Aquila completes $330m refinancing and pays off $430m loan

Kansas City-based energy company Aquila has made further moves to reduce its debt with two new 364-day unsecured financings: a $110 million revolving credit facility and a $220 million term loan facility. The company borrowed the full amount under the term loan but did not immediately draw on the revolving facility.

The company has used part of the new capital – along with other available cash – to pay off a $430 million secured term loan that comes due in October 2004. As a result, it has released the collateral securing the three-year loan, including the company’s utility assets in Colorado, Iowa, Michigan and Nebraska.

Aquila had said at the end of August it was planning to retire the existing credit line and set up two new financings. The company expects the moves to reduce its outstanding debt by

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here