HomeMy WebLinkAbout20090917Remarketing Report.pdf$SIDA~PO~
An IDACORP Company
September 14,2009
Ms. Jean D. Jewell
Idaho Public Utilties Commission
P.O. Box 73720
Boise, il 83720-0074
1: PC-
Dear Ms. Jewell:
We are submitting the following information in connection with the Commission's Order No. 30049 regarding the
remarketing of $116,300,000 principal amount of 5.25% Sweetwater County, Wyoming Pollution Control Revenue
Refunding Bonds (Idaho Power Company Project) Series 2006 due July 15,2026 ("Bonds").
On August 20,2009, the interest rate period for the Bonds was converted from a weekly interest rate period to a
term interest rate period, as allowed under the Trust Indenture for the Bonds. The Bonds were remarketed at a fixed
interest rate of 5.25% per annum, for a term interest rate period ending July 14,2026. The remarketing of the Bonds
established a new interest rate period for the Bonds but did not represent a new issuance of the Bonds. Underwriters
for this issuance were Banc of America Securities, LLC; JP Morgan Securities Inc.; Wachovia Capital Markets,
LLC; and Wedbush Morgan Securities Inc.
1) Receipt and disposition of proceeds:
Accounting for receipt and disposition of proceeds from the remarketing of the Bonds is certified to be as follows:
Proceeds from the remarketing of $116,300,0005.25% Pollution
Control Revenue Refunding Bonds, Series 2006
authorized by Order No. 30049 ...... .... .... .............. ..... ......... .... $116,300,000
Proceeds wil be used to repay the $170,000,00 Term
Loan that was issued on 41212008 (and refinanced on
2/412009) to fud Idaho Power's reacquisition of the Bonds
for the weekly interest rate period. ....... ...... .... ......... ..... .......... i 16.300,000 116.300,000
Balance ........................................................ $o
2) Rates:
The coupon rate was set at 5.25 percent.
Sincerely,~~t2~
Darrel T. Anderson
Senior Vice President - Administrative Services and Chief Financial Officer
P.O. Box 70 (83707)
1221 W.ldaho St.
Boise, ID B3702