Public Service Electric and Gas Company Plans Redemption of First Mortgage Bonds
May 24 2004 - 11:38AM
PR Newswire (US)
Public Service Electric and Gas Company Plans Redemption of First
Mortgage Bonds NEWARK, N.J., May 24 /PRNewswire-FirstCall/ --
Public Service Electric and Gas Company (PSE&G) has announced
that it will redeem on June 23, 2004 the outstanding $159,000,000
of the Company's 7.375% Series TT First and Refunding Mortgage
Bonds due 2014, at a price of 102.13% of principal amount plus
accrued and unpaid interest. The redemption agent for the issue is
Wachovia Bank. PSE&G is a subsidiary of Public Service
Enterprise Group, a diversified energy holding company, with
headquarters in Newark, New Jersey. FORWARD-LOOKING STATEMENT
Readers are cautioned that statements contained in this press
release about our and our subsidiaries' future performance,
including future revenues, earnings, strategies, prospects and all
other statements that are not purely historical, are
forward-looking statements for purposes of the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. Although we believe that our expectations are based on
reasonable assumptions, we can give no assurance they will be
achieved. The results or events predicted in these statements may
differ materially from actual results or events. Factors which
could cause results or events to differ from current expectations
include, among other things: the effects of weather; the
performance of generating units and transmission systems; the
availability and prices for oil, gas, coal, nuclear fuel, capacity
and electricity; changes in the markets for electricity and other
energy-related commodities; changes in the number of participants
and the risk profile of such participants in the energy marketing
and trading business; the effectiveness of our risk management and
internal controls systems; the effects of regulatory decisions and
changes in law; changes in competition in the markets we serve; the
ability to recover regulatory assets and other potential stranded
costs; the outcomes of litigation and regulatory proceedings or
inquiries; the timing and success of efforts to develop domestic
and international power projects; conditions of the capital markets
and equity markets; advances in technology; changes in accounting
standards; changes in interest rates and in financial and foreign
currency markets generally; the economic and political climate and
growth in the areas in which we conduct our activities; and changes
in corporate strategies. For further information, please refer to
our Annual Report on Form 10-K and subsequent reports on Form 10-Q
and Form 8-K filed with the Securities and Exchange Commission.
These documents address in further detail our business, industry
issues and other factors that could cause actual results to differ
materially from those indicated in this release. In addition, any
forward-looking statements included herein represent our estimates
only as of today and should not be relied upon as representing our
estimates as of any subsequent date. While we may elect to update
forward-looking statements from time to time, we specifically
disclaim any obligation to do so, even if our estimates change,
unless otherwise required by applicable securities laws. Group
DATASOURCE: Public Service Electric and Gas Company; Public Service
Enterprise CONTACT: Leslie Cifelli, +1-973-430-3809, for Public
Service Electric and Gas Company Web site: http://www.pseg.com/
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