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GULF STATES UTILITIES CO. CLOSES SALE OF MORTGAGE BONDS

 BEAUMONT, Texas, April 1 /PRNewswire/ -- Gulf States Utilities Co. (NYSE: GSU) today closed the sale of $50 million in first mortgage bonds. The sale was handled by The First Boston Corp. and J.P. Morgan Securities Inc. The 10-year bonds will mature in 2003 and bear a 6.75 percent interest rate.
 GSU expects to use the proceeds, together with funds from other sources, to redeem the entire $60 million of outstanding first mortgage bonds having an interest rate of 8.875 percent on May 1. The company will save about $2 million per year in interest costs as a result of these actions, a company official estimated.
 GSU is a Beaumont-based utility serving more than 589,000 customers along the Gulf Coast between Houston and New Orleans.
 -0- 04/01/93
 /CONTACT: Sharon Englade of Gulf States Utilis? Company, 409-839-2814/
 (GSU)


CO: Gulf States Utilities Co. ST: Texas IN: UTI SU:

AH -- NY065 -- 2033 04/01/93 12:38 EST
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Publication:PR Newswire
Date:Apr 1, 1993
Words:161
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