Newalta calls convertibles, funding from C$125 million of new notes

By Ashley Montgomery

Kansas City, Kan., Nov. 14 - Newalta Corp. said it will redeem its 7% convertible unsecured subordinated debentures due 2012 on Dec. 15.

The company will pay par plus accrued interest.

Any offering proceeds remaining after the redemption will fund the repayment of Newalta's credit facility, the company said in a news release.

Funding will come from a C$125 million principal amount offering of 7.75% series 2 senior unsecured debentures due 2019. That transaction closed Monday.

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

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