Lehman Brothers Collection - Contemporary Business Archives

Harvard Business School Baker Library Historical Collections

Lehman Brothers Collection

Twentieth-Century Business Archives

Holiday Inns, Inc. Deal - Lehman Brothers Collection

Holiday Inns, Inc.

Company Deal$30,000,000 9 1/2% first mortgage bonds due December 15, 1995, with warrants to purchase 330,000 shares of common stock, 600,000 shares of common stock
Transaction TypeFirst Mortgage Bonds / Common Stock
Deal DescriptionHoliday Inns, Inc., deposited the net proceeds from this transaction with the trustee under the mortgage. The funds were expended for the construction, acquisition, and improvement of the inns. A portion of the proceeds was used to reduce short-term indebtedness to banks and, upon maturity, commercial paper, which was issued for working capital purposes (including interim construction financing).
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