Lehman Brothers Collection - Contemporary Business Archives

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Twentieth-Century Business Archives

Kennecott Copper Corporation Deal - Lehman Brothers Collection

Kennecott Copper Corporation

Company Deal$200,000,000 7 7/8% debentures due 2001
Transaction TypeDebentures
Deal DescriptionKennecott Copper Corporation added the net proceeds from this transaction to its general funds, which were to be available for capital expenditures and other corporate purposes. It was anticipated that a portion of the proceeds would be applied initially toward the repayment of short-term indebtedness to U.S. banks. Anticipated capital expenditures included the development and improvement of new and existing coal properties, various capital requirements associated with existing copper and other mineral operations, and capitalized mining costs in connection with the Peabody coal- production payment.
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