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HOUSTON LIGHTING & POWER OFFERS TO PURCHASE BONDS

 HOUSTON, March 26 /PRNewswire/ -- Houston Lighting & Power Company (HL&P) announced today that it is offering to purchase, for cash, any and all of the following series of its First Mortgage Bonds, at the following price per $1,000 principal amount plus interest accrued to, but not including, the date of payment.
 For Each $1000 Principal The Tendering Holder
 Amount of Bonds Will Receive
 8 1/8 pct. Series due 2004 $1018.21
 8 3/4 pct. Series due March 1, 2005 $1013.55
 8 3/8 pct. Series due October 1, 2006 $1010.93
 8 3/8 pct. Series due October 1, 2007 $1013.53
 The tender offers apply to $392.247 million aggregate principal amount of bonds.
 On or before March 31, 1993, HL&P intends to deposit approximately $263 million in the replacement fund relating to its first mortgage bonds and use such funds to redeem, at the special redemption price applicable to each series plus accrued interest, up to $263 million aggregate principal amount of the bonds that are not tendered and accepted for payment under the offers. Special redemption prices are as follows:
 Series Special Redemption Price
 8 1/8 pct. Series due 2004 101.13 pct.
 8 3/4 pct. Series due March 1, 2005 100.61 pct.
 8 3/8 pct. Series due October 1, 2006 100.38 pct.
 8 3/8 pct. Series due October 1, 2007 100.64 pct.
 The tender offers expire at 5:00 p.m. Houston time on Thursday, April 15, 1993, unless extended.
 The offers are conditioned on HL&P having available on the expiration date at least $400 million for the purchase of bonds. The offers are not conditioned on any minimum amount of bonds being tendered.
 HL&P is making the offers to purchase these bonds as part of its continuing effort to reduce its interest expense.
 The Information Agent is Morrow & Co., Inc.
 -0- 3/26/93
 /CONTACT: Sandy Brendler, 713-629-3123, for Houston Lighting & Power/
 (HOU)


CO: Houston Lighting & Power ST: Texas IN: OIL SU: OFR

LD -- NY007 -- 9925 03/26/93 08:00 EST
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Publication:PR Newswire
Date:Mar 26, 1993
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