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SOUTHERN CALIFORNIA EDISON SELLS THREE-YEAR BONDS AND PERPETUAL PREFERRED STOCK

 SOUTHERN CALIFORNIA EDISON SELLS THREE-YEAR BONDS
 AND PERPETUAL PREFERRED STOCK
 ROSEMEAD, Calif., Jan. 21 /PRNewswire/ -- Southern California Edison Co. today sold $200 million of three-year first and refunding mortgage bonds, Series 92A due 1995, and $100 million of $25 par value perpetual cumulative preferred stock, 7.36 percent series.
 The company will use the proceeds from the financings for the redemption, repayment or retirement of outstanding indebtedness, the financing of construction expenditures or other general corporate purposes.
 The bonds were sold to a group of underwriters led by Morgan Stanley and were priced at 99.8493 percent of the principal amount with a 5.55 percent coupon, which results in a 5.605 percent annual cost to the company.
 Morgan Stanley's offer was the lowest cost of money among the three competing bids received. The bonds are expected to be offered to the public by the underwriters at 100 percent of the principal amount, to yield 5.55 percent.
 The preferred stock was sold to a group of underwriters led by Kidder Peabody, and was priced at $24.25 per share with an annual dividend of $1.84, resulting in an annual cost to the company of 7.5876 percent. Kidder's offer was the lowest cost of money of the three competing bids. The stock will be offered to the public by the underwriters at par, to yield 7.36 percent.
 These offerings are being made only through prospectuses, which may be obtained from the underwriters.
 -0- 1/21/92
 /CONTACT: Bob Goodlow of Southern California Edison, 818-302-2255/ CO: Southern California Edison Co. ST: California IN: UTI SU:


KJ -- LA028 -- 2165 01/21/92 19:51 EST
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Publication:PR Newswire
Date:Jan 21, 1992
Words:277
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