Industrial Rayon Corporation
| Company Deal | preferred stock financing |
|---|---|
| Transaction Type | Preferred Stock |
| Deal Description | Industrial Rayon Corporation applied the net proceeds from this transaction to the retirement of its promissory notes to banks. Such notes were issued to retire notes of the company and to finance in part an expansion program. The retirement of the promissory notes discaharged all of the company's outstanding long-term debt at that time. |