| Deal Description | Chemical New York Corporation made approximately $85 million of the net proceeds from this sale available to the Chemical Bank as equity, subordinated loans, or a combination thereof. The funds provided to the bank were used to support the bank's lending and other activities. The remainder of the net proceeds was retained by the company for general corporate purposes, including investments in, and extensions of credit to, existing and future banking and non-banking subsidiaries, including the bank. |
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