MXenergy to redeem 13¼% notes in connection with Constellation merger

By Angela McDaniels

Tacoma, Wash., May 12 - MXenergy Holdings Inc. plans to redeem its outstanding 13¼% senior subordinated notes due 2014 at 106.625 plus accrued interest, according to a news release.

The redemption will be made in connection with the company's upcoming merger with Constellation Energy Group, Inc. MXenergy agreed to be acquired for $175 million. The transaction is expected to be completed in the third quarter.

Constellation Energy will not assume MXenergy's floating-rate notes due Aug. 1, 2011.

MXenergy is a retail natural gas and electricity supplier based in Stamford, Conn.

Baltimore-based Constellation Energy supplies power, natural gas and energy products and services.

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