| 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 |
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| Transaction Type | First Mortgage Bonds / Common Stock |
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| 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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