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An excerpt from Cincinnati Gas & Electric Company's prospectus for the 10% First Mortgage Bonds due in 2020 states, The Offered Bonds are redeemable (though

An excerpt from Cincinnati Gas & Electric Company's prospectus for the 10% First Mortgage Bonds due in 2020 states, The Offered Bonds are redeemable (though CG&E does not contemplate doing so) prior to May 1, 1995 through the use of earnings, proceeds from the sale of equity securities and cash accumulations other than those resulting from a refunding operation such as hereinafter described. The Offered Bonds are not redeemable prior to May 1, 1995 as a part of, or in anticipation of, any refunding operation involving the incurring of indebtedness by CG&E having an effective interest cost (calculated to the second decimal place in accordance with generally accepted financial practice) of less than the effective interest cost of the Offered Bonds (similarly calculated) or through the operation of the Maintenance and Replacement Fund. What does this excerpt tell the investor about provisions of this issuer to pay off this issue prior to the stated maturity date?

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