Avista offers first mortgage bonds with fixed rate

Chicago, March 8 – Avista Corp. is offering first mortgage bonds, according to a 424B3 filing with the Securities and Exchange Commission on Tuesday.

The bonds will be callable with a make-whole premium until their par call date a number of months before the maturity date.

Joint bookrunners are listed as BofA Securities, Inc., MUFG, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC.

The company is using both in-house counsel and Pillsbury Winthrop Shaw Pittman LLP.

Proceeds will be used to pay off the $250 million of first mortgage bonds which mature April 1, 2022, to repay borrowings under the company’s $400 million credit facility and to fund construction, facility improvements and maintenance programs and other general corporate purposes.

Avista is a Spokane, Wash.-based electric and natural gas utility.

© 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.