DUKE POWER <DUK> SELLS 10-YEAR MORTGAGE BONDS
Duke Power Co is raising 100 mln dlrs
through an offering of first and refunding mortgage bonds due
1997 yielding 7.663 pct, said lead manager Morgan Stanley.
    Morgan led a syndicate that won the bonds at competitive
bidding. It bid them at 98.403 and set a 7-1/2 pct coupon and
reoffering price of 98.875 to yield 55 basis points more than
comparable Treasury paper.
    Non-refundable for five years, the issue is rated Aa-2 by
Moody's and AA-minus by S and P. On June 12, 1986, the utility
sold 125 mln dlrs of same-rated nine-year securities priced to
yield 8.54 pct, or 58 basis points over Treasuries.
 Reuter
