Holiday Inns, Inc. Deal - Lehman Brothers Collection
Holiday Inns, Inc.
|Company Deal||$30,000,000 9 1/2% first mortgage bonds due December 15, 1995, with warrants to purchase 330,000 shares of common stock, 600,000 shares of common stock|
|Transaction Type||First Mortgage Bonds / Common Stock|
|Deal Description||Holiday Inns, Inc., deposited the net proceeds from this transaction with the trustee under the mortgage. The funds were expended for the construction, acquisition, and improvement of the inns. A portion of the proceeds was used to reduce short-term indebtedness to banks and, upon maturity, commercial paper, which was issued for working capital purposes (including interim construction financing).|
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