Detailed Instructions: Given a text, write a compressed version of it in a single sentence.
Q: 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.
A:
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