COMMITTED FINANCING ARRANGEMENTS
SAINT PAUL, MINN., February 18, 1998 -- Green Tree Financial Corporation
(NYSE: GNT) today announced that it has fully executed new agreements that have
restructured its committed financing arrangements. The company announced that it
has closed on a $500 million, two-year committed facility with an affiliate of
Lehman Brothers Holdings, Inc. The new secured facility will be used for general
corporate purposes, including the financing of existing and future residual
interests created from Green Tree's broadly diversified securitization programs.
The company also said that it has executed certain amendments and waivers
to its two unsecured revolving lines of credit with banks. The committed
facilities, a $750 million three-year facility and a $750 million 364-day
facility, have each been reduced to $375 million and now total $750 million,
reflecting Green Tree's substantial curtailment of its commercial paper issuance
and the fact that these credit facilities had been used primarily to support a
larger commercial paper program. The company continues to finance its overall
loan inventory position through a number of arrangements in addition to these
committed facilities, including $3.3 billion in master repurchase agreements
with a variety of investment banking firms, two third-party financing conduits,
and through general corporate resources.
Green Tree Financial Corporation is a leading diversified financial
services company with nationwide operations serving customers in the consumer
finance, commercial finance and insurance markets. With managed finance
receivables of $28 billion, Green Tree is one of the largest multi-line finance
companies in the United States. Founded in 1975, Green Tree has 5,700 employees
at 200 company locations that work with over 20,000 retail dealers across the
country as well as directly with consumers.
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