Lehman Brothers Collection - Contemporary Business Archives

Harvard Business School Baker Library Historical Collections

Lehman Brothers Collection

Twentieth-Century Business Archives

P. Lorillard Company Deal - Lehman Brothers Collection

P. Lorillard Company

Company Dealissue of 20-year 3% debentures and common stock
Transaction TypeDebentures
Deal DescriptionP. Lorillard Company applied the proceeds from this transaction toward the payment at maturity of the company's 7% gold bonds due October 1, 1944. The balance of the proceeds was applied to the payment or reduction of the company's short-term loans payable to banks. Any excess was applied to the payment of expenses incident to the registration, issuance, and sale of the debentures and common stock, and the balance was added to the company's working capital.
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