Lehman Brothers Collection - Contemporary Business Archives

Harvard Business School Baker Library Historical Collections

Lehman Brothers Collection

Twentieth-Century Business Archives

Pacific Power & Light Company Deal - Lehman Brothers Collection

Pacific Power & Light Company

Company Dealfirst mortgage bonds 4 5/8% serial preferred stock, redemption of 6.16% preferred stock
Transaction TypeSerial Preferred Stock
Deal DescriptionPacific Power & Light Company applied a portion of the net proceeds from this transaction to the retirement of bank borrowings which were made under a credit agreement to provide funds for the retirement of bonds assumed in merger. Another portion of the proceeds was applied to the redemption of the company's 6.16% serial preferred stock of the par value of $100 per share, plus unpaid accumulated dividends to the date of redemption. Another portion of the proceeds was used for the partial repayment of bank borrowings that were made under a credit agreement to provide funds for financing temporarily the company's construction program.
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