Allegheny Energy, Inc. Subsidiary Calls for Redemption of 8 Percent Quarterly Income Debt Securities -QUIDS-.Business & Energy Editors HAGERSTOWN, Md.--(BUSINESS WIRE)--April 22, 2002 Allegheny Energy Allegheny Energy (NYSE: AYE) is a traditional public utility based in the Pittsburgh suburb of Greensburg. It services communities in Western Pennsylvania, Western Maryland, Northern West Virginia, Northwest Virginia. , Inc. (NYSE NYSE See: New York Stock Exchange :AYE) announced today that its subsidiary, West Penn Power Company, doing business as Allegheny Power, will call on May 22, 2002, for the redemption of all outstanding shares of its 8 percent Quarterly Income Debt Securities (QUIDS(SM)(a)) Junior Subordinated Deferrable Interest Debentures, Series A (NYSE:WQP WQP Water Quality Parameter ), due June 30, 2025, with a value of $70 million. A redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. of $25 per share plus accrued interest Accrued Interest The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date. There are two methods for calculating accrued interest: 1) 360-day year method, used for corporate and municipal bonds. will be paid for shares of the 8 percent QUIDS(SM). Allegheny Energy is an integrated Fortune 500 energy company with a balanced portfolio of businesses, including Allegheny Energy Supply, a national energy merchant which owns and operates electric generating facilities and supplies energy and energy-related commodities in selected domestic retail and wholesale markets; Allegheny Power, which delivers low-cost, reliable electric and natural gas service to about three million people in Maryland, Ohio, Pennsylvania, Virginia, and West Virginia; and a business segment offering fiber-optic and data services, energy procurement and management, and energy services. With headquarters in Hagerstown, Md., Allegheny Energy is included on the Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index 500 index, the Barron's 500 list, and the Forbes "Platinum 400" list of America's best big companies. Information is available at www.alleghenyenergy.com. (a) QUIDS is a registered service mark of Goldman Sachs. |
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