Bethlehem Steel Corp. Deal - Lehman Brothers Collection
Bethlehem Steel Corp.
|Company Deal||1949 financing $50,000,000 consolidated mortgage 30-year sinking fund 3% bonds, series K due November 15, 1976|
|Transaction Type||Consolidated Mortgage 30 year Sinking Fund Bonds|
|Deal Description||Bethlehem Steel Corporation used the net proceeds from this transaction to provide funds for the estimated cost of completing or making additions and improvements to properties of the corporation and its subsidiaries consolidated. Such additions and improvements are as follows: ore-sintering equipment, a battery of coke ovens and coal handling and coke oven gas distributing equipment, coal chemical refining equipment, an ore bridge, additional cold-forming facilities, an electric furnace, improvements to rolling mills, improvements to the railroad car building shop, additional facilities for the production of bolts and nuts, improvements to the power and water supply systems, miscellaneous improvements and additional machinery and equipment, opening and developing another coal mine, additional mechanical mining and coal-cleaning equipment, completing the development of the iron ore properties in Venezuela, a floating drydock at the Beaumont Yard, and miscellaneous additional machinery and equipment at several other shipyards.|
© 2012 President and Fellows of Harvard College