International Telephone and Telegraph Corporation
| Company Deal | $100,000,000 8.90% sinking fund debentures due October 1, 1995; $50,000,000 8.30% notes due October 1, 1975 |
|---|---|
| Transaction Type | Sinking Fund Debentures / Notes |
| Deal Description | International Telephone and Telegraph Corporation used a portion of the net proceeds from this transaction for the reduction of bank borrowings. The balance was used primarily for plant construction and expansion of facilities. Such bank borrowings were incurred principally for the purpose of providing increased working capital and for financing a portion of ITT's capital expenditures. |