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EPE RECEIVES ONE-DAY EXTENSION OF FUEL OIL TRUST CREDIT FACILITY; CONTINUES TO SEEK INTERIM EXTENSION & EXTENSION AS PART OF RESTRUCTURING

 EPE RECEIVES ONE-DAY EXTENSION OF FUEL OIL TRUST CREDIT FACILITY; CONTINUES TO SEEK INTERIM EXTENSION & EXTENSION AS PART OF RESTRUCTURING
 EL PASO, Texas, Dec. 3 /PRNewswire/ -- El Paso Electric Company (NASDAQ: ELPA) (EPE) announced today that the credit facility to its independent fuel oil trust, which was due to terminate Dec. 2, 1991, was extended for a 24 hour period and will become due and owing on Dec. 3, 1991.
 The company is continuing to seek an interim extension of the credit facility, which would enable the company to continue negotiations with the lender for an extension of the facility through 1993 as part of the company's proposed financial restructuring. As previously announced, to avoid default on the facility, the company must either obtain the interim extension or retire the $5.7 million principal balance, plus accrued interest, on the facility.
 El Paso Electric Company is an electric utility serving approximately 248,000 customers in El Paso, Texas, and the Rio Grande Valley in Texas and New Mexico. The company has a 15.8 percent interest in each of the three 1,270-megawatt nuclear units at the Palo Verde Nuclear Generating Station located near Phoenix, Ariz.
 -0- 12/3/91
 /CONTACT: William J. Johnson of El Paso Electric, 915-543-5843/
 (ELPA) CO: El Paso Electric Co. ST: Texas IN: OIL SU:


TS -- NY011 -- 8601 12/03/91 08:31 EST
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Publication:PR Newswire
Date:Dec 3, 1991
Words:229
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