Chase Manhattan Corp. Deal - Lehman Brothers Collection
Chase Manhattan Corp.
|Company Deal||Chase Manhattan Corporation: $200,000,000 6 1/2% convertible subordinated debentures due 1996|
|Transaction Type||Convertible Subordinated Debentures|
|Deal Description||The Chase Manhattan Corporation made the net proceeds from this transaction available to the Chase Manhattan Bank through the purchase by the corporation of shares of capital stock of the bank. In view of the growth in total assets and deposits of the bank in recent (to the time of the deal) years, and the anticipated future demand for funds, the corporation and the bank believed it desirable to further strengthen the capital base of the bank. The funds received by the bank from the corporation were added to the general funds of the bank for use in its normal business activities.|
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