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NRG to miss coupon payment on convertibles
New York, Oct. 29 - NRG Energy, Inc. said it will not make the quarterly interest payment on its 6.5% senior debentures due May 16, 2006 which trade with associated purchase contracts as NRG corporate units under the NRZ ticker symbol.
NRG said it has until Dec. 16 to make the payment before a default occurs.
The Minneapolis energy company said it plans to address the payment as part of a broader restructuring plan and is working with bondholders.
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