Newalta plans to redeem C$125 million 7 5/8% notes due 2017 at 103.813

By Susanna Moon

Chicago, April 1 - Newalta Corp. said it plans to redeem all of its C$125 million outstanding series 1 7 5/8% senior debentures due Nov. 23, 2017.

The redemption price will be 103.813% of par plus accrued interest on May 1, according to a company press release.

Funding for the redemption will come from a new issue of notes that priced March 25.

As previously reported, Newalta priced C$150 million of 5 7/8% seven-year senior debentures at par in a private placement.

Newalta is a Calgary, Alta.-based industrial waste management and environmental services company.

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