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March 19, 1987

NEW ISSUES, CONVERSIONS & REDEMPTIONS

By CBR Staff Writer

AT&T Co is to spend $809m to redeem 15.5m of its 16.7m preference shares to reduce its servicing costs – $50m a year in dividends. The redemption is to be made on May 1, and will bring to $2,500m the reduction in the debt the company has to service since it began a redemption plan last year.

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