Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

Chase Manhattan Corp. Deal - Lehman Brothers Collection

Chase Manhattan Corp.

Company DealChase Manhattan Corporation: $200,000,000 floating rate notes due 1999
Transaction TypeFloating Rate Notes
Deal DescriptionThe Chase Manhattan Corporation applied a portion of the net proceeds from this transaction to the repayment at maturity of commercial paper. Of the corporation's outstanding commercial paper, approximately $110,000,000 was issued to fund the short-term financing activities of the corporations non-banking subsidiaries, including Dovenmuehle, Inc., and Housing Investment Corporation of Florida, which have used the proceeds to fund transactions in their mortgage banking businesses. The balance of the proceeds was invested in short-term liquid assets pending application to other corporate purposes, including further funding of short-term financing activities of the corporation's non-banking subsidiaries.
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