| Company Deal | $25,000,000 5 3/8% secured bonds (thirteenth series), $10,000,000 serial secured notes (fourteenth series) |
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| Transaction Type | Secured Bonds / Secured Notes |
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| Deal Description | The European Coal and Steel Community used the proceeds from this transaction to make loans to coal and steel enterprises. It was expected that such proceeds would be used principally to finance a part of the cost of projects designed to increase the use by steel enterprises of coal and coke, to increase the production of iron ore within the member countries, and to enlarge and improve existing installations in the steel industry. It was also expected that some portion of the proceeds may have been used to make loans to concerns outside the coal and steel industries in order to finance, in part, the construction of new manufacturing facilities and other projects in the community, which were so located as to provide productive employment for coal miners released from the mines as a result of prevailing conditions in the coal industry. |
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