Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

Crocker National Corporation Deal - Lehman Brothers Collection

Crocker National Corporation

Company Dealfloating rate notes
Transaction TypeFloating Rate Notes
Deal DescriptionCrocker National Corporation expected to use the net proceeds from this transaction to repay at maturity most of the short-term bank borrowings issued by the company's mortgage banking subsidiary and the remainder was to be used to repay at maturity a portion of the outstanding commercial paper issued by the company. All of the proceeds of the commercial paper were used to fund transactions of the company's mortgage banking and leasing subsidiaries. As of June 30, 1974, the company's mortgage banking subsidiary had short-term bank borrowing in the aggregate amount of approximately $13.6 million.
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