Chemical New York Corp.
| Company Deal | Chemical New York Corporation: $75,000,000 principal amount 6 5/8% notes due 1980 |
|---|---|
| Transaction Type | Notes |
| Deal Description | Chemical New York Corporation made a major portion of the net proceeds from this transaction available to the Chemical Bank by way of subordinated loans or capital contributions or a combination thereof for use in the operation of its banking business as required. The funds so obtained by the bank were used in connection with the bank's lending and other activities. The remainder of such net proceeds was retained by the company for investments in or extensions of credit to (or a combination thereof) other existing and future banking and non-banking subsidiaries. |