Gulf States Utilities Company
| Company Deal | 350,000 shares $7.56 dividend preferred stock |
|---|---|
| Transaction Type | Dividend Preferred Stock |
| Deal Description | Gulf States Utilities Company used the net proceeds from this transaction to pay off a portion of its then outstanding short-term notes. The funds obtained from the issuance of such notes were used in connection with the company's construction program and for other corporate purposes. To meet anticipated growth in system load, the company had scheduled in the five-year period from 1972 through 1976, the installation of three 580,000 kilowatt units and one 480,000 kilowatt unit. |