General American Transportation Corporation
| Company Deal | issuance of $60,000,000 equipment trust certificates |
|---|---|
| Transaction Type | Equipment Trust Certificates |
| Deal Description | General American Transportation Corporation used the net proceeds from this transaction to retire short-term debt, which was incurred principally to finance the cost of the cars subject to the agreement under which the certificates were issued. The balance of such short-term debt was incurred to finance other capital expenditures, such as the expansion of terminal facilities. The company contemplated the expenditure of approximately $70 million over the following twelve months for additions to its fleet of specialized railroad freight cars. Funds required for such expenditures were provided from the company's treasury. |