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ANR PIPELINE COMPANY CALLS 11-3/4 PERCENT DEBENTURES; 9.95 PERCENT FIRST MORTGAGE BONDS FOR REDEMPTION

 HOUSTON, Sept. 1 /PRNewswire/ -- ANR Pipeline Company, a subsidiary of The Coastal Corporation (NYSE: CGP), has given notice today to The Chase Manhattan Bank, N.A., to call for redemption on Nov. 15, 1993, all of ANR Pipeline's 11-3/4 percent Debentures, due Nov. 15, 1997, of which $15 million in principal amount is outstanding.
 The Chase Manhattan Bank is Trustee, Registrar and Paying Agent for the 11-3/4 percent Debentures.
 Formal notice of redemption will be sent by the Trustee to the holders of the Debentures. Of that outstanding, $10 million of the principal amount will be redeemed at par with accrued interest to the redemption date, and $5 million will be redeemed under an optional redemption at 100.86 percent plus accrued interest to the redemption date.
 The Debentures will be redeemed at the office of the Trustee, Corporate Bond Redemptions, 4 Chase MetroTech Center, 3rd Floor, Brooklyn, N.Y. 11245.
 ANR Pipeline also announced it has notified Citibank, N.A., and another trustee of its intention to redeem on Oct. 15, 1993, all of its 9.95 percent 1999 Series First Mortgage Bonds privately in the principal amount of approximately $37 million. Of the redemption, $10,626,000 will be at par together with accrued interest to the redemption date, and $26,557,000 will be at 103.32 percent of the principal amount plus accrued interest to the redemption date.
 "These redemption announcements reflect a focus by Coastal and its subsidiaries on eliminating higher-cost debt and reducing the company's overall debt levels," said David A. Arledge, Coastal's senior executive vice president and chief operating officer.
 ANR Pipeline Company is a subsidiary of The Coastal Corporation, a Houston-based energy holding company. Coastal has consolidated assets of more than $10 billion with subsidiary operations in natural gas marketing, transmission and storage, petroleum refining and marketing, oil and gas exploration and production, coal, chemicals, trucking and independent power production.
 -0- 9/1/93
 /CONTACT: Steve Eames of The Coastal Corporation, 713-877-6733/
 (CGP)


CO: ANR Pipeline Company ST: Texas IN: OIL SU:

TM -- NY065 -- 8088 09/01/93 16:05 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
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