Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

Eastern Air Lines Incorporated Deal - Lehman Brothers Collection

Eastern Air Lines Incorporated

Company DealEastern Air Lines, Inc.: underwritten registered secondary debenture offering $8,495,000 principal amount 5 3/8% convertible junior subordinated debentures due December 1, 1988
Transaction TypeConvertible Junior Subordinated Debentures
Deal DescriptionEastern Air Lines Incorporated received none of the proceeds from this transaction. In November 1963, the company issued and sold $22,000,000 prinicpal amount of 5 3/8% convertible junior subordinated notes due December 1, 1983. In accordance with the terms of such notes, the entire outstanding principal amount thereof was exchanged as of June 1, 1965 for $22,000,000 principal amount of the company's 5 3/8% convertible junior subordinated debentures due December 1, 1983. The $12,000,000 principal amount of debentures offered hereby was being sold by certain selling debenture holders. The group of selling debenture holders consisted of American General Life Insurance Company of Delaware; Broad Street Investing Corporation; Connecticut General Life Insurance Company; Investors Diversified Services, Inc.; Investors Variable Payment Fund, Inc.; American Electric Power System Retirement Trust; Irving Trust Company as trustee of various pension or profit-sharing trusts; National Aviation Corporation; Security Trust Company of Rochester as trustee of various pension funds and as agent for four principals; Sid W. Richardson Foundation; Tri-Continental Corporation; Tri-Continental Financial Corporation; and Wisconsin Alumni Research Foundation.
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