Nevada Power to redeem all 10 7/8% notes

By Jennifer Chiou

New York, Sept. 15 - Nevada Power Co. announced the redemption of its $12.554 million of 10 7/8% general and refunding mortgage notes series E due 2009.

The company will redeem the notes at $1,054.38 per $1,000 principal amount, including accrued interest to the redemption date.

As previously announced on June 29, by the consent deadline of 5 p.m. ET on June 14, the company had received tenders for $150 million or 92% of the securities.

The Las Vegas-based electric utility is a subsidiary of Sierra Pacific Resources.

The Bank of New York is the trustee.

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