HomeMy WebLinkAbout20161214Verified Report.pdfEXECUTIVE OFFICES
INTERMOUNTAIN GAS COMPANY
555 SOUTH COLE ROAD • P.O. BOX 7608 • BOISE, IDAHO 83707 • (208) 377-6000 • FAX: 377-6097
December 14, 2016
Ms. Jean Jewell
Commission Secretary
Idaho Public Utilities Commission
472 W. Washington St.
P.O. Box 83720
Boise, JD 83720-0074
RE: Case No. INT-G-16-04
Dear Ms. Jewell:
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In accordance with the prescribed Rules of Procedure governing the issuance of securities by utilities under
the jurisdiction of this Commission, Intermountain Gas Company hereby files three (3) copies of the
Verified Report that details costs and expenses incurred in connection with the issuance of the Company's
Unsecured Debt Securities.
Please acknowledge receipt of this filing by returning a stamped copy of this letter for our Company files .
If you should have any questions or require additional information regarding the attached, please contact me
at 377-6168.
Director-Regulatory Affairs
lntermountain Gas Company
Enclosures
cc: Scott Madison
Mark Chiles
Ronald L. Williams
BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION
In the Matter of the Application of
INTERMOUNT AIN GAS COMPANY
for Authorization to Issue and Sell
Securities
Case No. INT-G-16-04
VERIFIED REPORT
On September 15th, 2016, Intermountain Gas Company ("Intermountain" or "Company"), a
subsidiary of MDU Resources Group, Inc., applied to the Commission under Idaho Code§§ 61-901,
et seq. for authority to issue Unsecured Notes, not to exceed $50,000,000, for a period of up to thirty
(30) years. The Company filed an amendment on October 4, 2016, requesting maturing dates be
authorized for up to 40 years. This Application was supported by the necessary exhibits and other
data in accordance with the prescribed Rules of Procedure governing the issuance of securities by
utilities under the jurisdiction of this Commission.
After having fully considered the Company's Application and exhibits attached to it, this
Commission on October 13, 2016 issued its Order No. 33620 approving the Application and
authorizing the issuance and sale of such unsecured notes.
In accordance with Rule 143 of the Rules of Procedure of this Commission, Intermountain
does hereby submit its Verified Report on the proceeds received from the private sale of such
unsecured notes, the disposition of such proceeds, and the costs and expenses incurred in connection
with the private placement.
I.
Intermountain issued and sold $20,000,000 and $10,000,000 of unsecured notes for a period
of forty (40) years at 4.00% to Teacher Insurance & Annuity Association of America and United of
Omaha Life Insurance Company, respectively. The total proceeds of this issuance of $30,000,000
were received on November 9, 2016.
II.
The total proceeds of this issuance were used to provide for capital expenditures and working
capital, reduce the Company's Revolving Credit Agreement and for general corporate purpose needs
of Intermountain.
III.
The costs and expenses incurred in connection with this private placement totaled $128,715,
itemized as follows:
Placement Agent Fees
Legal Fees
IPUC filing Fee
IV.
$90,000
37,715
1,000
$128,715
This Verified Report is filed pursuant to the applicable statues and the Rules of this
Commission and is respectfully submitted for the information and records of this Commission.
DATED at Boise, Idaho, this 14th day of December, 2016.
INTERMOUNTAIN GAS COMPANY