S. S. Kresge Company
| Company Deal | registration and sale of 4 1/8% convertible subordinated debentures |
|---|---|
| Transaction Type | Convertible Subordinated Debentures |
| Deal Description | S. S. Kresge Company added the net proceeds from this transaction to its general funds, to be used for additional inventory and other working capital requirements, including such requirements resulting from further store expansion. The company's increased volume of business had, at the time, increased its working capital requirements. Initially, the proceeds may have been used to reduce short-term borrowings. |