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LINCOLN TELEPHONE REDEEMS SERIES G, I AND J FIRST MORTGAGE BONDS

 LINCOLN, Neb., June 4 /PRNewswire/ -- The Lincoln Telephone and Telegraph Co., the principal subsidiary of Lincoln Telecommunications Co. (NASDAQ-NMS: LTEC), has called for redemption on July 6, 1993, the entire outstanding balance of Lincoln Telephone's Series G, I and J First Mortgage Bonds. Total principal amount is $34,750,000, which will be refinanced through short-term borrowing.
 President and Chief Executive Officer Frank H. Hilsabeck said the action was taken to take advantage of the significantly lower interest rates available in the market place today. Hilsabeck noted Lincoln Telephone's AAA bond credit rating from Standard & Poor's Corp. gives Lincoln Telephone considerable flexibility to take advantage of this opportunity.
 Lincoln Telephone provides comprehensive local exchange telecommunications services in 22 counties in southeast Nebraska.
 -0- 6/4/93
 /CONTACT: Elaine Carpenter of Lincoln Telecommunications, 402-476-4282/
 (LTEC)


CO: The Lincoln Telephone and Telegraph Co.; Lincoln Telecommunications
 Co. ST: Nebraska IN: TLS SU:


MC -- DV006 -- 5553 06/04/93 15:43 EDT
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Publication:PR Newswire
Date:Jun 4, 1993
Words:158
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