Westar Energy to retire $177.5 million of Kansas Gas bonds via offering

By Tali Rackner

Norfolk, Va., May 12 - Westar Energy Inc. plans to use the proceeds from a first mortgage bond offering to retire $177.5 million of subsidiary Kansas Gas and Electric Co.'s pollution control bonds, according to a 424B5 filing with the Securities and Exchange Commission.

Specifically, the company will redeem $108.6 million of 5.3% notes due 2031, $50 million of 5% notes due 2031 and $18.9 million of 5.3% notes due 2031.

Any remaining proceeds will be used for working capital and general corporate purposes.

The electric utility is based in Topeka, Kan.

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