Chemical New York Corp.
| Company Deal | Chemical New York Corporation: $50,000,000 principal amount 5 1/2% convertible subordinated debentures due 1996 |
|---|---|
| Transaction Type | Convertible Subordinated Debentures |
| Deal Description | The net proceeds of Chemical New York Corporation from this transaction were made available to the Chemical Bank either by way of a subordinated loan or capital contribution or a combination thereof for use in the operation of its banking business. The funds so obtained by the bank were used in connection with the bank's lending and other activities. |