Lehman Brothers Collection - Contemporary Business Archives

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Twentieth-Century Business Archives

Inland Steel Company Deal - Lehman Brothers Collection

Inland Steel Company

Company Deal$50,000,000 principal amount first mortgage 3 1/2% bonds, series J, due July 1, 1981
Transaction TypeFirst Mortgage Bonds
Deal DescriptionInland Steel Company added the net proceeds from this transaction to its general funds, to be used in connection with the financing of its expansion program. The program's goal was an increase in the annual steel-making capacity at the company's Indiana Harbor plant from 5,200,000 net tons to approximately 6,000,000 net tons of ingots by the end of 1958. This program involved a number of projects for the company and its subsidiaries, including construction of three new 315-ton open hearth furnaces; construction of a new slabbing mill and related facilities; construction of a new cold-rolled mill and related facilities, having approximately 425,000 net tons of annual capacity; construction of a general office building in downtown Chicago; and development of mining properties and improvements to, and replacement of, plants and facilities.
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