Collins & Aikman Corp. Deal - Lehman Brothers Collection
Collins & Aikman Corp.
|Company Deal||Collins & Aikman Corporation: $10,000,000 4 5/8% convertible subordinated debentures due July 1, 1991|
|Transaction Type||Convertible Subordinated Debentures|
|Deal Description||Collins & Aikman Corporation added the net proceeds from this transaction to the general funds of the corporation. A portion of the proceeds was applied to the reduction of short-term debt, which was incurred in part in connection with an acquisition and in part to finance inventory and for a variety of other corporate purposes. The corporation acquired a small yarn-manufacturing company in June of 1966 to provide facilities for production of certain other types of yarn, which it was believed would be complementary to the corporation's yarn. The corporation anticipated further capital expenditures for a new plant and equipment in addition to capital expenditures from funds generated internally and additional working capital needs.|
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