Aquila calls 7 7/8% bonds due 2032, 8% notes due 2023, 9% notes due 2021

By Laura Lutz

Des Moines, May 11 - Aquila, Inc. plans to redeem $344 million principal amount of its outstanding debt securities.

The redemption will include the company's entire $287.5 million principal amount of 7 7/8% quarterly interest bonds due March 1, 2032; its entire $51.5 million principal amount of 8% senior notes due March 1, 2023; and its entire $5 million principal amount of 9% senior notes due Nov. 15, 2021.

All of the notes will be redeemed on June 15.

The company will pay par for the 7 7/8% bonds, 102.251 for the 8% notes and 102.013 for the 9% notes. Holders will also receive accrued interest to the redemption date.

Union Bank of California, NA (213 972-5675) will be the redemption and paying agent.

Aquila is a power company based in Kansas City, Mo.

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