By Andrea Heisinger
New York, Aug. 18 - Sierra Pacific Power Co., doing business as NV Energy, reopened its 6% general and refunding mortgage bonds due May 15, 2016 on Tuesday to add $150 million, according to an FWP filing with the Securities and Exchange Commission.
The notes (Baa3/BBB/BBB-) priced at 106.171 to yield 4.911%, or Treasuries plus 180 basis points. They have a make-whole call at Treasuries plus 30 bps.
Total issuance is $450 million, including $300 million issued March 23, 2006.
Bookrunners were Barclays Capital Inc. and the Bank of New York Mellon Capital Markets LLC. Co-managers were Commerzbank Corporates & Markets and Scotia Capital.
Proceeds will be used to repay a revolving credit facility due November 2010.
The electric and natural gas subsidiary of NV Energy Inc. is based in Reno, Nev.
| Issuer: | Sierra Pacific Power Co. d/b/a NV Energy
|
| Issue: | General and refunding mortgage notes
|
| Amount: | $150 million reopened
|
| Maturity: | May 15, 2016
|
| Bookrunners: | Barclays Capital Inc., Bank of New York Mellon Capital Markets LLC
|
| Co-managers: | Commerzbank Corporates & Markets, Scotia Capital
|
| Coupon: | 6%
|
| Price: | 106.171
|
| Yield: | 4.911%
|
| Spread: | Treasuries plus 180 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Trade date: | Aug. 18
|
| Settlement date: | Aug. 21
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB
|
| Fitch: BBB-
|
| Total issuance: | $450 million, including $300 million issued March 23, 2006
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
