Westar Energy calls some 9¾% notes

New York, March 31 - Westar Energy Inc. (Ba2/BB-) said that it will redeem $127 million principal amount of its 9¾% senior notes due 2007.

The redemption will take place on April 30 at a price of 109.75%. The paying agent will be Deutsche Bank Trust Co. Americas.

The company said that the principal, premium and interest accrued up to the redemption date will be paid on April 30 from a portion of the proceeds of the company's recently announced equity offering. Upon redemption, the principal amount of the notes still outstanding will be $260 million.

As previously announced, Westar Energy, a Topeka, Kan., electric utility, said on March 17 that it would redeem all the $100 million of outstanding 7 7/8% cumulative quarterly income preferred securities, series A, issued by Westar Resources Capital I.

The company said the Quips would be redeemed on April 16 at par of $25 plus accrued distributions of $0.0820313, with available cash being used to fund the redemption.

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