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GULF STATES UTILITIES COMPANY COMPLETES NEGOTIATIONS FOR PUBLIC OFFERING

 BEAUMONT, Texas, March 23 /PRNewswire/ -- Gulf States Utilities Co. has completed negotiations for the public offering of $50 million in first mortgage bonds. The bonds are being offered by The First Boston Corp. and J.P. Morgan Securities Inc.
 The underwriters are offering the 10-year bonds to the public at a 6.75 percent interest rate, priced at 99.564 percent of the principal amount to yield 6.81 percent.
 Proceeds from the sale, together with funds from other sources, will be used to redeem $60 million of outstanding first mortgage bonds with an interest rate of 8.875 percent. Gulf States will save about $2 million per year in interest costs with the new bonds, a company official estimated.
 GSU is a Beaumont, Texas-based utility serving more than 589,000 customers along the Gulf Coast between Houston and New Orleans.
 -0- 3/23/93
 /CONTACT: Sharon Englade of Gulf States Utilities Company, 409-839-2814/
 (GSU)


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

TM -- NY073 -- 8805 03/23/93 16:10 EST
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Publication:PR Newswire
Date:Mar 23, 1993
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