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HOUSTON LIGHTING & POWER OFFERS TO PURCHASE BONDS

 HOUSTON LIGHTING & POWER OFFERS TO PURCHASE BONDS
 HOUSTON, Sept. 28 /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, 10-1/4 percent series due Feb. 1, 2019. There are currently $225 million aggregate principal amount of bonds outstanding.
 HL&P will purchase the bonds for $1,091.25 per $1,000 principal amount plus accrued interest to and including the second New York Stock Exchange trading day after expiration of the offer. Payment for bonds tendered on or prior to the expiration date of the offer will be made in next day funds on such date. The offer expires at 5 p.m. Houston time on Tuesday, Oct. 6, 1992, unless extended.
 HL&P intends to redeem on Oct. 28, 1992, at a price of 108.47 percent of their principal amount, plus accrued interest thereon to that date, all of the bonds that are not tendered and accepted for payment pursuant to the offer. Because the redemption price is less than the purchase price payable pursuant to the offer, failure to tender bonds may result in monetary loss to holders of bonds.
 Goldman, Sachs & Co. will act as dealer manager for the tender offer. The information agent is Morrow & Co., Inc.
 HL&P is making the offer to purchase these bonds as part of its continuing effort to reduce its interest expense.
 -0- 9/28/92
 /CONTACT: Sandy Brendler of HL&P, 713-629-3123/
 (HOU) CO: Houston Lighting & Power Company ST: Texas IN: UTI SU:


GK-TS -- NY009 -- 3818 09/28/92 08:25 EDT
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Publication:PR Newswire
Date:Sep 28, 1992
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