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MITCHELL ENERGY TO OFFER NEW SENIOR NOTES, REDEEM OLDER ISSUE

 MITCHELL ENERGY TO OFFER NEW SENIOR NOTES, REDEEM OLDER ISSUE
 THE WOODLANDS, Texas, March 5 /PRNewswire/ -- Mitchell Energy & Development Corp. (AMEX: MND), announced today that it will issue $250 million of 9-1/4 percent senior notes, priced at par, in a public offering scheduled to close on March 11.
 The notes are due Jan. 15, 2002, and may not be redeemed prior to maturity. Underwriters are The First Boston Corporation; Goldman, Sachs & Co.; and Merrill Lynch & Co.
 Proceeds from the sale will be used to redeem the company's 11-1/4 percent senior notes due 1997. Subject to completion of the new offering, the senior notes due 1997 will be called for redemption on April 13, 1992, at a price of 103.21 percent of their $250 million aggregate principal amount, plus interest accrued to the redemption date.
 Mitchell Energy & Development Corp. is a large petroleum independent with sizable real estate interests in the Houston-Galveston area.
 -0- 3/5/92
 /CONTACT: Tony Lentini or Charles Simpson of Mitchell Energy & Development, 713-377-5650/
 (MND) CO: Mitchell Energy & Development Corp. ST: Texas IN: OIL SU: OFR


TQ -- NY029 -- 5376 03/05/92 10:36 EST
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Publication:PR Newswire
Date:Mar 5, 1992
Words:191
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