By Lisa Kerner
Charlotte, N.C., Dec. 22 – Avista Corp. privately placed $60 million of 4.11% first mortgage bonds due 2044 with three institutional investors on Dec. 18.
Proceeds were used to repay a portion of the borrowings outstanding under the company’s $400 million committed line of credit and for general corporate purposes, according to a form 8-K filed with the Securities and Exchange Commission.
The new first mortgage bonds were issued under and in accordance with the mortgage and deed of trust, dated as of June 1, 1939, from Avista to Citibank, NA, trustee, as amended and supplemented by various supplemental indentures and other instruments, the filing stated.
The bonds have not been, and will not be, registered under the Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Avista is a Spokane, Wash.-based energy company.
| Issuer: | Avista Corp.
|
| Issue: | First mortgage bonds
|
| Amount: | $60 million
|
| Maturity: | 2044
|
| Coupon: | 4.11%
|
| Settlement date: | Dec. 18
|
| Distribution: | Private placement
|
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