CANADA DEVELOPMENT UNIT <CDC.TO> REFINANCES
Canada Development Corp said its
<Polysar Ltd> unit completed a refinancing package worth about
830 mln Canadian dlrs.
    The company said the financing, which involves 24 banks 
and four syndicated loans, consists of a 380 mln Canadian dlr
revolver, a 200 mln Canadian dlr European medium term loan, a
149 mln Canadian dlr revolver and a 100 mln Canadian dlr
operating loan.
    The company said the refinancing will reduce borrowing
costs, in addition to having other benefits.
 Reuter
