Empire District to place $150 million first mortgage bonds in October

By Lisa Kerner

Charlotte, N.C., Sept. 28 - Empire District Electric Co. expects to enter into agreements on or about Oct. 15 for the private placement of $30 million of 3.73% first mortgage bonds due 2033 and $120 million of 4.32% first mortgage bonds due 2043, according to an 8-K filing with the Securities and Exchange Commission.

Settlement is expected to occur May 30, 2013.

Proceeds will be used to redeem all $98 million of the company's 4.5% senior notes due June 15, 2013 and for general corporate purposes.

The Joplin, Mo.-based utility company provides electricity, natural gas and water to customers in Missouri, Kansas, Oklahoma and Arkansas.

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