| Deal Description | The 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 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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