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Article: WPS Resources Corporation Completes Sale of $100 Million of Senior Unsecured Notes.
- Article from:
- PR Newswire
- Article date:
- November 25, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WPS Resources Corporation announced that it completed the sale of $100 million of 5.375% 10-year senior unsecured notes, which were sold in the public debt market as a registered offering under the Securities Act of 1933. The notes, which mature on December 1, 2012, pay interest on June 1 and December 1 beginning in 2003. The notes, in $1,000 denominations, were priced at $991.97 per bond, which will yield 5.48% to the bondholder at maturity.
WPS Resources will use approximately $55 million of the net proceeds from the issuance to repay short-term indebtedness incurred to provide equity capital to its subsidiaries and the remainder for other corporate ...