Lehman Brothers Collection - Contemporary Business Archives

Harvard Business School Baker Library Historical Collections

Lehman Brothers Collection

Twentieth-Century Business Archives

The Offshore Company Deal - Lehman Brothers Collection

The Offshore Company

Company Deal350,000 shares common stock; $35,000,000 5% convertible subordinated debentures due December 1, 1992
Transaction TypeConvertible Subordinated Debentures
Deal DescriptionThe Offshore Company used the net proceeds from this transaction to reduce indebtedness to banks incurred in connection with the purchase and construction of drilling equipment. A portion of the proceeds was used to repay indebtedness to Southern, and a portion to repay short-term indebtedness to banks incurred in connection with the payment of a dividend to Southern and McDermott. Any balance was added to the general funds of the company.
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