Chase Manhattan Corp. Deal - Lehman Brothers Collection
Chase Manhattan Corp.
|Company Deal||Chase Manhattan Corporation: $200,000,000 floating rate notes due 1999|
|Transaction Type||Floating Rate Notes|
|Deal Description||The Chase Manhattan Corporation applied a portion of the net proceeds from this transaction to the repayment at maturity of commercial paper. Of the corporation's outstanding commercial paper, approximately $110,000,000 was issued to fund the short-term financing activities of the corporations non-banking subsidiaries, including Dovenmuehle, Inc., and Housing Investment Corporation of Florida, which have used the proceeds to fund transactions in their mortgage banking businesses. The balance of the proceeds was invested in short-term liquid assets pending application to other corporate purposes, including further funding of short-term financing activities of the corporation's non-banking subsidiaries.|
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