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GULF STATES UTILITIES COMPLETES NEGOTIATIONS FOR PUBLIC OFFERING

 GULF STATES UTILITIES COMPLETES NEGOTIATIONS FOR PUBLIC OFFERING
 BEAUMONT, Jan. 14 /PRNewswire/ -- Gulf States Utilities Co. has completed negotiations for the public offering of $300 million in first mortgage bonds. The sale is being offered by Goldman, Sachs & Co., First Boston Corp., Kidder, Peabody & Co., Inc. and J.P. Morgan Securities Inc.
 The underwriters are offering $150 million in 10-year bonds to the public at a 8.21 percent interest rate and the remaining $150 million in 30-year bonds at an 8.94 percent interest rate.
 Proceeds from the sale will be used to redeem outstanding first mortgage bonds with interest rates ranging from 13.5 percent to 16.8 percent.
 GSU is a Beaumont, Texas-based electric utility serving more than 574,000 customers along the Gulf Coast between New Orleans and Houston.
 -0- 1/14/92
 /CONTACT: Susan Huff Gilley of Gulf States Utilities, 409-839-2846/
 (GSU) CO: Gulf States Utilities Co. ST: Texas IN: UTI SU: OFR


JT -- NY079 -- 9782 01/14/92 17:57 EST
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Publication:PR Newswire
Date:Jan 14, 1992
Words:167
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