Printer Friendly

HOUSTON LIGHTING & POWER OFFERS TO PURCHASE BONDS

 HOUSTON, April 16 /PRNewswire/ -- Houston Lighting & Power Company (HL&P) announced today that its tender offers announced March 26, 1993, expired at 5 p.m. on Thursday, April 15, 1993, in accordance with their terms. HL&P had offered to purchase any and all of the following series of bonds at the following prices per $1,000 principal amount (plus accrued interest).
 For Each $1,000 Principal The Tendering Holder
 Amount of Bonds Will Receive
 8-1/8 percent Series due 2004 $1,018.21
 8-3/4 percent Series due March 1, 2005 1,013.55
 8-3/8 percent Series due Oct. 1, 2006 1,010.93
 8-3/8 percent Series due Oct. 1, 2007 1,013.53
 HL&P stated that $216,943,000 aggregate principal amount of the bonds (approximately 55 percent of the outstanding principal amount of the bonds) were tendered pursuant to the offers, and that all such bonds have been accepted for payment pursuant to the terms of the offers.
 Accrued interest will be paid to April 20, 1993. The aggregate principal amount of each series tendered and the aggregate principal amount of each series that will be outstanding after April 20, 1993, is as follows:
 Principal Amt. Principal Amt.
 Tendered and Outstanding
 Accepted for After
 Series Payment April 20, 1993
 8-1/8 percent Series due 2004 $45,955,000 $54,045,000
 8-3/4 percent Series due March 1, 2005 24,026,500 18,220,500
 8-3/8 percent Series due Oct. 1, 2006 74,526,500 50,473,500
 8-3/8 percent Series due Oct. 1, 2007 72,435,000 52,565,000
 On March 31, 1993, HL&P deposited approximately $263 million in the replacement fund relating to its first mortgage bonds and expects to use a portion of these funds in May 1993 to redeem, at the special redemption price applicable to each series plus accrued interest, all of the bonds that were not tendered and accepted for payment under the offer. In addition, HL&P expects to redeem other first mortgage bonds subject to special redemption with moneys held in the replacement fund. Special redemption prices for those bonds not tendered and accepted for payment under the offers are as follows:
 Series Special Redemption Price
 8-1/8 percent Series due 2004 101.13 percent
 8-3/4 percent Series due March 1, 2005 100.61
 8-3/8 percent Series due Oct. 1, 2006 100.38
 8-3/8 percent Series due Oct. 1, 2007 100.64
 -0- 4/16/93
 /CONTACT: Sandy Brendler of Houston Industries Incorporated, 713-629-3123/
 (HOU)


CO: Houston Lighting & Power Company ST: Texas IN: UTI SU:

GK-LR -- NY059 -- 6902 04/16/93 15:56 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 16, 1993
Words:445
Previous Article:PAGENET COMPLETES NEW CREDIT AGREEMENT
Next Article:MIDDLESEX COUNTY (N.J.) GENERAL OBLIGATION BONDS RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
Topics:


Related Articles
HOUSTON LIGHTING & POWER OFFERS TO PURCHASE BONDS
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
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: ARKANSAS POWER & LIGHT COMPANY $155 MILLION FIRST MORTGAGE BONDS RATED 'BBB'
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