Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

Brown Shoe Co., Inc. Deal - Lehman Brothers Collection

Brown Shoe Co., Inc.

Company DealBrown Shoe Company, Inc.: issue of 15-year 3 3/4% sinking fund debentures
Transaction TypeSinking Fund Debentures
Deal DescriptionBrown Shoe Company, Inc., used a portion of the net proceeds from this transaction to redeem its outstanding cumulative preferred stock. The remainder of net proceeds was first to be applied to the reduction or elimination of all bank loans to the company that may have been outstanding at the time. Such bank loans were incurred to finance the company's seasonal operations. Any excess over the amount of such bank loans was added to the company's general funds.
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