Michigan Consolidated Gas Company
| Company Deal | $30,000,000 first mortgage bonds, 5 7/8% series due 1991 |
|---|---|
| Transaction Type | First Mortgage Bonds |
| Deal Description | Michigan Consolidated Gas Company used the net proceeds from this transaction to retire bank loans. Such loans were incurred to temporarily finance a portion of the company's 1965 construction program, and to finance a part of the company's 1966 construction expenditures. The 1966 program included expansion of the company's service area in the Upper Peninsula and the northern part of the Lower Peninsula of Michigan; the normal extensions, replacements, and improvement of facilities in present service areas; and expansion and development of storage fields. |