HomeMy WebLinkAbout20150619Notice of Issuance.pdfYPacrnEonp
June 16,2015
VIA FACSIMILE AIID OVERNIGHT COURIER
Idaho Public Utility Commission
Statehouse
472 W est Washington Street
Boise,lD 83720
ATTN:Ms. Jean D. Jewell
Commission Secretary
Re: Case No. PAC-E-14-05
Order No. 33083
Pacific Powcr l
Rocky Mountain Powcr
825 NE Multnomah, Suite 2000
Portland. Oregon 97232Ifiii Juill l9 fl,tt 9' h3
t L. l ., ' - ,
i i i tLl'i :l;r::, :r",'iii ;i,:;l"ilr...,r
In the maffer of Rocky Mountain Power's application
for authority to (l) issue and sell or exchange up to
$1,575,000,000 of Deb! (2) enter into credit support
arrangements.
Dear Commissioners:
Pursuant to Order No. 33083, PacifiCorp is hereby providing notice to the Commission of the
proposed issuance of approximately $250 million of the Company's First Mortgage Bonds.
The Bonds are expected to be issued in one series with a maturity of l0 years. Current
indications are that the Bonds will be issued at spreads over the corresponding United States
Treasury Bond Benchmark of approximately 105 basis points. At the present time this would
result in coupon interest rates of approximately 3.40%. The Bonds are expected to be
redeemable at the Company's option at redemption prices dependent upon United States
Treasury yields except that during the 3 months prior to maturity the Bonds may be
redeemed at par. PacifiCorp anticipates using the proceeds from the issuance of the Bonds
for the acquisition of property, for construction, completion, extension or improvement of
utilities facilities and for general corporate purposes including retirement of short-term debt.
We anticipate the transaction will close on or about June 19, 2015 and we intend to provide
the Commission a post-closing issuance notice, which notice will include all other
information required pursuant to the referenced order, in a timely manner.
Please contact me if you have any questions about this matter.
Sincerely,t&^-- xt tJJo*"^
Bruce N. Williams
Vice President & Treasurer
Terri Carlock (Idaho Commission)
Ted Weston (PacifiCorp)
JeffErb (PacifiCorp)
Chris Hall (Perkins Coie)