Interstate Department Stores, Inc.
| Company Deal | $5,859,400 4 5/8% conv. sub. deb. due 1981 convertible into common stock |
|---|---|
| Transaction Type | Convertible Subordinated Debentures |
| Deal Description | Interstate Department Stores, Inc., used the net proceeds from this transaction in connection with the expansion of its business. A portion of the proceeds was used to repay the short-term bank loans of the company, incurred primarily in connection with the opening of additional discount department stores. An additional portion of the proceeds was used in connection with the opening of such stores. Another portion was expended for the enlargement and modernization of its general department stores. The balance of the funds was added to working capital and was used for general corporate purposes. |