Lehman Brothers Collection - Contemporary Business Archives

Harvard Business School Baker Library Historical Collections

Lehman Brothers Collection

Twentieth-Century Business Archives

Bethlehem Steel Corp. Deal - Lehman Brothers Collection

Bethlehem Steel Corp.

Company Deal$150,000,000 9% debentures due May 15, 2000
Transaction TypeDebentures
Deal DescriptionBethlehem Steel Corporation used a portion of the net proceeds from this transaction to retire its series I consolidated mortgage bonds at their maturity on July 15, 1970. The balance was to be used for general corporate purposes, including meeting the cost of additions and improvements to property. No specific allocations had been made at the time of the deal for any part of such balance. The additions and improvements to property included a battery of coke ovens, a blast furnace, two basic oxygen furnaces, a slabbing mill, a plate mill, a tin mill complex and a hot sheet mill at the Burns Harbor plant, two basic oxygen furnaces and a structural mill at the Bethlehem plant, an electric furnace melt shop at the Steelton plant, two basic oxygen furnaces, a rod mill, and facilities at the Lackawanna plant, and a structural fabricating works and a sheet-galvanizing line at the Pinole Point plant. Authorized expected additions included a second battery of coke ovens, a second blast furnace, a third basic oxygen furnace and additional hot rolled finishing facilities at the Burns Harbor plant, improvements to shipping facilities for structural shapes at the Bethlehem and Lackawanna plants, and improved docking and ore-handling facilities at the Sparrows Point plant.
Harvard Business School Harvard Business School Baker Library Histrorical Collections