United Biscuit Company of America
| Company Deal | issue of 5% debenture bonds |
|---|---|
| Transaction Type | Debenture Bonds |
| Deal Description | United Biscuit Company of America used a portion of the proceeds from this transaction to redeem all of the fifteen-year 6% debentures of the company then outstanding or to reimburse the company for amounts expended in acquiring such debentures prior to the redemption date. Another portion of the proceeds was used to retire the entire indebtedness of Chicago Carton Company owed to Central Manufacturing District. Another portion was used to retire all notes payable of the company. Finally, any balance of the proceeds was retained in the treasury as cash or advanced to subsidiaries to finance the ordinary conduct of business or used for possible plant construction, expansion, or improvement. |