Baltimore Gas and Electric Co. said yesterday that it will redeem $33 million worth of mortgage bonds next month.
The move is the latest of a series of financial maneuvers by the Baltimore-area utility in the past year. Company spokesman Arthur J. Slusark said BG&E hasn't decided whether to take advantage of lower interest rates to replace the bonds with less expensive debt or just keep the long-term debt off its books.
BG&E's assistant treasurer, Thomas E. Ruszin, said that about a thousand investors are believed to hold the affected bonds. He said investors will not be able to trade the bonds after Sept. 28; after that date, they can only be turned over to BG&E for repayment.