SAN DIEGO GAS & ELECTRIC CO. SELLS FIRST MORTGAGE BONDS
SAN DIEGO GAS & ELECTRIC CO. SELLS FIRST MORTGAGE BONDS SAN DIEGO, March 19 /PRNewswire/ -- San Diego Gas & Electric Co.
(NYSE: SDO) today sold $60 million of 30-year first mortgage bonds.
The bonds were sold at 98.357 percent and carry an interest rate of 8.5 percent for a cost to the company of 8.65 percent. The price to the public is 98.824 percent to yield 8.61 percent. Interest is payable April 1 and Oct. 1 each year, commencing Oct. 1, 1992. The bonds are callable after 10 years. The bonds are rated AA3 by Moody's Investors Service Inc. and A+ by Standard & Poor's Corp. Donaldson, Lufkin & Jenrette Securities Corp. and W.R. Lazard, Laidlaw & Mead Inc. were selected to manage the issue through competitive bid. The proceeds of the bonds will be used to finance general corporate needs. -0- 3/19/92 /CONTACT: Gretchen Griswold of San Diego Gas & Electric, 619-696-4309/ (SDO) CO: San Diego Gas & Electric Co. ST: California IN: UTI SU:
DM-KJ -- SD009 -- 9908 03/19/92 18:01 EST
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|Date:||Mar 19, 1992|
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