Lehman Brothers Collection - Contemporary Business Archives

Harvard Business School Baker Library Historical Collections

Lehman Brothers Collection

Twentieth-Century Business Archives

International Minerals & Chemical Corporation Deal - Lehman Brothers Collection

International Minerals & Chemical Corporation

Company Deal$100,000,000 9.35% sinking fund debentures due November 1, 2000
Transaction TypeSinking Fund Debentures
Deal DescriptionInternational Minerals & Chemical Corporation used the net proceeds from this transaction for general corporate purposes, including capital expenditures and working capital requirements. Anticipated capital expenditures included construction of a new ammonia plant and other new plants and equipment, acquisition and development of mineral and natural gas properties, and expansion and renovation of existing facilities. Additional uses for the proceeds included acquisitions of companies and properties. At the time of the deal, the company had no specific plans for such uses and was then not engaged in any negotiations for such purposes. Initially, the proceeds may have been invested in short-term obligations and other temporary cash investments, or used to retire short-term debts.
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