The Brooklyn Union Gas Co. Deal - Lehman Brothers Collection
The Brooklyn Union Gas Co.
|Company Deal||The Brooklyn Union Gas Company: $25,000,000 principal amount first mortgage bonds 6 1/4% series due 1992|
|Transaction Type||First Mortgage Bonds|
|Deal Description||The Brooklyn Union Gas Company used the net proceeds from this transaction to retire its bank loans incurred for construction purposes. Such loans were outstanding at the time of the deal in the amount of $14,000,000. The balance of the proceeds was added to the general funds of the company and used for the 1967 construction program. The construction program included the extension and modernization of the company's distribution system, a new liquefied gas plant, and new electronic data processing equipment.|
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