Empire District Electric issues $150M in bonds

Joplin-based Empire District Electric Co. (NYSE: EDE) has issued $150 million in first-mortgage bonds.

As scheduled in a bond purchase agreement dated Oct. 30, the issuance comprises $120 million in bonds with an interest rate of 4.32 percent due 2043 and $30 million with 3.73 percent interest due 2033, according to a news release.

Empire District - which has approximately 216,000 customers in Missouri, including Greene County, as well as Kansas, Oklahoma and Arkansas - plans to use the proceeds of the bonds to redeem $98 million in senior notes and for other general corporate purposes.

In the first quarter, Empire District Electric bumped its quarterly earnings by 28.6 percent to $12.6 million, as of March 31.

EDE shares were trading at $21.95 as of 11:10 a.m., compared to a 52-week range of $19.59 to $23.35.