KANSAS CITY, Mo., July 10, 2007 (PRIME NEWSWIRE) -- Aquila, Inc. (NYSE:ILA) today announced its election to redeem approximately $1.9 million in aggregate principal amount of its 6.625% Convertible Subordinated Debentures due 2011. The redemption date of the debentures, which will be redeemed in full by the company, will be August 13, 2007. The redemption price will be $1,000.00 per debenture (par value), plus any accrued and unpaid interest to the redemption date. Holders of the securities may convert the debentures into shares of Aquila, Inc. common stock prior to the redemption date, in accordance with the provisions contained in paragraph 9 of the debentures, at a conversion price of $15.79 per share of Aquila, Inc. common stock into which the debentures will convert.
Union Bank of California, N.A. is the trustee under the indenture pursuant to which the convertible debentures were issued. Union Bank, which will serve as redemption and paying agent, will provide the necessary redemption notices to the holders of the debentures. Debenture holders 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 its New York City office at 551 Madison Avenue, 11th Floor, New York, NY 10022, attention Valerie Crain.
Based in Kansas City, Mo., Aquila owns electric power generation and operates electric and natural gas transmission and distribution networks serving customers in Colorado, Iowa, Kansas, Missouri and Nebraska. More information is available at www.Aquila.com.
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