TEXAS EASTERN <TET> UNIT TO REDEEM DEBENTURES
Texas Eastern Transmission Corp, a unit
of Texas Eastern Corp, said it plans to redeem on April 30 its
outstanding 100 mln dlrs of 13 pct debentures due 2009 and 100
mln dlrs of 12-3/4 pct debentures of 2008.
    It will buy back the 13 pct issue at 111.70 pct of the
principal amount, plus accrued interest. It will redeem the
12-3/4s at 110.52 pct of principal plus accrued interest.
    The unit will use part of the proceeds from the recent sale
of units of Petrolane Partners L.P. to finance the early
redemptions.
 Reuter
