Westar Energy to redeem $260 million 9¾% notes with revolver borrowings, cash

By Caroline Salls

Pittsburgh, Jan. 12 - Westar Energy Inc. said it will redeem the remaining $260 million of 9¾% senior notes due 2007 using proceeds from an offering of first mortgage bonds, cash on hand and/or borrowings under its revolving credit facility.

Upon the completion of the company's offering of $250 million first mortgage bonds, a redemption notice will be given to holders of the 9¾% senior notes, which will be redeemed 30 days after the redemption notice is delivered to holders.

The bond offering is expected to close on Jan. 18.

Westar is a Topeka, Kan., energy provider.

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