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MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA ANNOUNCES SALE OF BONDS

 ATLANTA, March 4 /PRNewswire/ -- The Municipal Electric Authority of Georgia (MEAG) today sold $520 million in refunding bonds at a net interest cost of 5.48 percent.
 The proceeds from this sale will be used to refund bonds sold by the Authority during 1978-88.
 MEAG President and General Manager Frank Olson characterized the bond sale as "the best we've ever had, and the second largest in the Authority's 16-year history. The savings of more than $66 million in interest costs will have a significant impact on power costs to our participants for the next five years."
 Par amount of the Series Z and 1993A bonds is $521,895,000.00. The bonds were rated AA- by Standard and Poor's Corp., and A1 by Moody's Investors Services.
 The sale, which used a state volume cap allocation of $39.4 million, is scheduled to close on March 29. Managing the underwriting team for these issues were The First Boston Corp. and The Robinson-Humphrey Co. Other members of the group included Interstate/Johnson Lane Corp.; J.P. Morgan Securities Inc.; First Chicago; NationsBank Capital Markets, Inc.; and Trust Company Bank.
 MEAG is the electric power supplier to 47 cities and one county in Georgia which own their own distribution systems.
 -0- 3/4/93
 /CONTACT: Mack Secord of Municipal Electric Authority of Georgia, 404-952-5445/


CO: Municipal Electric Authority of Georgia ST: Georgia IN: UTI SU:

RA-TG -- AT007 -- 3198 03/04/93 17:34 EST
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Publication:PR Newswire
Date:Mar 4, 1993
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