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CENTRAL AND SOUTH WEST UNIT OFFERS $65 MILLION OF 7-1/4 PERCENT FIRST MORTGAGE BONDS

 CENTRAL AND SOUTH WEST UNIT OFFERS $65 MILLION OF 7-1/4 PERCENT
 FIRST MORTGAGE BONDS
 DALLAS, July 8 /PRNewswire/ -- Central and South West Corporation (NYSE: CSR) said today that Public Service Company of Oklahoma, one of its wholly owned operating subsidiaries, sold to underwriters in a negotiated offering $65 million of 7-1/4 percent first mortgage bonds, Series S, due July 1, 2003.
 Merrill Lynch & Co. is lead manager for the offering, with the First Boston Corporation as co-manager. The bonds are being offered to the public at 99.741 percent to yield 7.28 percent to maturity. The proceeds to Public Service Company of Oklahoma were 98.991 percent, resulting in a cost of money of 7.39 percent. The new bonds are rated "Aa2" by Moody's Investors Service, "AA-" by Standard & Poors Corporation and "AA" by Duff & Phelps Inc.
 The net proceeds from the sale of the new bonds will be used to refund Public Service Company of Oklahoma's $61 million of 9-5/8 percent first mortgage bonds, Series O, due June 1, 2009.
 Public Service Company of Oklahoma provides electric service to approximately 458,000 customers in a 30,000-square-mile area in Oklahoma.
 Central and South West Corporation is a public utility holding company based in Dallas.
 -0- 7/8/92
 /CONTACT: Wendy Hargus of Central and South West, 214-754-1277/
 (CSR) CO: Central and South West Corporation; Public Service Company of
 Oklahoma ST: Texas, Oklahoma IN: UTI SU: OFR


GK -- NY041 -- 7412 07/08/92 12:22 EDT
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Publication:PR Newswire
Date:Jul 8, 1992
Words:251
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