Western Europe: Bonds Across the Sea

In need of funds to expand European operations and limited by the Administration's balance-of-payments guidelines in the amount it can send from home, Honeywell Inc. of Minneapolis is about to try a solution that has become increasingly popular among U.S. corporations. Working through the Zurich office of the New York investment house of White, Weld & Co., Honeywell will market a $20 million bond issue among the financial centers of Europe. Without straining the balance of payments, the company will thus get all the money needed for expansion, although at a slightly...

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