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SDG&E SELLS $118.6 MILLION OF REFUNDING BONDS

 SDG&E SELLS $118.6 MILLION OF REFUNDING BONDS
 SAN DIEGO, Sept. 24 /PRNewswire/ -- San Diego Gas & Electric


(NYSE: SDO) today sold $118.6 million of tax-exempt industrial development bonds, issued through the city of San Diego.
 The bonds were sold to refund outstanding bonds to be purchased by the company resulting from the successful tender program completed earlier this week.
 The bonds were sold with a true interest cost of 6.419 percent, with maturities in 2018 and 2019, at interest rates of 6.40 percent and 6.10 percent, respectively. Interest payments will be semi- annually on March 1 and Sept. 1 of each year, commencing on March 1, 1993. The bonds are optionally callable in 10 years at 102 percent.
 The bonds are rated Aa3 by Moody's Investor's Service Inc., and A+ by Standard & Poor's Corp.
 The bonds were purchased through a negotiated sale managed by Goldman, Sachs & Co, Bear, Stearns & Co., Girard Securities and Grisgby Brandford & Co.
 -0- 9/24/92
 /CONTACT: Gretchen Griswold of SDG&E, 619-696-4309/
 (SDO) CO: San Diego Gas & Electric ST: California IN: UTI SU:


BP-EH -- SD005 -- 3334 09/24/92 17:49 EDT
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Publication:PR Newswire
Date:Sep 24, 1992
Words:192
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