New Issue: Idaho Power prices $80 million of 1.9% 10-year first mortgage bonds at 99.59

By Cristal Cody

Tupelo, Miss., June 17 – Idaho Power Co. priced $80 million of 1.9% 10-year first mortgage bonds, series L secured medium-term notes, (A1/A-) on Wednesday at 99.59, according to an FWP filing with the Securities and Exchange Commission.

J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, MUFG, BofA Securities, Inc. and U.S. Bancorp Investments Inc. were the bookrunners.

Proceeds will be used to pay at or before maturity $75 million of the company's 2.95% first mortgage bonds due April 1, 2022 and to fund a portion of capital requirements or for other general corporate purposes.

Idaho Power is an electric power utility based in Boise, Idaho.

Issuer:	Idaho Power Co.
Amount:	$80 million
Description:	First mortgage bonds, series L secured medium-term notes
Maturity:	July 15, 2030
Bookrunners:	J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, MUFG, BofA Securities, Inc. and U.S. Bancorp Investments Inc.
Coupon:	1.9%
Price:	99.59
Call features:	Make-whole call at greater of par and Treasuries plus 20 bps before April 15, 2030; thereafter at par
Trade date:	June 17
Settlement date:	June 22
Ratings:	Moody’s: A1
	S&P: A-
Distribution:	SEC registered

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