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SOUTHERN CALIFORNIA EDISON SELLS 7-YEAR BONDS AND CALLS ITS 8-7/8 PERCENT SERIES FF BONDS

 SOUTHERN CALIFORNIA EDISON SELLS 7-YEAR BONDS
 AND CALLS ITS 8-7/8 PERCENT SERIES FF BONDS
 ROSEMEAD, Calif., March 24 /PRNewswire/ -- Southern California Edison Co. today sold $150 million of seven-year first and refunding mortgage bonds, series 92B, due 1990.
 The company will use the proceeds from the issue for the redemption, repayment or retirement of outstanding indebtedness, the financing of construction expenditures or other general corporate purposes.
 The bonds were sold to a group of underwriters led by Goldman Sachs and were priced at 98.594 percent of the principal amount with a 7.50 percent coupon, which results in a 7.76 percent cost to the company.
 Goldman's offer was the lowest cost of money among the three competing bids received. The bonds were expected to be offered to the public by the underwriters at 98.844 percent of the principal amount, to yield 7.72 percent.
 This offering is being made only through a propsectus, which may be obtained from the underwriters.
 The company also announced it has elected to redeem all of its outstanding first and refunding mortgage bonds, 8-7/8 percent series FF, due 2000. These bonds will be redeemed on April 23, 1992 at a redemption price of 102.59 percent, plus accrued interest to the date of redemption.
 -0- 3/24/92
 /CONTACT: Robert Goodlow or Kevin Kelley of Southern California Edison, 818-302-2255/ CO: Southern California Edison ST: California IN: UTI SU:


AL -- LA030 -- 1288 03/24/92 17:33 EST
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Publication:PR Newswire
Date:Mar 24, 1992
Words:247
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