Avco Delta Corp. Deal - Lehman Brothers Collection
Avco Delta Corp.
|Company Deal||Avco Delta Corporation: $30,000,000 11% senior debentures due 1990|
|Transaction Type||Senior Debentures|
|Deal Description||Avco Delta Corporation added the net proceeds from this deal to the company's general funds to be applied to the reduction of short-term debt. The short-term debt was originally incurred primarily to provide funds for use in the ordinary course of the company's finance business. The company planned to consolidate the finance operations of Avco Delta and Seaboard Finance Company (a subsidiary) during 1970. The debentures matured on June 15, 1990, and were redeemable after June 15, 1980.|
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