Aquila Announces Its Intention to Retire $430 Million Senior Secured Credit Facility.KANSAS CITY Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Mo. -- Aquila, Inc. (NYSE NYSE See: New York Stock Exchange :ILA ILA abbr. insulinlike activity ) announced today that it intends to retire its existing $430 million secured credit facility and enter into two new unsecured Unsecured A loan or equity interest that is given without any guarantee of payment, performance, satisfaction or opportunity for return from the recipient. No property, interest or security is used as collateral in either a guarantee or a pledge. , working capital facilities. The company anticipates this occurring prior to or on September 16, 2004. These transactions are expected to reduce the company's aggregate debt outstanding by approximately $230 million and lower the company's annual interest expense. Based in Kansas City, Mo., Aquila operates electricity and natural gas distribution utilities in Colorado, Iowa, Kansas, Michigan, Minnesota, Missouri and Nebraska. The company also owns and operates power generation assets. More information is available at www.aquila.com. |
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