Business Services Industry
Aquila Announces Its Intention to Retire $430 Million Senior Secured Credit Facility
Business Wire, Sept 1, 2004
KANSAS CITY, Mo. -- Aquila, Inc. (NYSE:ILA) announced today that it intends to retire its existing $430 million secured credit facility and enter into two new unsecured, 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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