By Stephanie N. Rotondo
Portland, Ore., Dec. 18 - Avista Corp. issued $30 million of 7¼% first mortgage bonds due 2013 through a private placement, according to an 8-K filing with the Securities and Exchange Commission Thursday.
The deal was settled on Dec. 16.
Proceeds from the transaction were used to repay $25 million of medium-term notes that came due Dec. 8, and to also repay a portion of the company's five-year $320 million credit line.
The bonds have a make-whole call at Treasuries plus 50 basis points.
Avista is a Spokane, Wash.-based energy, information and technology company.
| Issuer: | Avista Corp.
|
| Security description: | First mortgage bonds
|
| Amount: | $30 million
|
| Coupon: | 7¼%
|
| Maturity: | Dec 16, 2013
|
| Call: | Make-whole call at plus 50 bps
|
| Settlement date: | Dec. 16
|
| Distribution: | Private placement
|
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