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 $20,000,000 of 7 1/2% sinking fund debentures with warrants attached due January 15, 1979
Transaction TypeSinking Fund Debentures / Warrants
Deal DescriptionLevin-Townsend Computer Corporation used a portion of the net proceeds from this transaction for the acquisition of IBM System/360 computer systems and other equipment for lease to others. Another portion of the proceeds was used to finance the construction and leasing of a pipeline and related facilities. An additional portion of the proceeds was used to repay a loan from First National City Bank, which was incurred primarily for the acquisition of IBM System/360 computer systems. The company may have used any remaining proceeds for working capital and for investment in other business opportunities.
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