More than $4 billion of new debt, including a $1 billion global bond offering, was priced between Tuesday evening and late yesterday. syndicate desk sources confirmed.

Matsushita Electric Industrial Co. issued $1 billion of global bonds due 2002.

U.S. investors bought about 40% of the bonds, with another 40% sold in Europe and 20% sold in the Far East, according to an underwriting source who was "delighted" with the deal's reception. The offering was over-subscribed, but the company decided against increasing it, he said.

"The company didn't need more money," he said.

The 7.25% bonds were priced at 99.32 to yield 7.34%, or 41 basis points over comparable Treasuries. That falls at the low end of the 41- to 43-basis-point spread the deal was launched at. Matsushita's offering was launched at 11 a.m. Tuesday and priced at about 9 a.m. yesterday, the source said.

Lehman Brothers International and CS First Boston Ltd. lead managed the offering.

Grand Union Co.'s deal proved grander than expected, as the offering grew to $850 million from $800 million.

The issue's first tranche consisted of $500 million of senior 12.25% subordinated notes due 2002 at par. They are callable at a premium after five years. Moody's Investors Services rates the notes B3, while Standard & Poor's Corp. rates them B-minus.

The second tranche consisted of $350 million of 11.25% senior notes due 2000 at par. The notes are callable at a premium after five years. Moody's rates the offering B2, while Standard & Poor's rates it B-plus. Goldman, Sachs & Co. lead managed the offering.

Late Tuesday, Long Island Lighting Co. issued $817 million of debentures, not $820 million as reported here earlier. Most of the offering's proceeds will be used to finance tender offers for some of the company's existing debt, according to a Lilco release.

"This refinancing will save the company and its customers $10 million per year in interest expense," Joseph W. McDonnell, Lilco's vice president of External Affairs, was quoted as saying in the release.

Texaco Capital issued a two-part offering totaling $400 million. The first piece consisted of $200 million of 6.875% notes due 1999. The noncallable notes were priced at 99.806 to yield 6.91% or 50 basis points over comparable Treasuries. The second tranche consisted of $200 million of 8.375% debentures due 2022. Noncallable for 10 years, the debentures were priced at 98.969 to yield 8.47% or 80 basis points over comparable Treasuries. Moody's rates the offering A1, while Standard & Poor's rates it A-plus. First Boston Corp. managed the offering.

Pittsburgh National Bank issued $400 million of 3.96% senior bank notes due July 22, 1993. The non-callable notes were priced initially at par to yield 17 basis points over comparable Treasuries. Moody's rates the offering Aa3, while Standard & Poor's rates it A-plus. Merrill Lynch & Co. managed the offering.

Federal Home Loan Mortgage Corp. issued $100 million of 5% step-up notes due 2002. The notes were priced initially at par. Noncallable for a year, the notes step up to 7 3/4% on July 22, 1993. Goldman Sachs lead managed the offering.

Philadelphia Electric issued $100 million of 7.5% first and refunding mortgage bonds due 2002. The noncallable bonds were priced at 99.761 to yield 7.534%, or 60 basis points over comparable Treasuries. Moody's rates the offering Baa 1, while Standard & Poor's rates it BBB-plus. First Boston Corp. led a group that won competitive bidding to underwrite the offering.

Meridian Bank issued $100 million of 7.875% subordinated debentures due 2002. The noncallable debentures were priced at 99.697 to yield 7.919%, or 100 basis points over comparable Treasuries. Moody's rates the offering Baa 1, while Standard & Poor's rates it BBB. First Boston Corp. managed the offering.

Mitchell Energy & Development issued $100 million of 8% notes due 1999. The noncallable notes were priced at par to yield 162.5 basis points over comparable Treasuries. Moody's rates the offering Ba 1, while Standard & Poor's rates it BBB-minus. First Boston Corp. managed the offering.

Republic National Bank issued $100 million of 4.9% senior bank notes due 1995. The noncallable notes were priced at 99.93 to yield 4.925%, or 24 basis points over comparable Treasuries. Moody's rates the offering Aa1, while Standard & Poor's rates it AA. Merrill Lynch managed the offering.

Louisiana Power & Light issued $90 million of 8.50% first mortgage bonds due 2022. Nonrefundable for five years, the bonds were priced at 98.91 to yield 8.601%, or 93 basis points over comparable Treasuries. Moody's rates the offering Baa2, while Standard & Poor's rates it BBB-plus. Morgan Stanley & Co. lead managed the offering.

Otter Tail Power issued a two-part first mortgage bond offering totaling $50 million. The first tranche consisted of $20 million of 7.25% bonds due 2002. The noncallable bonds were priced at 99.516 to yield 7.319%, or 40 basis points over comparable Treasuries. The second consisted of $30 million of 8.25% bonds due 2022. Noncallable for 10 years, the bonds were priced at 99.231 to yield 8.32%, or 65 basis points over comparable Treasuries. Moody's rates the offering Aa3, while Standard & Poor's rates it AA-minus. Smith Barney, Harris Upham & Co. managed the offering.

Elsewhere, Pacific Bell yesterday said effective Aug. 14, it is calling all its outstanding 9 3/4% debentures due 2019. The company said $300 million of those 40-year debentures are outstanding. The redemption price for the debentures, issued in the name of the Pacific Telephone and Telegraph Co., will be 106.13% of the principal amount.

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