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UniSource Energy Announces Partial Redemption Of 4.5 Percent Convertible Senior Notes Due 2035

Stocks in this article: UNS

UniSource Energy Corporation (NYSE: UNS) announced today that on April 17, 2012, it will redeem $40,000,000 in principal amount of its 4.50% Convertible Senior Notes due 2035 ("Notes") with CUSIP numbers 909205 AB 2 and 909205 AA 4. The principal amount of Notes for each CUSIP number to be redeemed is $39,700,000 for CUSIP Number 909205 AB 2 and $300,000 for CUSIP Number 909205 AA 4.

The Notes were originally issued in March 2005 in an aggregate principal amount of $150,000,000, of which approximately $75,000,000 remain outstanding. As described below, holders of the Notes selected for redemption have the option of converting their Notes into shares of UniSource Energy common stock before the date specified for redemption.

The Notes will be redeemed at a redemption price of 100 percent of the principal amount thereof plus accrued and unpaid interest to, but not including, the redemption date. The Notes to be redeemed will be selected in accordance with the applicable procedures of the Depository Trust Company ("DTC"), the registered holder of the Notes, for partial redemptions.

Holders of portions of the Notes selected for redemption who wish to convert such portion of their Notes into shares of UniSource Energy's common stock rather than have their interests redeemed must exercise their conversion rights in accordance with the applicable procedures of DTC so as to cause the Notes otherwise subject to redemption to be surrendered for conversion prior to 5:00 p.m., New York City time, on the business day immediately preceding the redemption date. The Notes are convertible by the holders thereof into shares of UniSource Energy common stock at a current conversion rate of 29.001 shares of common stock for each $1,000 principal amount of Notes converted, which represents a conversion price of approximately $34.48 per share of common stock.

Copies of the notice of redemption may be obtained from the Bank of New York Mellon, the trustee, paying agent and conversion agent for the Notes, by calling Bondholder Relations at (800) 254-2826.

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