Printer Friendly

POLLUTION CONTROL REVENUE BONDS ISSUED FOR BENEFIT OF PSE&G

 NEWARK, N.J., Sept. 9 /PRNewswire/ -- Public Service Electric and Gas Company today announced the following:
 The Pollution Control Financing Authority of Salem County (New Jersey) today sold through competitive bidding $23 million principal amount of its Pollution Control Revenue Bonds, 1993 Series B (Public Service Electric and Gas Company Project) due March 1, 2025.
 The bonds were purchased by Dean Witter Reynolds Inc. from the authority at a price of 98.375 percent of principal amount and an annual interest rate of 5.20 percent, which results in an annual cost of money of 5.3067 percent. The bonds will be offered to the public at a price of 100 percent plus accrued interest from Sept. 1, 1993.
 Interest will be payable semi-annually on March 1 and Sept. 1 of each year, commencing March 1, 1994. Payments of principal and interest will be secured and serviced by a series of PSE&G's First and Refunding Mortgage Bonds.
 The bonds are rated "AAA" by Standard and Poor's Corporation and "Aaa" by Moody's Investors Service and are fully insured by Municipal Bond Investors Assurance Corporation.
 Proceeds of the bonds will be used to reimburse PSE&G for a portion of its cost to acquire and construct certain pollution control facilities at the Salem Generating Station.
 -0- 9/9/93
 /CONTACT: Priscilla Suber Brown of PSE&G, 201-430-6021/


CO: Public Service Electric and Gas Company ST: New Jersey IN: UTI SU:

TW-TS -- NY050 -- 0351 09/09/93 13:09 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:Sep 9, 1993
Words:248
Previous Article:DEFINITIVE STUDY ON INTEGRATED DELIVERY SYSTEMS SHOWS DRAMATIC HEALTHCARE INDUSTRY SHIFT
Next Article:D&P: SOUTHWESTERN BELL TELEPHONE COMPANY $200 MILLION 5.75 PERCENT NOTES DUE 2004 AND $200 MILLION 6.625 PERCENT DEBENTURES DUE 2024 RATED 'A+'
Topics:

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