By Andrea Heisinger
New York, Nov. 17 - Idaho Power Co. sold $130 million of 4.5% first mortgage bonds due in March 1, 2020 on Tuesday to yield 120 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The notes (A3/A-/) priced at 99.819 to yield 4.523%. There is a make-whole call at Treasuries plus 20 bps.
Bank of America Merrill Lynch, J.P. Morgan Securities Inc. and Wells Fargo Securities were bookrunners.
Co-managers were KeyBanc Capital Markets Inc., Wedbush Morgan Securities, RBC Capital Markets Corp. and SunTrust Robinson Humphrey Inc.
The electric subsidiary of Idacorp, Inc. is based in Boise, Idaho.
| Issuer: | Idaho Power Co.
|
| Issue: | First mortgage bonds
|
| Amount: | $130 million
|
| Maturity: | March 1, 2020
|
| Bookrunners: | Bank of America Merrill Lynch, J.P. Morgan Securities Inc., Wells Fargo Securities
|
| Co-managers: | KeyBanc Capital Markets Inc., Wedbush Morgan Securities, RBC Capital Markets Corp., SunTrust Robinson Humphrey Inc.
|
| Coupon: | 4.5%
|
| Price: | 99.819
|
| Yield: | 4.523%
|
| Spread: | Treasuries plus 120 bps
|
| Call: | Make-whole at Treasuries plus 20 bps
|
| Trade date: | Nov. 17
|
| Settlement date: | Nov. 20
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
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