ConocoPhillips announced that on Jan. 1, 2003, the company will redeem $250 million of 8.49% notes due Jan. 1, 2023. The company said that as a result of refunding these notes with lower cost debt, pre-tax interest expense will be lower by approximately $6.6 million a year based on current market conditions. Under the terms of the notes, ConocoPhillips has the option to redeem them at 104.245% of face value on or after Jan. 1, 2003. This action by the company will redeem all of the 8.49% notes.

Merriville, IN-based NiSource Inc. said Wednesday that it has generated proceeds of approximately $734.9 million from the sale of 41,400,000 shares of common stock at a public offering price of $18.30 per share. The company noted that the total includes 36,000,000 shares of NiSource common stock that were sold through a public offering, which closed on Nov. 13, generating approximately $639 million in proceeds to the company. Also included in the total are 5,400,000 shares of NiSource common stock sold in connection with the exercise of an overallotment option granted to the underwriters of the public offering. The sale of these shares, which closed Wednesday, generated proceeds to the Company of approximately $95.9 million. NiSource said proceeds will be used for the repayment of debt.

FERC is trying to recruit and train them young. Last Wednesday, it launched a new section on its web site called “Students’ Corner,” which gives students of all ages a broad overview of the agency, as well as provides games, quizzes and crossword puzzles. It also encourages students to pursue careers at the Commission, whether as attorneys or computer specialists. For more information, go to https://www.ferc.fed.us/students/index.html.

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