20180711Notice of Issuance.pdf

\PacrrrCoRp RECEIVED
2018 JUL I I AH 9: ltr
Pacific Power I
Rocky Mountain Powcr
825 NE Multnomah, Suite 2000
Portland. Oregon 97232
July 10,2018
YA ELECTRONIC FILING AND
OVERNIGHT DELIVERY
Diane Hanian
Commission Secretary
Idaho Public Utility Commission
472 W est Washington Street
Boise,lD 83720
RE CASE NO. PAC.E.14.O5IN TIIE MATTER OF THE APPLICATION OF ROCKY MOTINTAINpowER FoR AUTHORITY TO (1) ISSUE Ar\D SELL OR EXCTTANGE NOT
MORE THAN $1,575,000,000 OF DEBT, AND (2) ENTER INTO CREDIT
ST]PPORT ARRANGEMENTS
Dear Ms. Hanian:
Pursuant to Order No. 33083, in the above referenced matter, PacifiCorp is hereby providing the
Commission notice of the proposed issuance of approximately $600 million of First Mortgage
Bonds.
The Bonds are expected to be issued in one series with a maturity of 30 years. Expectations are
that the Bonds will be issued at spreads over the corresponding United States Treasury Bond
Benchmark of approximately 117 basis points. Based on the current benchmark this would result
in coupon interest rates of approximately 4.125%. The Bonds are expected to be redeemable at
the Company's option at redemption prices dependent upon United States Treasury yields,
except during the six months prior to maturity where the Bonds may be redeemed at par.
PacifiCorp anticipates using the proceeds from the issuance of these Bonds for the acquisition of
property, for construction, completion, extension, or improvement of Company facilities and for
general corporate pulposes including retirement of short-term debt.
The Company anticipates a transaction closing date on or about July 13, 2018 and will provide
the Commission with a post-closing issuance notice, which will include all other information
required pursuant to the above referenced order, in a timely manner thereafter.
Idaho Public Utility Commission
July 10,2018
Page2
Please contact me at [phone] if you have any questions about this matter
Sincerely,
Weems
rce President, Controller and Asst. Treasurer
Terri Carlock (Idaho Commission)
Ted Weston (PacifiCorp)
JeffErb @acifiCorp)
Chris Hall (Perkins Coie)
cc: