Universal Oil Products Company
| Company Deal | $25,000,000 6 5/8% sinking fund debentures due May 1, 1993 |
|---|---|
| Transaction Type | Sinking Fund Debentures |
| Deal Description | Universal Oil Products Company applied the net proceeds from this transaction to the retirement of bank borrowings outstanding under the 5 1/2%-6% interim credit notes payable December 31, 1968, which were incurred for acquisitions, capital expenditures, and expanding working capital requirements. The remaining proceeds were added to the company's general funds and used for general corporate purposes. Capital expenditures in 1967 included plant and equipment additions. |