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COASTAL COMPLETES $300 MILLION PUBLIC OFFERING

 COASTAL COMPLETES $300 MILLION PUBLIC OFFERING
 HOUSTON, May 21 /PRNewswire/ -- The Coastal Corporation (NYSE: CGP)


said today it has completed $300 million public offering of notes and debentures.
 The offering was $150 million principal amount of 8-3/4 percent senior notes, due May 15, 1999, and $150 million principal amount of 9-5/8 percent senior debentures, due May 15, 2012.
 Lehman Brothers, Morgan Stanley & Co., Incorporated, and PaineWebber Incorporated were the principal underwriters. The underwriting syndicate also included Citicorp Securities Markets, Inc., Chase Securities, Inc., and UBS Securities Inc.
 Coastal said it intends to use the net proceeds from the offerings to repay short-term borrowings, borrowings under revolving credit facilities 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- 5/21/92
 /CONTACT: David N. Scott, 713-877-3839, or Steven M. Eames, 713-877-6733, both of Coastal/
 (CGP) CO: Coastal Corporation ST: Texas IN: OIL SU: OFR


SM-TS -- NY064 -- 2853 05/21/92 12:48 EDT
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Publication:PR Newswire
Date:May 21, 1992
Words:191
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