Dayton Power and Light Announces Redemption of Bonds.DAYTON, Ohio--(BUSINESS WIRE)--Dec. 3, 1997--The Dayton Power and Light Co. announced that it intends to redeem redeem v. to buy back, as when an owner who had mortgaged his/her real property pays off the debt. The term also refers to paying the amount due and all charges after a foreclosure (due to failure to make payments when due) has begun. on Dec. 30, 1997 all of its First Mortgage Bonds, 8 percent Series Due 2003, $40 million outstanding. The Bonds will be redeemed at a premium of 1.40 percent of principal, 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. to the date fixed for redemption. The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. is the redemption agent. The Dayton Power and Light Co. is a subsidiary of DPL (Digital PowerLine) An earlier technology for transmitting a 1 Mbps data signal over electric power lines from Nortel Networks. It was developed in the late 1990s, but later abandoned due to implementation difficulties. See broadband over power lines. Inc. CONTACT: The Dayton Power and Light Co. DPL Medialine, 937/224-5940 |
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