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Article: San Diego Gas & Electric Successfully Buys Back $130 Million in First Mortgage Bonds
- Article from:
- PR Newswire
- Article date:
- May 13, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN DIEGO, May 13 /PRNewswire/ -- San Diego Gas & Electric (SDG&E), the principal subsidiary of Enova Corporation, successfully concluded its previously announced tender offer to purchase its outstanding taxable First Mortgage Bonds.
The company repurchased $130.1 million, or 73 percent, of the $178 million in outstanding bonds.
The offer, which ran May 1-8, 1998, applied to three series of First Mortgage Bonds: the 7-5/8% series MM, the 9-5/8% series JJ, and the 8-1/2% series LL. The company repurchased $52.1 million, $44.4 million and $33.6 million of these series, respectively. The price paid for the bonds averaged approximately $1,096 per ...