Allegheny Energy to refinance bonds |
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Thu, 11 Oct 2007 22:29
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GREENSBURG, Pa. (AP) - Electric utility Allegheny Energy Inc. said Thursday that subsidiary Allegheny Energy Supply Co. LLC will refinance a total of $215.5 million of tax-exempt bonds.The company will refinance $89.5 million of tax-exempt pollution control bonds maturing Nov. 1, 2007, and $126 million of tax-exempt pollution control and solid waste disposal bonds currently redeemable.The weighted average interest rate of the new bonds is 5.34 percent, with a 30-year maturity, said Allegheny, which expects to close the issuance on Oct. 22.Allegheny Energy shares rose 58 cents to close at $56.28.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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