USLIFE Corporation
| Company Deal | $50,000,000 notes due July 15, 1985 |
|---|---|
| Transaction Type | Notes |
| Deal Description | USLIFE Corporation used a portion of the proceeds from this transaction to repay certain bank borrowings incurred for general corporate purposes of the consumer credit subsidiaries. Another portion of the proceeds was used to retire a term bank loan payable by the company. This loan was incurred in 1970 for the purpose of purchasing a California savings and loan association. Another portion was used to reduce certain short-term bank borrowings, the proceeds of which were advanced to subsidiaries for working capital purposes. |