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TEXACO ANNOUNCES PUBLIC ISSUANCE OF $150 MILLION IN 40-YEAR DEBT SECURITIES

 TEXACO ANNOUNCES PUBLIC ISSUANCE OF $150 MILLION IN 40-YEAR
 DEBT SECURITIES
 WHITE PLAINS, N.Y., July 29 /PRNewswire/ -- Texaco Inc. (NYSE: TX) has announced that its wholly owned finance subsidiary, Texaco Capital Inc., is issuing $150 million of 40-year debentures in a public offering. These securities, which will mature on Aug. 1, 2032, are being offered at a price of 98.06 percent of par with an interest coupon rate of eight percent. Texaco Inc. will unconditionally guarantee the securities.
 Proceeds from the sale will be loaned to Texaco Inc. or its subsidiaries to be used for working capital, for retirement of debt and for other general corporate purposes.
 The sale is being offered through an underwriting group led by Morgan Stanley & Co. and co-managed by The First Boston Corporation and Salomon Brothers Inc. Bear, Stearns & Co. Inc. is also an underwriter of these securities. The debt securities are issued under a shelf registration statement that was filed with the Securities and Exchange Commission in May 1992.
 -0- 7/29/92
 /CONTACT: Jim Swords of Texaco, 914-253-4103/
 (TX) CO: Texaco Capital Inc.; Texaco Inc. ST: New York IN: OIL SU: OFR


LR -- NY112 -- 4780 07/29/92 16:41 EDT
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Publication:PR Newswire
Date:Jul 29, 1992
Words:200
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