FLORENS CONTAINER/COSCO PACIFIC BORROW $75 MILLION

FLORENS CONTAINER/COSCO PACIFIC BORROW $75 MILLION

   Florens Container Corp. S.A., the container leasing arm
of the COSCO group, has signed a $75 million transferable loan facility agreement with a
syndicate of nine banks.
    The loan facility is guaranteed by COSCO Pacific, the parent company of
Florens Container Corp.
    The proceeds from the loan will be used for the purchase of new
containers and for refinancing purposes, the company said.