Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

Levin-Townsend Computer Corporation Deal - Lehman Brothers Collection

Levin-Townsend Computer Corporation

Company Dealpublic offering of $25,000,000 of 5 1/4% convertible senior subordinated debentures due September 15, 1987
Transaction TypeConvertible Senior Subordinated Debentures
Deal DescriptionLevin-Townsend Computer Corporation used the net proceeds from this transaction for the acquisition of IBM System/360 computer systems and other equipment that was to be leased to others. In addition, the company may have used some of the proceeds for working capital and for investment in other business opportunities that may have arisen. The deal also provided the company with an expanded capital base for substantial further senior financing in connection with the acquisition of additional computers for rental.
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