Printer Friendly

CEI SELLS $100 MILLION OF FIRST MORTGAGE BONDS

 CLEVELAND, June 16 /PRNewswire/ -- The Cleveland Electric Illuminating Company, a Centerior Energy (NYSE: CX) company, today sold $100 million of first mortgage bonds.
 The bonds have a 7.375 percent interest rate. They were offered to the public at 99.958 percent to yield 7.38 percent over 10 years. The effective interest cost to Cleveland Electric is 7.477 percent. The bonds are noncallable.
 The underwriters are Morgan Stanley & Co. Incorporated, The First Boston Corporation and Merrill Lynch & Co. The bonds are available from the underwriters, not Cleveland Electric.
 Moody's Investors Service, Inc., rates the bonds Baa3. Standard & Poor's and Duff & Phelps Inc. both rate the bonds BBB minus.
 -0- 6/16/93
 /CONTACT: Lee Bailey of Centerior Energy, 216-447-3235, or 216-623-1060, after hours/
 (CX)


CO: Cleveland Electric Illuminating Company; Centerior Energy Corp. ST: Ohio IN: UTI SU:

KL -- CL010 -- 2565 06/16/93 11:16 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:Jun 16, 1993
Words:148
Previous Article:SHOPKO TO BUILD 37 STORES IN 1994-96; TEN NEW STORES TO OPEN NEXT YEAR
Next Article:COMMERCIAL NET LEASE REALTY, INC. UNDERWRITERS EXERCISE 100,000 SHARE OVER-ALLOTMENT
Topics:


Related Articles
GULF STATES ANNOUNCES PUBLIC OFFERING
DUKE POWER COMPANY $425 MILLION BOND, NOTE SHELVES RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
DUKE POWER $275 MILLION DEBT RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
FPL ANNOUNCES SALE OF FIRST MORTGAGE BONDS
CENTRAL AND SOUTH WEST CORPORATION UNIT OFFERS FIRST MORTGAGE BONDS
MIDWEST POWER SYSTEMS ISSUES NEW BONDS
MIDWEST POWER SYSTEMS $150 MILLION MORTGAGE BONDS RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --
CENTRAL AND SOUTH WEST CORPORATION UNIT OFFERS $135 MILLION FIRST MORTGAGE BONDS
CENTRAL AND SOUTH WEST CORPORATION UNIT OFFERS FIRST MORTGAGE BONDS
TEXAS-NEW MEXICO POWER COMPANY SELLS $240 MILLION IN DEBT SECURITIES

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters