20080715Notice of Proposed Issuance.pdf

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Pacific Power I Utah Power
Rocky Mountain Power
825 NE Multnomah, Suite 1900
Portland, Oregon 97232
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July 14, 2008
VIA FACSIMILE AND OVERNIGHT COUR,ftR,
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Idaho Public Utilty Commission
Statehouse
472 West Washington Street
Boise, ID 83720
ATTN:Ms. Jean D. Jewell
Commission Secreta
Re: Case No. PAC-E-07-16:
Order No. 30489
In the matter of the Application of Rocky Mountain
Power for authority to (1) issue and sell or exchange
not more than $2,000,000,000 of Debt, (2) enter into
credit support arangements, (3) enter into curency
swaps, and (4) contribute or sell additional. Debt to
special purose entities.
Dear Commissioners:
Pursuant to Order No. 30489, PacifiCorp is hereby providing notice to the Commission of the
proposed issuance of approximately $700 milion or more of the Company's First Mortgage
Bonds.
The Bonds will have a maturity of between 10 and 30 years and are expected to be issued at a
spread over the corresponding United States Treasur Bond Benchmark of approximately 195
basis points. At the present time this would result in a coupon interest rate of approximately
5.90% and 6.50~ respectively. The Bonds are expected to be redeemable at the Company's
option at redemption prices dependent upon United States Treasur yields. PacifiCorp
anticipates using the proceeds from the issuace of the Bonds for the acquisition of property and
for construction, completion, extension or improvement of utilties facilties.
We anticipate the transaction will close on or about July 17,2008, and we intend to provide the
Commission a post-closing issuance notice, which notice wil include all other information
required pursuant to the referenced order, in a timely maner.
Please contact me if you have any questions about this matter.
Sincerely,~t.W~
Bruce N. Wiliams
Vice President and Treasurer
cc: Terr Carlock (Idaho Commission)
Ted Weston (PacifiCorp)
JeffErb (PacifiCorp)
Evan Reynolds (Perkins Coie)
s:\CORP JlNdministrative Asst\Lore\Commission Ltr 0307\10 notice FMB Issuance 0308.doc