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GULF STATES UTILITIES COMPANY ANNOUNCES PUBLIC OFFERING

 BEAUMONT, Texas, July 28 /PRNewswire/ -- Gulf States Utilities Co. (NYSE: GSU) has completed negotiations for the public offering of $290 million in first mortgage bonds. The bonds are being offered by Goldman, Sachs & Co.; Kidder, Peabody & Co. Inc.; Merrill Lynch & Co.; J.P. Morgan Securities Inc.; and Prudential Securities Inc.
 The underwriters are offering $170 million in 8-year bonds to the public at a 6.41 percent interest rate, and $120 million in 12-year bonds at a 6.77 percent interest rate.
 Proceeds from the sale, together with funds from other sources, will be used to redeem $290 million of outstanding first mortgage bonds with interest rates ranging from 8.625 percent to 7.5 percent. Gulf States will save about $5 million annually in interest costs with the new bonds, a company official estimated.
 GSU is a Beaumont, Texas-based utility serving more than 592,000 customers along the Gulf Coast between Houston and New Orleans.
 -0- 7/28/93
 /CONTACT: Sharon Englade of Gulf States Utilities Co., 409-839-2814/
 (GSU)


CO: Gulf States Utilities Co. ST: Texas IN: OIL SU: OFR

TM -- NY121 -- 7003 07/28/93 18:09 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
Words:190
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