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May 5, 1994

SHARE & BOND ISSUES

By CBR Staff Writer

Century Telephone Enterprises Inc, Monroe, Louisiana is to raise $148m net with an offer of $50m of 7.75% senior notes, Series A, due 2004 and $100m of 8.25% senior notes, Series B Due 2024, the Series A Notes priced to yield 7.757% to maturity, and the Series B to yield 8.342% to maturity. The net proceeds will be used to repay a $90m bridge loan incurred in the recently completed acquisition of Cellutel Inc, and to reduce Century’s short-term bank debt. The Series A Notes will be nonredeemable, and the Series B notes will be subject to redemption after 10 years. The lead underwriter for the public offering will be PaineWebber Inc.

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