Diamond Shamrock Corporation
| Company Deal | public offering $75,000,000 9% sinking fund debentures due 1999 |
|---|---|
| Transaction Type | Sinking Fund Debentures |
| Deal Description | Diamond Shamrock Corporation used a portion of the proceeds from this transaction to retire its short-term notes payable. The balance of the proceeds was added to the general funds of the corporation and was utilized primarily for capital expenditures. Major projects under construction at that time included a new polyvinyl chloride resin plant and a 1200 tons per day chlorine/caustic soda plant. In addition, substantial expenditures were being incurred for oil and gas lease acquisitions and renewals and continued oil and gas development, particularly in domestic offshore locations. |