Lehman Brothers Collection - Contemporary Business Archives

Harvard Business School Baker Library Historical Collections

Lehman Brothers Collection

Twentieth-Century Business Archives

Southern Bell Telephone and Telegraph Company Deal - Lehman Brothers Collection

Southern Bell Telephone and Telegraph Company

Company Deal$150,000,000 33-year 9.05% debentures due July 1, 2003
Transaction TypeDebentures
Deal DescriptionSouthern Bell Telephone and Telegraph Company applied a portion of the proceeds from this transaction toward the payment of note payable (bank loans, commercial paper, and other notes payable). The balance of the proceeds was applied to reduce advances and notes payable. Advances were obtained from the American Company and notes payable were issued to others to obtain interim financing for general corporate purposes, including extensions, additions, and improvements to the company's plant.
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