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MASSACHUSETTS ELECTRIC COMPANY; REDEMPTION OF MASSACHUSETTS ELECTRIC COMPANY BONDS

 WESTBOROUGH, Mass., July 1 /PRNewswire/ -- Massachusetts Electric Company (Mass. Electric) has directed State Street Bank and Trust Company, Trustee under its First Mortgage Indenture, to redeem on Aug. 1, 1993 the entire amount outstanding of its First Mortgage Bonds, Series R, 89-1, 9-3/4 percent, due 2019. Forty-seven million dollars of the bonds will be called at the general redemption price of 107.6 percent of their principal amount. The funds for this redemption will come from a capital contribution being made by Mass. Electric's parent, New England Electric System (NYSE: NES). The remaining $1.5 million of bonds will be retired through sinking fund operations at 100 percent of their principal amount.
 Mass. Electric serves about 900,000 customers in 146 Massachusetts communities.
 -0- 7/1/93
 /CONTACT: Michael E. Jesanis of New England Electric System, 508-366-9011 (days), 508-849-7626 (evenings)/
 (NES)


CO: Massachusetts Electric Company; New England Electric Systems ST: Massachusetts IN: OIL SU: RTG

DJ -- NE005 -- 7655 07/01/93 11:07 EDT
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Publication:PR Newswire
Date:Jul 1, 1993
Words:165
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