| Deal Description | American Stern Trawlers, with its majority stockholder American Export Industries, Inc., entered into a note purchase agreement with the following corporations: Connecticut General Life Insurance Company, Marine Midland Grace Trust Company of New York, and Home Life Insurance Company. An aggregate sum of $4.2 million worth of American Stern Trawlers secured notes were purchased. The proceeds from this deal were to finance the company's acquisition of two new factory freezer stern trawlers: the Seafreeze Atlantic and the Seafreeze Pacific. Two series of notes became due, respectively, on December 1, 1973 and on December 1, 1983. |
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