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CENTRAL AND SOUTH WEST CORPORATION UNIT OFFERS FIRST MORTGAGE BONDS

 DALLAS, Nov. 19 ~PRNewswire~ -- Central and South West Corporation (NYSE: CSR) announced today that Public Service Company of Oklahoma (PSO), one of its wholly owned operating subsidiaries, sold to underwriters in a negotiated offering $50 million of 7-3~8 percent First Mortgage Bonds, Series T, due Dec. 1, 2004. After the issuance of the Series T Bonds, PSO has $135 million remaining on its shelf registration statement.
 The Series T bonds are being offered to the public at 99.858 percent to yield 7.39 percent to maturity and are noncallable for life. The proceeds to PSO were 99.083 percent, resulting in a cost of money of 7.49 percent. The new bonds are rated Aa2 by Moody's Investors Service, AA- by Standard & Poor's and AA by Duff & Phelps. Morgan Stanley is lead manager for the offering with Merrill Lynch as co-manager.
 Net proceeds from the sale of the new bonds will be used to repay short-term debt, to provide working capital or for other general corporate purposes.
 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- 11~19~92
 ~CONTACT: Wendy Hargus, director of investor relations of Central and South West, 214-754-1277~
 (CSR)


CO: Central and South West Corporation ST: Texas IN: UTI SU: OFR

TM -- NY113 -- 3111 11~19~92 16:43 EST
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Publication:PR Newswire
Date:Nov 19, 1992
Words:249
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