20120229Notice of Proposed Issuance.pdf

~ ~~ÇtEf9B~RECEIVED Paifc Por I
Rocky Mountin Por IPadiC Ene
825 NE Multomah, Suit 1900 LeT
Portland, Ore 9n322017 FEB 29 PH 12: 58
iDAHO PUt~iL¡C
UTILITIES COMMISSION
Februar 28,2012
VIA FACSIMILE AND OVERNIGHT COURIER
Idaho Public Utility Commission
Statehouse
472 West Washington Street
Boise, ID 83720
ATTN:Ms. Jean D. Jewell
Commission Secreta
Re: Case No. PAC-E-10-02:
Order No. 31018
In the matter of the Application ofPacifiCorp DBA
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-purose entities.
Dear Commissioners:
Pursuat to Order No. 31018, PacifiCorp is hereby providing notice to the Commission of the
proposed issuance of approximately $100 milion of the Company's First Mortgage Bonds.
The Company expects to issue an additional $100,000,000 of its 2.95%series first mortgage
bonds due 2022. It is expected that the bonds will be issued at a premium or discount so that
the yield will equal the 10 year United States Treasur Benchmark plus approximately 105
basis points. At the present time the yield on the proposed issuance would be approximately
2.95%. The Bonds are expected to be redeemable at the Company's option at redemption
prices dependent upon United States Treasur yields except that durng the 3 months prior to
maturty the Bonds may be redeemed at par.
PacifiCorp anticipates using the proceeds from the issuance of the Bonds for refuding of
certin ta-exempt bond obligations, the retirement of short-term debt, acquisition of
property and for constrction; completion, extension or improvement of utilties facilities.
We anticipate the transaction will close on or about March 6, 2012 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,~NU~
Bruce N. Wiliams
Vice President & Treasurer
cc: Terri Carlock (Idaho Commission)
Ted Weston (PacifiCorp)
JeffErb (PacifiCorp) .
Chris Hall (Perkins Coie)