20200724Disposition of Proceeds.pdf

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An IDACORP Company
July 13,2020
Ms. Jean D. Jewell
Idaho Public Utilities Commission
P.O. Box 73720
Boise,lD 83720-0074 lPc- €- r4-o7
Dear Ms. Jewell
We are submitting the following information in compliance with the Commission's Order No.
34302 in connection with the sale of $230,000,000 principal amount of 4.20Yo First Mortgage
Bonds, Secured Medium-Term Notes, Series K, due March 1,2048 (the "2048 MTNs").
The 2048 MTNs were issued by Idaho Power Company on April 3,2020 and were on that date
offered for sale to the public. Underwriters for this issuance were J.P. Morgan Securities LLC;
Wells Fargo Securities, LLC; KeyBanc Capital Markets Inc., BofA Securities,Inc.; MUFG
Securities Americas Inc.; and U.S. Bancorp Investments, [nc.
1) Receipt and disposition of proceeds:
Accounting for receipt and disposition of proceeds from the sale of the above described bonds is
certified to be as follows:
Proceeds from the sale of $230,000,000 4.20% First
Mortgage Bonds, Secured Medium-Term Notes
Series K authorized by Order No. 33513 $ 261,654,900
Total proceeds received................$261,654,900
Proceeds used for payment of agent fees........... 1,725,000
Proceeds will be used to pay prior to maturity
S100,000,000 3.40% First Mortgage Bonds that
mature on November 1,2020 and fund a portion of
capital requirements. ... ..
P.O. Box 70 (83707)
1221 W. ldaho St.
259.929^900
Boise, lD 83702
Ms. Jewell Page2 of?July 13,2020
Total use ofproceeds
Balance
259-929.900
$____________0
2) Rates:
The coupon rate for the 2048 MTNs was set at 4.20 percent. The bonds were issued at a
price of 113.763yo, resulting in a reoffer yieldof 3.43%.
Sincerely,
Ken Petersen
Vice President - Chief Accounting Officer and Treasurer