Protection One to redeem some 8 1/8% notes via stock proceeds

By Jennifer Chiou

New York, July 12 - Protection One, Inc. intends to use the proceeds from a $172.5 million offering of common stock to repurchase or redeem some of its $110.3 million of 8 1/8% senior subordinated notes due 2009, according to an S-3 filing with the Securities and Exchange Commission.

Based in Lawrence, Kan., Protection One provides security monitoring services.

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