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SPS ANNOUNCES OFFERING OF $175 MILLION IN BONDS

SPS ANNOUNCES OFFERING OF $175 MILLION IN BONDS
 AMARILLO, Texas, July 7 /PRNewswire/ -- Southwestern Public Service Company (NYSE: SPS) today announced the underwritten public offering of $135 million of First Mortgage Bonds, 7-1/4 percent Series due 2004, and $40 million of First Mortgage Bonds, 8-1/4 percent Series due 2022. The bonds are part of a $200 million shelf registration filed with the Securities and Exchange Commission in June 1992.
 Net proceeds from the sale of the new bonds will be used to refund the entire principal amounts of the following First Mortgage Bonds, which will be called for redemption on August 10, 1992:
 -- $45 million principal amount of the 8.80 percent Series due 2005, at 103.65 percent;
 -- $40 million principal amount of the 8-7/8 percent Series due 2006, at 103.75 percent;
 -- $45 million principal amount of the 8-3/4 percent Series due 2008, at 104.53 percent;
 -- $35 million principal amount of the 9.85 percent Series due 2017, at 107.388 percent.
 Dillon, Read & Co. Inc. is managing underwriter of the bond offerings.
 Southwestern Public Service Company primarily provides electric service to a population of more than one million in a 52,000-square-mile area of eastern and southeastern New Mexico, the South Plains and Panhandle of Texas, the Oklahoma Panhandle and southwestern Kansas. Corporate headquarters is in Amarillo, Texas.
 -0- 07/07/92
 CONTACT: Doyle R. Bunch II, executive vice president and chief financial officer of Southwestern Public Service, 806-378-2840
 (SPS) CO: SOUTHWESTERN PUBLIC SERVICE COMPANY IN: UTI ST: TX -- NY057 -- X792 07/07/92
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jul 7, 1992
Words:262
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