Printer Friendly

HOUSTON LIGHTING & POWER OFFERS TO PURCHASE BONDS

 HOUSTON LIGHTING & POWER OFFERS TO PURCHASE BONDS
 HOUSTON, March 12 /PRNewswire/ -- Houston Lighting & Power Company


(HL&P) announced today that it is offering to purchase, for cash, any and all of its First Mortgage Bonds, 9-1/4 percent series due Dec. 1, 2008. There are currently $100 million aggregate principal amount of bonds outstanding.
 HL&P will purchase the bonds for $1,010 per $1,000 principal amount plus interest accrued to, but not including, the date of payment. The offer expires at 5 p.m. Houston time on Tuesday, March 31, 1992 unless extended.
 On or before March 30, 1992, HL&P intends to deposit up to $257 million in the replacement fund relating to its first mortgage bonds and to use a portion of these funds in 1992 to redeem, at 100 percent of their principal amount plus accrued interest, all of the bonds that are not tendered and accepted for payment under the offer.
 The offer is conditioned on HL&P having available, on the expiration date, at least $357 million. The offer is not conditioned on any minimum amount of bonds being tendered.
 HL&P is making the offer to purchase these bonds as part of its continuing effort to reduce its interest expense.
 -0- 3/12/92
 /CONTACT: Sandy Brendler of Houston Industries, 713-629-3123/
 (HOU) CO: Houston Lighting & Power Company; Houston Industries Inc. ST: Texas IN: UTI SU: OFR


SM-OS -- NY005 -- 7742 03/12/92 11:37 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 12, 1992
Words:243
Previous Article:FRAUD POSTERS WARN CONSUMERS ABOUT CALLING CARD NUMBER THIEVES
Next Article:PSE&G ANNOUNCES PLAN TO HELP STIMULATE ECONOMIC RECOVERY
Topics:


Related Articles
HOUSTON LIGHTING & POWER REPORTS DIVIDEND
HOUSTON LIGHTING & POWER COMPANY DECLARES DIVIDEND
HOUSTON LIGHTING & POWER OFFERS TO PURCHASE BONDS
INDIANAPOLIS POWER & LIGHT COMPANY ADDED TO DUFF & PHELPS RATING WATCH FAVORABLE/UNFAVORABLE
HOUSTON LIGHTING & POWER OFFERS TO PURCHASE BONDS
CENTRAL AND SOUTH WEST CORPORATION UNIT TO PURCHASE $120,265,000 IN BONDS FROM BONDHOLDERS
DUFF & PHELPS: MISSISSIPPI POWER & LIGHT COMPANY $82.5 MILLION GENERAL AND REFUNDING MORTGAGE BONDS RATED 'BBB'
DUFF & PHELPS: CITY OF PETERSBURG, IND. $54.65 MILLION POLLUTION CONTROL REFUNDING REVENUE BONDS, RATED 'AA'
DUFF & PHELPS: BRAZOS RIVER AUTHORITY BONDS, SERIES 1993 RATED 'AAA'; GULF COAST WASTE DISPOSAL AUTHORITY BONDS, SERIES 1993 RATED 'AAA'

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters