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Centel To
Sell Bonds
Central Telephone Company of Virginia has filed a registration statement with the Securities and Exchange Commission for the public sale of $25 milHBn of 30-year, Series U, first mortgage sinking fund bonds.
The Central Telephone & Utilities Corporation subsidiary said the proceeds will be used to repay short-term debt incurred to finance construction and refund maturing debt.
The company also said it may increase the offering by up to $23 million to retire borrowings to be incurred under its pending tender offer for outstanding 10.20 per cent Series T bonds. The tender was announced August 9, 1977.
Sale of the new debt securities will be co-managed by Dean Witter & Company, Incorporated, and Bache Halsey Stuart Shields, Incorporated.
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