Printer Friendly

OHIO POWER TO REDEEM BONDS

 OHIO POWER TO REDEEM BONDS
 CANTON, Ohio, March 26 /PRNewswire/ -- Ohio Power Company today


announced that it will redeem on May 1 the entire $47,000,000 outstanding of its 10 percent first mortgage bonds due 2006.
 The company will redeem $118,000 principal amount of the 10 percent Series at 103.34 percent of the principal amount of the bonds, to be paid upon presentation. This redemption is in accordance with the terms of the mortgage under which the bonds were issued, which permit the company to redeem bonds prior to maturity. Transfer books for the series will be closed today to allow for selection of the bonds to be redeemed at this premium.
 The company will also redeem the remaining outstanding $46,882,000 principal amount of the 10 percent Series at 100 percent of the principal amount of the bonds, to be paid upon presentation. This redemption is in accordance with the terms of the mortgage under which the bonds were issued, which permit the company to redeem the bonds with certain funds deposited with the trustee under the mortgage.
 Interest payable on the bonds on May 1 will be paid by check to the bondholders in the usual manner.
 The notices of redemption are expected to be mailed to holders of record on or before March 31, 1992. Manufacturers Hanover Trust Company, New York, is the redemption agent and trustee.
 Ohio Power is one of seven operating companies of American Electric Power Co., Inc. (NYSE: AEP). Ohio Power, headquartered in Canton, Ohio, provides service to approximately 646,000 customers.
 -0- 3/26/92
 /CONTACT: Michael L. Mahoney of American Electric Power, 614-223-1674/ CO: Ohio Power Company ST: Ohio IN: UTI SU:


LC -- CL010 -- 1902 03/26/92 10:54 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 26, 1992
Words:294
Previous Article:BURLINGTON INDUSTRIES EQUITY INC. ANNOUNCES COMPLETION OF IPO
Next Article:GTE DIRECTORIES DISTRIBUTES MOST COLORFUL PHONE BOOK IN ALASKA HISTORY TO FAIRBANKS RESIDENTS THROUGH APRIL 6
Topics:


Related Articles
OHIO POWER TO REDEEM SECURITIES
OHIO POWER TO REDEEM BONDS
OHIO POWER TO REDEEM BONDS
OHIO POWER TO REDEEM BONDS
COLUMBUS SOUTHERN POWER TO REDEEM BONDS
OHIO POWER TO REDEEM BONDS
OHIO POWER TO REDEEM BONDS
OHIO POWER TO REDEEM BONDS
OHIO POWER TO REDEEM BONDS
OHIO POWER TO REDEEM BONDS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters