Kansas City Power remarkets several series of revenue refunding bonds

By Susanna Moon

Chicago, May 9 - Kansas City Power & Light Co. remarketed several series of environmental improvement revenue refunding (EIRR) bonds that were auction-rate securities, according to a 10-Q filing with the Securities and Exchange Commission.

After the remarketing, the company said none of its EIRR bonds remain in auction-rate mode.

In March, the company remarketed the following EIRR bonds:

• $31 million of secured series 1992 bonds due 2017 at fixed rate of 5.25% through March 31, 2013;

• $40 million of secured series 1993A bonds due 2023 at fixed rate of 5.25% through March 31, 2013; and

• $73.2 million of unsecured series 2007B bonds due 2035 at fixed rate of 5.375% through March 31, 2013.

In April, Kansas City Power remarketed the following EIRR bonds:

• $39.5 million of secured series 1993B bonds due 2023 at fixed rate of 5% through March 31, 2011 and

• Unsecured series 2007A bonds due 2035 in two series: $63.3 million of series 2007A-1 at a fixed rate of 5.125% through March 31, 2011 and $10 million of series 2007A-2 at fixed rate of 5% through March 31, 2010.

The utility is based in Kansas City, Mo.

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