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NRG Energy plans redemption of 4% convertible preferreds on Dec. 21
By Devika Patel
Knoxville, Tenn., Nov. 20 - NRG Energy, Inc. said it will redeem 210,000 of its 419,587 outstanding 4% convertible preferred shares, or approximately 50% of the preferreds, on Dec. 21.
The company will pay $20.00 per preferred and will make its scheduled dividend payment on the preferreds on Dec. 15.
The preferreds may be converted into common stock prior to Dec. 18 at an exchange rate of 50 common shares per preferred.
Mellon Investor Services LLC (800 877-3674) is the redemption agent.
The company may redeem the remaining preferreds in the future.
NRG is a Princeton, N.J.-based power generation company.
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