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SOUTHEASTERN MICHIGAN GAS ENTERPRISES COMPLETES DEBENTURE OFFERING

 SOUTHEASTERN MICHIGAN GAS ENTERPRISES COMPLETES DEBENTURE OFFERING
 PORT HURON, Mich., April 8 /PRNewswire/ -- Southeastern Michigan Gas Enterprises, Inc. (NASDAQ: SMGS) announced the completion of its public offering of 8 5/8 percent debentures due 2017. The amount of the offering, originally set at $17.5 million, was increased to $25 million on April 1 due to favorable market conditions and strong demand from investors. Proceeds from the offering will be used to reduce short-term notes payable. On April 1, 1992, the company utilized short-term debt to redeem $14,899,000 of 11 1/2 percent debentures which were redeemed by the company on April 1, 1992.
 Underwriters for the new debenture issue are Edward D. Jones & Co. and First of Michigan Corporation.
 Enterprises is the parent company of six wholly owned subsidiaries: Southeastern Michigan Gas Company (Port Huron); Battle Creek Gas Company (Battle Creek); Michigan Gas Company (Three Rivers); Southeastern Development Company (Port Huron); Southeastern Financial Services, Inc. (Port Huron); and SEMCO Energy Services, Inc. (Port Huron).
 Enterprises serves natural gas to approximately 200,000 customers in 23 counties in Michigan through its subsidiaries Southeastern Michigan Gas Company, Battle Creek Gas Company and Michigan Gas Company.
 -0- 4/8/92
 /CONTACT: Allan E. Peattie, manager, investor relations, Southeastern Michigan Gas Enterprises, Inc., 313-987-2200/
 (SMGS) CO: Southeastern Michigan Gas Enterprises, Inc. ST: Michigan IN: UTI OIL SU: OFR


JG -- DE030 -- 6416 04/08/92 16:27 EDT
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Publication:PR Newswire
Date:Apr 8, 1992
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