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AT&T CALLS TWO DEBT ISSUES TOTALING $800 MILLION FOR EARLY REDEMPTION

AT&T CALLS TWO DEBT ISSUES TOTALING $800 MILLION FOR EARLY REDEMPTION
 NEW YORK, Jan. 15 /PRNewswire/ -- AT&T (NYSE: T) said today it is calling two debt issues totaling $800 million for early redemption.
 Today's call for redemption and the recent sale of $1 billion of new debt, also completed today, are intended to help reduce AT&T's interest expense and extend the maturity of its debt at favorable rates.
 The two issues, to be redeemed on February 14, 1992, are:
 -- $500 million of 8.8-percent debentures that are due to mature on May 15, 2005. These debentures, issued in May 1974, will be redeemed at 103.05 percent of face value.
 -- $300 million of 8-5/8-percent debentures due February 1, 2007, which were issued in January 1975 and will be redeemed at 103.19 percent of face value.
 AT&T will fund the redemption with a portion of the $500 million of new 30-year debentures and $500 million of 10-year notes offered for sale January 7. Most of the remaining $200 million will be applied toward a redemption announced last month of some 1970 debt issues.
 Interest accruing on the debentures through the redemption date will be paid in a separate check to holders of record as of January 31, 1992, after which requests for transfers no longer will be accepted.
 The redemptions will be managed by American Transtech Inc.
 -0- 1/15/92
 /CONTACT: Jim Byrnes, 908-221-4011 (office), or 908-689-6040 (home); or Dick Gray, 908-221-5057 (office), or 908-232-3706 (home), both of AT&T/
 (T) CO: AT&T ST: New Jersey IN: TLS SU: SB -- NY026 -- 0089 01/15/92 15:00 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jan 15, 1992
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