Quebec Natural Gas Corporation
List of Deals
- 1957 1957 financing
The Quebec-Natural Gas Corporation was organized in 1957 to acquire the gas distribution facilities in Montreal, Quebec, owned by the government-owned Quebec Hydro-Electric Commission.
Quebec-Natural sold $48 million worth of securities in both the United States and Canada in April 1957. The securities consisted of $12.5 million of 6 percent first mortgage bonds, due 1980 (Canadian); $7.5 million of 5 ½ percent first mortgage bonds, due 1980 ( United States); $20 million of 5 ¾ percent subordinated debentures, due 1985 (Canadian); and 800,000 shares of common stock. The underwriters included Lehman Brothers and Allen & Company.