Sierra Pacific Power to sell $250 million 10-year notes Monday

By Aleesia Forni

Virginia Beach, Va., Aug. 12 - Sierra Pacific Power Co., a subsidiary of NV Energy Inc., is planning to issue $250 million 10-year general and refunding mortgage notes, series T, on Monday, according to an informed source and a filing with the Securities and Exchange Commission.

J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the joint bookrunners.

Barclays, Mitsubishi UFJ Securities, Scotiabank and Williams Capital Group LP are the co-managers.

The company plans to use the proceeds from the offering, together with available cash, to pay its $250 million 5.45% general and refunding mortgage notes, series Q, which mature on Sept. 1, 2013.

NV Energy is a Las Vegas-based electric utility company.

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