Eaton Yale & Towne Inc. Deal - Lehman Brothers Collection
Eaton Yale & Towne Inc.
|Company Deal||$40,000,000 5 1/2% debentures due 1992|
|Deal Description||Eaton Yale & Towne, Inc., used the net proceeds from this transaction to reduce the amount of outstanding short-term notes payable to banks in the United States. A portion of such notes payable was incurred to pay off unsecured promissory notes of Yale & Towne, Inc., the Company's wholly owned subsidiary, assumed by the subsidiary when it acquired substantially all the assets of the Yale and Towne Manufacturing Comopany. The balance of the short-term loans represented by the notes was incurred to finance inventories and accounts receivable.|
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