Dart Industries, Inc. Deal - Lehman Brothers Collection
Dart Industries, Inc.
|Company Deal||public offering of $20,000,000 principal amount of 4 3/4% subordinated debentures due August 15, 1987 (exchangeable on and after September 1, 1973, for common stock of Minnesota Mining and Manufacturing Company)|
|Transaction Type||Subordinated Debentures|
|Deal Description||Dart Industries, Inc., used the proceeds from this transaction to help meet its obligations under the U. S. foreign direct investment regulations that may have arisen in connection with the company's international operations. A portion of the proceeds was used to retire loans obtained outside of the United States. The balance was to be added to the company's general funds. The debentures were exchangeable for 3M (Minnesota Mining and Manufacturing Company) common stock after September 1, 1973 at the exchange rate of 10.10 shares per debenture.|
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