Lehman Brothers Collection - Contemporary Business Archives

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Twentieth-Century Business Archives

Union Electric Company Deal - Lehman Brothers Collection

Union Electric Company

Company Dealfinancing, common stock
Transaction TypeCommon Stock
Deal DescriptionUnion Electric Company initially added the net proceeds from this transaction to its general funds, through reimbursement of its treasury for capital expenditures. Such funds were used to retire short-term bank loans, to finance the cost of continuing additions to its property and plant, and for other corporate purposes. The short-term bank loans were incurred to meet in part the cost of additions to its property and plant during 1965. Included in the additions were construction expenditures in connection with the first generating unit being installed at the company's new steam electric generating plant (Sioux plant), commencement of construction of a second unit at that plant of similar size, construction of a 161 Kv interconnection with Missouri Public Service Company, and construction of a 345 Kv interconnection with five Iowa companies and Northern States Power Company.
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