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COLORADO INTERSTATE EXERCISES OPTION TO REDEEM $16 MILLION OUTSTANDING BALANCE ON 9-7/8 PERCENT NOTES

 HOUSTON, Oct. 6 /PRNewswire/ -- Colorado Interstate Gas Company (CIG), a subsidiary of The Coastal Corporation (NYSE: CGP), said today that it has exercised an option to redeem fully the outstanding balance of $16 million of privately held 9-7/8 percent notes due Oct. 1, 1998.
 "Today's prepayment announcement emphasizes Coastal's determination to significantly reduce its overall debt level," said David A. Arledge, Coastal's senior executive vice president and chief operating officer. "We have done so primarily through the redemption of higher cost debt."
 CIG is an interstate natural gas pipeline subsidiary of The Coastal Corporation. Coastal has consolidated assets of more than $10 billion and subsidiary operations in natural gas marketing, transmission and storage, petroleum refining and marketing, oil and gas exploration and production, coal, chemicals, trucking and independent power production.
 -0- 10/6/93
 /CONTACT: Steve Eames, 713-877-6733, or W.F. Osterloh, 713-877-6732, both of The Coastal Corporation/
 (CGP)


CO: Colorado Interstate Gas Company ST: Texas IN: OIL SU: OFR

TS -- NY060 -- 9386 10/06/93 13:53 EDT
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Publication:PR Newswire
Date:Oct 6, 1993
Words:170
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