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BALTIMORE GAS AND ELECTRIC COMPANY SELLS $40 MILLION OF 7.125 PERCENT CUMULATIVE PREFERENCE STOCK

 BALTIMORE, June 17 /PRNewswire/ -- Baltimore Gas and Electric Company (NYSE: BGE) sold 400,000 shares of 7.125 percent cumulative preference stock, 1993 series ($100 par value) to an underwriting group led by Lehman Brothers, the company's Board Chairman Christian H. Poindexter said today.
 This is the first time that the company has issued perpetual preference stock since 1974. The new preference stock is not subject to redemption prior to July 1, 2003. Thereafter, it may be redeemed in whole or in part at any time at the option of the company. The new preference stock is not entitled to any sinking fund.
 The net proceeds from the financing will be used to meet capital requirements or for other general corporate purposes relating to the company's utility business.
 -0- 6/17/93
 /CONTACT: Arthur J. Slusark, director of public information of Baltimore Gas and Electric, 410-234-7433/
 (BGE)


CO: Baltimore Gas and Electric Company ST: Maryland IN: UTI SU:

MJ-CC -- PH044 -- 3318 06/17/93 17:36 EDT
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Publication:PR Newswire
Date:Jun 17, 1993
Words:167
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