SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
June 10, 2004
Date of Report (Date of earliest event reported)
WESTAR ENERGY, INC.
(Exact name of registrant as specified in its charter)
| Kansas | 1-3523 | 48-0290150 | ||
| (State or other jurisdiction of incorporation or organization) |
(Commission file number) | (I.R.S. Employer Identification No.) |
818 South Kansas Avenue, Topeka, Kansas 66612
(Address of principal executive offices)
(785) 575-6300
(Registrant’s telephone number, including area code)
WESTAR ENERGY, INC.
| Item 5. | Other Events |
On June 17, 2004, we announced that we recently completed more than $600 million of debt refinancing transactions. On June 10, 2004, we issued Pollution Control Bonds to refinance $58.3 million of our 6% Pollution Control Bonds due 2033 and our wholly-owned subsidiary, Kansas Gas and Electric Company, issued Pollution Control Bonds to refinance $327.5 million of its 7% Pollution Control Bonds due 2031.
Additionally, on June 17, 2004, we issued $250 million of 6.0% First Mortgage Bonds due 2014. We intend to use the proceeds from the First Mortgage Bond offering to retire $100 million principal amount of our 7.65% First Mortgage Bonds due 2023 and $125 million principal amount of our 8.5% First Mortgage Bonds due 2022. The remainder of the proceeds from the First Mortgage Bond offering will be used for general corporate purposes.
| Item 7. | Financial Statements and Exhibits |
(c) Exhibits
Exhibit 99.1 – Press Release dated June 17, 2004.
The information contained in this report is summary information that is intended to be considered in the context of our SEC filings and other public announcements that we may make, by press release or otherwise, from time to time. We disclaim any current intention to revise or update the information contained in this report, although we may do so from time to time as our management believes is warranted. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosure.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Westar Energy, Inc. | ||||||||
| Date: June 17, 2004 |
By | /s/ LARRY D. IRICK | ||||||
| Larry D. Irick, Vice President, General | ||||||||
| Counsel and Corporate Secretary | ||||||||
EXHIBIT INDEX
| Exhibit Number |
Description of Exhibit | |
| 99.1 | Press Release dated June 17, 2004 | |
Exhibit 99.1
 |
Media contact: | |
| Karla Olsen, | ||
| senior manager, media | ||
| relations | ||
| Phone: 888.613.0003 | ||
| FAX: 316.261.6769 | ||
| karla_olsen@wr.com | ||
| Investor contact: | ||
| Bruce Burns, | ||
| director, investor relations | ||
| Phone: 785.575.8227 | ||
| bruce_burns@wr.com |
WESTAR ENERGY COMPLETES DEBT REFINANCINGS
TOPEKA, Kan., June 17, 2004 — Westar Energy, Inc. (NYSE: WR) today announced that it has recently completed more than $600 million of debt refinancing transactions. On June 10, Westar Energy issued Pollution Control Bonds to refinance $58.3 million of its 6% Pollution Control Bonds due 2033 and its wholly-owned subsidiary, Kansas Gas and Electric, issued Pollution Control Bonds to refinance $327.5 million of its 7% Pollution Control Bonds due 2031. Both Westar Energy and Kansas Gas and Electric conduct business using the name Westar Energy.
Additionally, on June 17, Westar Energy issued $250 million of 6.0% First Mortgage Bonds due 2014 and intends to use the proceeds to retire $100 million principal amount of its 7.65% First Mortgage Bonds due 2023 and $125 million principal amount of its 8.5% First Mortgage Bonds due 2022. The remainder of the proceeds from the First Mortgage Bond offering will be used for general corporate purposes.
The company indicated that these refinancings will reduce its interest costs. Interest savings will vary over the term of the newly issued Pollution Control Bonds as portions of these bonds were issued under variable interest rate structures.
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Westar Energy completes debt refinanings, page 2
Westar Energy, Inc. is Kansas’ largest electric energy provider, serving more than 647,000 customers. Westar Energy employs about 2,000 people. The company has total assets of approximately $5.3 billion. Westar Energy has nearly 6,000 megawatts of electric generation capacity and operates and coordinates more than 34,000 miles of electric distribution and transmission lines.
For more information about Westar Energy, visit us on the Internet at http://www.wr.com.
Forward-looking statements: Certain matters discussed in this news release are “forward-looking statements.” The Private Securities Litigation Reform Act of 1995 has established that these statements qualify for safe harbors from liability. Forward-looking statements may include words like we “believe,” “anticipate,” “target,” “expect,” “pro forma,” “estimate,” “intend” or words of similar meaning. Forward-looking statements describe our future plans, objectives, expectations or goals. Any forward-looking statement speaks only as of the date such statement was made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement was made except as required by applicable laws or regulations. All forward-looking statements are qualified by the risks described in Westar Energy, Inc.’s Form 10-K, as amended, for year-end 2003.