| Deal Description | Northern Indiana Public Service Company added the net proceeds from this transaction to its working capital for ultimate application to the cost of gross additions to its utility properties, including application toward prepayment of bank loans made to provide funds for the construction program. At the time of the deal, the company was engaged in a continuous contruction program, the extent of which was based upon current and estimated future loads of the system. The program included expenses for electric production plants, electric transmission and distribution facilities, services to electric and gas customers, underground gas storage, gas transmission and distribution lines, and structures and general equipment. The company planned to construct a new generating unit in 1971-1972. |
|---|
