ITT Rayonier Incorporated
| Company Deal | $50,000,000 principal amount of 8% debentures due November 15, 1996 |
|---|---|
| Transaction Type | Debentures |
| Deal Description | ITT Rayonier Incorporated used the net proceeds from this transaction in part to pay amounts due to banks incurred to finance the construction of an additional wood pulp manufacturing unit at the company's mill in Jesup, Georgia, construction of which commenced in early 1971. The balance of the proceeds was applied toward the construction of such unit, and pending such application was invested in short-term obligations. |