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SFP PIPELINE HOLDINGS INC. ANNOUNCES QUARTERLY PAYMENT

 LOS ANGELES, April 22 /PRNewswire/ -- SPF Pipeline Holdings Inc. (NYSE: SFLH) will make a quarterly interest payment of approximately $26.047 per $1,000 face amount of its variable rate exchangeable debentures due 2010. The interest will be paid on May 14, to debenture holders of record as of April 30. Based on the $1,000 face amount of the debentures, the annualized interest rate associated with the payment is 10.42 percent. Based on the current market price, the yield is 8.47 percent.
 Irvin Toole Jr., chairman, president and chief executive officer of SFP Pipeline Holdings Inc., stated that the interest payment is equal to the first quarter cash distribution of $.70 per unit on the common units of Santa Fe Pacific Pipeline Partners L.P. (the "partnership") for which each debenture is exchangeable. Each $1,000 face amount of debentures is exchangeable under certain circumstances for approximately 37.2093 partnership units.
 -0- 4/22/93
 /CONTACT: Thomas L. Lambert, manager of investor relations of SFP Pipeline Holdings, 213-486-7766/
 (SFLH)


CO: SFP Pipeline Holdings Inc. ST: California IN: OIL SU: DIV

JL-MS -- LA046 -- 9752 04/22/93 16:58 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
Words:192
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