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American Potash & Chemical Corporation Deal - Lehman Brothers Collection

American Potash & Chemical Corporation

Company Deal3 5/8% convertible subordinate debentures
Transaction TypeConvertible Subordinated Debentures
Deal DescriptionAmerican Potash & Chemical Corporation expected to use the net proceeds from this deal for general corporate purposes. Such purposes included reducing outstanding loans and replenishing working capital used for improvements and additions to the company's plants at Trona and Los Angeles, as well as for investments made in Bikita Minerals (Private), Ltd., and American Lithium Chemicals, Inc. A portion of the proceeds was to be used for planned improvements to plants and equipment and for further investments in Bikita Minerals (Private), Ltd. The debentures became due on March 1, 1970. They were redeemable at the company's option on February 28, 1957, and redeemable through the operation of the sinking fund on March 1, 1961.
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