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CP&L PLANS TO ISSUE FIRST MORTGAGE BONDS

 RALEIGH, N.C., Aug. 18 /PRNewswire/ -- Carolina Power & Light Co. (NYSE: CPL) plans to issue $100 million in 30-year First Mortgage Bonds at an annual interest rate of 6.875 percent. The bonds are callable after 10 years.
 The bonds, rated "A+" by Duff & Phelps, "A2" by Moody's Investors Service and "A" by Standard & Poor's Corp., will be issued on Aug. 26, 1993, with interest accruing from Aug. 15, 1993. Kidder, Peabody & Co. will underwrite the bonds.
 CP&L will use the proceeds for repayment of short-term debt and other corporate purposes. Based in Raleigh, N.C., CP&L serves approximately 1 million customers in central and eastern North Carolina, an area around Asheville in western North Carolina and the Pee Dee region of South Carolina.
 -0- 8/18/93
 /CONTACT: Wade Pridgen, Carolina Power & Light Co., 919-546-6189 (24-Hour Media Line)/
 (CPL)


CO: Carolina Power & Light Co. ST: North Carolina, South Carolina IN: UTI SU:

SB -- CH008 -- 4060 08/18/93 16:47 EDT
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Publication:PR Newswire
Date:Aug 18, 1993
Words:164
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