Crown Zellerbach Corp. Deal - Lehman Brothers Collection
Crown Zellerbach Corp.
|Company Deal||Crown Zellerbach Corporation: $75,000,000 9 1/4% sinking fund debentures due March 15, 2005|
|Transaction Type||Sinking Fund Debentures|
|Deal Description||Crown Zellerbach Corporation used a portion of the net proceeds from this transaction to reduce outstanding short-term debt. The balance was added to the company's general funds, to be used for working capital and other corporate purposes, including improvement of existing facilities, purchases of additional equipment, and acquisition of additional timberlands. A portion of the company's outstanding short-term debt was incurred to purchase certain assts from S. T. Corporation. The assets included inventories, merchantable timber, timberlands, machinery, and equipment.|
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