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CENTRAL AND SOUTH WEST CORPORATION UNIT OFFERS FIRST MORTGAGE BONDS

 CENTRAL AND SOUTH WEST CORPORATION UNIT OFFERS FIRST MORTGAGE BONDS
 DALLAS, Sept. 25 /PRNewswire/ -- Central and South West Corporation (NYSE: CSR) announced today that on Sept. 24, 1992, Central Power and Light Company, one of its wholly owned operating subsidiaries, sold to underwriters in a negotiated offering $200 million of 6 percent First Mortgage Bonds, Series BB, due Oct. 1, 1997, and $100 million of 7-1/4 percent First Mortgage Bonds, Series CC, due Oct. 1, 2004. The bonds are the first issuance under Central Power and Light Company's $800 million shelf registration.
 The Series BB bonds are being offered to the public at 99.468 percent to yield 6.125 percent to maturity, and the Series CC bonds are being offered to the public at 99.541 percent to yield 7.31 percent to maturity. Both series are noncallable for life. The new bonds are rated A2 by Moody's Investors Service and A by Standard & Poor's and Duff & Phelps. Merrill Lynch & Co. is lead manager for the offering with Goldman, Sachs & Co., Morgan Stanley and Lehman Brothers as co-managers.
 Net proceeds from the sale of the new bonds will be used to refund the following Central Power and Light Company First Mortgage Bonds:
 -- $200 million principal amount of the 8-3/4 percent Series W, due May 1, 1996, at 101.25 percent of the principal amount to be redeemed on Oct. 29, 1992;
 -- $100 million principal amount of the 9-3/4 percent Series X, due Nov. 1, 1994, at 100.00 percent of the principal amount to be redeemed on Nov. 1, 1992.
 Central and South West Corporation, a Dallas-based public utility holding company, owns four electric subsidiary companies that provide service to portions of Texas, Oklahoma, Louisiana and Arkansas. It also owns an Oklahoma intrastate natural gas pipeline subsidiary and four other subsidiaries.
 -0- 9/25/92
 /CONTACT: Wendy Hargus, director-investor relations of Central and South West, 214-754-1277/
 (CSR) CO: Central and South West Corporation ST: Texas IN: UTI SU: OFR


TS -- NY023 -- 3468 09/25/92 11:08 EDT
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Publication:PR Newswire
Date:Sep 25, 1992
Words:342
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