refinancing arrangements

Several of the refinancing arrangements the state is planning, however, are intended simply to reduce the requirements for cash reserves.

The measure provides for United States Government guarantees of private refinancing arrangements by Israel.

Bond resigned as chairman and director of Bond Corporation on Sept. 26, 1990, a move which was expected to pave the way for agreements on key refinancing arrangements.

Mr. Bond's departure from Bond Corporation Holdings Ltd., which is more than $6 billion in debt, could lead to important refinancing arrangements, said Peter Lucas, a company director.

"The key here is to be able to be flexible with our customers," said Malcolm D. Griggs, the director of corporate risk policy for Wachovia, stressing that the policies are much more appropriate for refinancing arrangements than for acquisitions.