KANSAS CITY, Mo., May 11, 2007 (PRIME NEWSWIRE) -- Aquila, Inc. (NYSE:ILA) today announced its election to redeem $344 million in aggregate principal amount of its debt securities outstanding. The securities to be redeemed in full by the company, and certain terms applicable to the redemptions, are described in the table below.
Principal
Amount Redemption Redemption
Securities CUSIP No. Outstanding Price* Date
----------- --------- ----------- ---------- ----------
Aquila
7.875%
Quarterly
Interest
Bonds due
March 1, 2032 03840P300 $287,500,000 Par ($25) June 15, 2007
Aquila
8.00%
Senior
Notes due
March 1, 2023 918005AG4 $51,500,000 102.251% June 15, 2007
Aquila
9.00%
Senior
Notes due
November 15,
2021 918005AE9 $5,000,000 102.013% June 15, 2007
* For each series of securities to be redeemed, the redemption price
will include any accrued and unpaid interest to the redemption
date.
The company's 7.875% Quarterly Interest Bonds due March 1, 2032 (QUIBs) are listed on the New York Stock Exchange under the symbol "ILD." In connection with this redemption, the QUIBs will be de-listed from the New York Stock Exchange. The company expects the trading of the QUIBs to be suspended as a result of this announcement, in accordance with New York Stock Exchange listing rules applicable to the full redemption of listed securities.
Union Bank of California, N.A. is the trustee under the indentures pursuant to which each series of debt securities were issued. Union Bank of California, N.A., which will serve as redemption and paying agent, will provide the necessary notices of redemption to the holders of the securities to be redeemed. Holders of the securities described above may direct questions to Union Bank of California, N.A., 120 South San Pedro Street, 4th Floor, Los Angeles, CA 90012, attention Lorraine McIntire at (213) 972-5675, or their New York City office at 551 Madison Avenue, 11th Floor, New York, NY 10022, attention Valerie Crain.
Aquila provides power to approximately 300,000 customers in Missouri. The company serves approximately 600,000 electric and natural gas customers in Colorado, Iowa, Kansas and Nebraska. Additional information is available at www.aquila.com.
The Aquila, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=1753