Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

The Detroit Edison Company Deal - Lehman Brothers Collection

The Detroit Edison Company

Company Deal$100,000,000 general and refunding mortgage bonds series V, 8.15% due December 15, 2000, and $50,000,000 general and refunding mortgage bonds series W, 7.00% due June 15, 1976
Transaction TypeGeneral and Refunding Mortgage Bonds
Deal DescriptionThe Detroit Edison Company used the net proceeds from this transaction to repay short-term bank borrowings and commercial paper, issued in connection with interim financing of the company's construction program. The balance was applied to the company's construction program. The 1970-1971 construction program included three additional generating plants, the construction of transmission and distribution lines and substations, new business extensions, the construction of other production plant, additional peaking units, environmental quality control expenditures, and other property and equipment.
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