| Deal Description | Diamond Shamrock Corporation used a portion of the proceeds from this transaction to retire certain of its bank borrowings, which were incurred over the previous four years to finance capital expenditures, including an oil and gas development program, vessel purchases and construction, the purchase of a polypropylene plant, and the construction of other manufacturing facilities. The balance of the proceeds was added to the company's general funds to be available for the reduction of borrowings, increased working capital required by the company's expanded operations, capital expenditures, and other corporate purposes. |
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