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DUKE POWER CO. TO REDEEM BONDS; PREFERRED STOCK

 DUKE POWER CO. TO REDEEM BONDS; PREFERRED STOCK
 CHARLOTTE, N.C., Aug. 3 /PRNewswire/ -- Duke Power Co. (NYSE: DUK)


said today that on Sept. 2, the company will redeem its 8 percent Series B of first and refunding mortgage bonds, due September 1999, with a face value of $64.739 million.
 Bondholders will receive $1,017.60 per $1,000 certificate, plus accrued interest to that date. The call notice for the issue was mailed to bondholders Aug. 3 by Morgan Guaranty Trust Co., Trustee, who will serve as redemption agent.
 Duke will use the proceeds from $65 million of 6 1/4 percent 7-year bonds, priced July 29 and closing Aug. 12, to refund the bonds called.
 In a separate action, the company said that on Sept. 16, it will redeem all shares of its 8.70 percent Series F Cumulative Preferred Stock, with an outstanding par value of $60 million. The company will also redeem all shares of its 8.84 percent Series M Cumulative Preferred Stock with an outstanding par value of $40 million.
 Holders of the Series F will receive $101.00 per share and holders of the Series M will receive $103.98 per share -- plus dividends accrued to that date.
 Duke will serve as redemption agent for the preferred stock.
 -0- 8/3/92
 /CONTACT: Randy Wheeless, Duke Power Company, 704-382-8379 or 704-535-8743 (home)/
 (DUK) CO: Duke Power Company ST: North Carolina, South Carolina IN: UTI SU:


JZ -- CH004 -- 6335 08/03/92 16:51 EDT
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Publication:PR Newswire
Date:Aug 3, 1992
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