Interstate Power to use note proceeds to fund 6.75% notes redemption

By Devika Patel

Knoxville, Tenn., Aug. 23 - Interstate Power & Light Co. will use the proceeds from an offering of senior debentures to fund the early redemption of its $200 million in 6.75% series B senior debentures due March 15, 2011 on Sept. 15.

The company issued a redemption notice to investors on Aug. 13.

As previously reported, the debentures will be redeemed for $213,035,856.82, which is equal to par plus accrued interest up to the redemption date and a make-whole amount.

The electric and natural gas subsidiary of Alliant Energy Co. is based in Cedar Rapids, Iowa.

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