BANKING & FINANCE - June 4, 1993
From Times Staff and Wire Reports
Glenfed Sees Seizure Date Extended: The Glendale-based thrift, which faces a federal takeover June 30 unless it raises its capital by about $400 million, said it believes that the deadline will be extended because it reached tentative agreement to restructure more of its debt and preferred-stock obligations. Glenfed, with $17.9 billion in assets, completed a separate restructuring of $137.3 million of its debt in March. Terms of the latest proposal are being withheld until Glenfed files the plan with regulators.
