Westinghouse Electric Corporation
| Company Deal | $200,000,000 5 3/8% debentures due April 1, 1992 |
|---|---|
| Transaction Type | Debentures |
| Deal Description | Westinghouse Electric Corporation added the net proceeds from this transaction to its general funds, to be available for its continuing plant improvement and expansion program and for working capital requirements. Initially, the proceeds were applied to the reduction of short-term bank borrowings under a revolving credit agreement. All divisions of the company had invested in new and additional facilities and equipment to provide increased capacity or in conneciton with continuing cost reduction and modernization programs. Included in the major projects at that time was a long-range program designed to provide increased capacity for divisions engaged in the manufacture of conventional and nuclear generating equipment used by the electric utility industry. |