UPDATE 1-OGE Energy unit sells $250 mln of senior notes

Tue Nov 10, 2009 9:40pm GMT
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* Enogex sells 6.25 percent 10-year senior notes

* To use net proceeds to repay debt

Nov 10 (Reuters) - Utility company OGE Energy Corp (OGE.N: Quote, Profile, Research) said its unit, Enogex LLC, sold $250 million of 6.25 percent 10-year senior notes, and intends to use the net proceeds to repay debt.

Enogex will repay, at maturity, a portion of the $289.2 million of its 8.125 percent senior notes, which mature on Jan. 15, 2010, OGE Energy said.

Enogex will temporarily use the net proceeds to repay borrowings under its credit facility, with any excess proceeds being temporarily invested, OGE Energy said.

Shares of OGE Energy were down by 18 cents at $34.24 in after-market trade. They closed at $34.42 Tuesday on the New York Stock Exchange. (Reporting by Arundhati Ramanathan in Bangalore; Editing by Anne Pallivathuckal)

 
 

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