20090106Notice of Proposed Issuance.pdf

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Bruce N. Willams
Vice President and Treasurer
Pacific Power I PacifiCorp Energy
Rocky Mountain Power
825 NE Multnomah, Suite 1900 LeT
Portland, Oregon 97232January 5, 2009 LOng JAN -6 PH 12141
VIA FACSIMILE AND OVERNIGHT CO_~§JdÓ~,~i,:i\~S¡ON
Idaho Public Utilty Commission
Statehouse
472 West Washington Street
Boise, ID 83720
ATTN:Ms. Jean D. Jewell
Commission Secretary
Re: Case No. PAC-E-07-16:
Order No. 30489
In the matter of the Application of Rocky Mountain
Power for authority to (l) 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 purpose entities.
Dear Commissioners:
Pursuant to Order No. 30489, PacifiCorp is hereby providing notice to the Commission of the
proposed issuance of approximately $600 milion or more of the Company's First Mortgage
Bonds.
The Bonds wil have a maturty 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 350
basis points. At the present time this would result in a coupon interest rate of approximately
6.00% and 6.375% respectively. The Bonds are expected to be redeemable at the Company's
option at redemption prices dependent upon United States Treasury yields. PacifiCorp
anticipates using the proceeds from the issuance of the Bonds for the retirement of short-term
debt, acquisition of property and for construction, completion, extension or improvement of
utilties facilties.
We anticipate the transaction wil close on or about January 8, 2009 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,
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s:\CORP _FINdministrative Asst\Bruce\AlI State Applicatons\IPUC Securites Issuance Template.doc
. .
cc: Terri Carlock (Idaho Commission)
Ted Weston (PacifiCorp)
Jeff Erb (PacifiCorp)
Evan Reynolds (Perkins Coie)
S:\CORP _FINdministrative Asst\ruce\AlI State Applica1ions\IPUC Securites Issuance Template.doc