Printer Friendly

NORTHERN ILLINOIS GAS COMPANY OFFERS FIRST MORTGAGE BONDS

 NEW YORK, April 27 /PRNewswire/ -- The First Boston Corporation and associates announced today the public offering of $50 million principal amount of Northern Illinois Gas Company, first mortgage bonds 5-7/8 percent series due May 1, 2000, at 99.366 percent of their principal amount, plus accrued interest from May 1, 1993, to yield 5.987 percent. The bonds are not redeemable prior to May 1, 1998; thereafter they are redeemable at 100 percent of their principal amount.
 Associated with the First Boston Corporation in the bid are: Donaldson, Lufkin & Jenrette Securities Corporation; Kemper Securities Group, Inc.; and Tucker Anthony Incorporated. The underwriters were awarded the issue on their bid of 6.036 percent cost of funds to the company.
 The net proceeds from the sale of the bonds will be used for the 1993 retirement of the $46,990,000 outstanding principal amount of the 8-3/4 percent first mortgage bonds due Dec. 1, 2016.
 The company, a wholly-owned subsidiary of NICOR Inc. (NYSE: GAS), is primarily engaged in the purchase, storage, distribution, sale and transportation of natural gas to the public in Northern Illinois generally outside the city of Chicago.
 -0- 4/27/93
 /CONTACT: Joseph D. Fashano, vice president of First Boston, 212-909-2107/
 (GAS)


CO: Northern Illinois Gas Company; NICOR Inc. ST: Illinois IN: UTI SU: OFR

GK -- NY087 -- 1456 04/27/93 13:39 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 27, 1993
Words:229
Previous Article:CINCINNATI MILACRON DECLARES DIVIDENDS
Next Article:OMEGA FIRST QUARTER EARNINGS UP
Topics:


Related Articles
NORTHERN ILLINOIS GAS $75 MILLION FIRST MORTGAGE BONDS RATED 'AA+' BY FITCH -- FITCH FINANCIAL WIRE --
DUFF & PHELPS RATES NORTHERN ILLINOIS GAS COMPANY'S $75 MILLION FIRST MORTGAGE BONDS 'AA+'
DUFF & PHELPS: ILLINOIS POWER COMPANY $235 MILLION "NEW MORTGAGE BONDS" RATED 'BBB'
DUFF & PHELPS RATES NORTHERN ILLINOIS GAS COMPANY'S $50 MILLION FIRST MORTGAGE BONDS 'AA+'
NORTHERN ILLINOIS GAS $50 MILLION FIRST MORTGAGE BONDS RATED 'AA+' BY FITCH -- FITCH FINANCIAL WIRE --
DUFF & PHELPS RATES NORTHERN ILLINOIS GAS COMPANY'S $50 MILLION FIRST MORTGAGE BONDS 'AA+'
NORTHERN ILLINOIS GAS $50 MILLION FIRST MORTGAGE BONDS 'AA+' BY FITCH -- FITCH FINANCIAL WIRE --
DUFF & PHELPS RATES NORTHERN ILLINOIS GAS COMPANY'S PROPOSED $50 MILLION FIRST MORTGAGE BONDS 'AA+'
NORTHERN ILLINOIS-GAS $50 MILLION 7-3/8 PERCENT FIRST MORTTGAGE BONDS DUE 2023 'AA+' BY FITCH -- FITCH FINANCIAL WIRE --
DCR Rates Northern Illinois Gas Company's $50 Million First Mortgage Bond Offering 'AA+'

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters