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COASTAL COMPLETES $250 MILLION PUBLIC OFFERING

 COASTAL COMPLETES $250 MILLION PUBLIC OFFERING
 HOUSTON, Sept. 21 /PRNewswire/ -- The Coastal Corporation


(NYSE: CGP) said today it has completed a $250 million public offering of 8-1/8 percent senior notes, due Sept. 15, 2002.
 Lehman Brothers, Citicorp Securities Markets, Inc., Morgan Stanley & Co. Incorporated, and PaineWebber Incorporated were the principal underwriters. The underwriting syndicate also included BT Securities Corporation, Chase Securities, Inc., and UBS Securities Inc.
 Coastal said it intends, subject to market conditions, to use the net proceeds from the offering to fund the redemption of higher cost debt. Pending such redemption, the company intends to retire short-term borrowings, borrowings under revolving credit agreements and long-term debt.
 The Coastal Corporation is a Houston-based energy holding company. Coastal has consolidated assets of $9.4 billion and subsidiary operations in natural gas transmission and storage, refining and marketing, oil and gas exploration and production, coal, chemicals, trucking and independent power production.
 -0- 9/21/92
 /CONTACT: Dave Scott, 713-877-3839, or Steve Eames, 713-877-6733, both of Coastal/
 (CGP) CO: The Coastal Corporation ST: Texas IN: OIL SU: OFR


GK-LD -- NY084 -- 1832 09/21/92 16:21 EDT
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Publication:PR Newswire
Date:Sep 21, 1992
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