Given a text, write a compressed version of it in a single sentence.

The El Paso, Texas, maker of Western boots and leather accessories said the preferred stock would accrue dividends at a 12 % rate, but wouldn't be paid for the first two years. The stock would be redeemed in five years, subject to terms of the surviving company's debt.
Maker of western boots and leather accessories said preferred stocks accrue dividends at a 12% rate, but won't be paid the first 2 years, stock redeemed in 5 years, subject to terms of company's debt