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SOUTHERN CALIFORNIA GAS CO. TO TENDER FOR 9 3/4 PERCENT FIRST MORTGAGE BONDS

 LOS ANGELES, Nov. 3 /PRNewswire/ -- Southern California Gas Co., a unit of Los Angeles-based Pacific Enterprises (NYSE: PET), today said it is offering to purchase through Goldman, Sachs & Co., any and all of its outstanding 9 3/4 Percent First Mortgage Bonds, Series X, due 2020, with a face value of $120 million upon the terms and subject to the conditions set forth in its offer to purchase. Goldman Sachs will serve as the exclusive dealer manager of the offering.
 The purchase price for a bond will be determined by using a yield to maturity of the U.S. Treasury 5 1/8 Percent Notes due Nov. 15, 1995, at the time the holder accepts the offer, plus a fixed spread of 0.15 percent (15 basis points). In addition, SoCalGas will pay accrued interest on such bonds to, but not including, the date of the settlement.
 Bondholders may obtain a quote of the purchase price for the bonds at a particular time by contacting their Goldman Sachs sales representative or by calling 800-828-3182.
 The offer to purchase expires at 5 p.m. EST, Nov. 10, 1993, unless extended by SoCalGas or earlier terminated. The date of the settlement will be five business days after the date of each acceptance.
 Georgeson & Company Inc. will act as information agent for SoCalGas in connection with the offer to purchase.
 -0- 10/3/93
 /CONTACT: Vicki Cho Estrada of The Gas Company, 213-244-3030/
 (PET)


CO: Southern California Gas Co.; Pacific Enterprises ST: California IN: UTI SU:

NY-LS -- LA004 -- 9966 11/03/93 08:33 EST
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Publication:PR Newswire
Date:Nov 3, 1993
Words:262
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