Nicor Gas Mortgage Bond Sale Announced

May 18, 2001
Naperville, Ill. – Nicor Gas today announced the sale of $50 million of 15-year, 7.2 percent callable first mortgage bonds due May 15, 2016 through Wachovia Securities, Inc. The sale represents an annual cost to Nicor Gas of 7.31 percent.

The net proceeds from the sale of the new bonds will be used to replenish corporate funds used to redeem previously outstanding First Mortgage Bonds.

Nicor Gas is one of the nation's largest gas distribution companies and is the principal subsidiary of Nicor Inc., a holding company. Other energy-related affiliates and subsidiaries of Nicor include Nicor Energy, Nicor Technologies, Nicor Solutions, Nicor Hub Services, Nicor Natural Gas Vehicles and Nicor Services. Nicor also owns Tropical Shipping, a containerized shipping business, which operates between Florida and the Caribbean region.