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NEW ENGLAND POWER COMPANY AWARDS GENERAL AND REFUNDING MORTGAGE BONDS

NEW ENGLAND POWER COMPANY AWARDS GENERAL AND REFUNDING MORTGAGE BONDS
 WESTBOROUGH, Mass., Aug. 18 /PRNewswire/ -- New England Power Company, a subsidiary of New England Electric System (NYSE: NES), today awarded, after competitive bidding, a $170,000,000 issue of General and Refunding Mortgage Bonds, Series U, 8 percent, due 2022, at a price of 98.761 to Goldman, Sachs & Co.
 Cost of money to the company for the Series U Bonds is 8.11 percent and the bonds will be non-callable prior to Aug. 1, 2002.
 The proceeds of the bonds will be used by the company to redeem outstanding bonds and to reimburse the treasury for prior bond redemptions.
 These are the first General and Refunding Mortgage Bonds issued by the company to the public since 1986.
 -0- 8/18/92
 /CONTACT: Linwood B. Stockwell of New England Electric System, 508-366-9011 (days), 508-366-8794 (evenings)/
 (NES) CO: New England Electric System ST: Massachusetts IN: UTI SU: OFR


CH -- NE010 -- 0945 08/18/92 12:11 EDT
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Publication:PR Newswire
Date:Aug 18, 1992
Words:166
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