20200514Supplemental Information.pdf

May 14, 2020
Commission Secretary
Idaho Public Utilities Commission
11331 W. Chinden Blvd
Building 8, Suite 201-A
Boise, ID 83714
Via Email: [e-mail]
Re: CASE NO. AVU-U-20-01 - In the Matter of the Application of Avista Corporation for an
Order authorizing the offering, issuance and sale of Debt Securities not to exceed $500,000,000. Avista Corporation’s Submission of Supplemental Information
Commission Secretary:
Further to my letter of April 21, 2020, Avista’s lenders have informed Avista that the borrowing
spreads for Alternate Base Rate (ABR) loans have increased since we provided the Commission
with updated rates and fees.
Avista still believes it has sufficient authority from the Commission under Order No. 34604. However, Avista is requesting an amendment to the order from the Oregon Public Utility Commission in light of this change, and informing (but not requesting further action by) the
Washington Utilities and Transportation Commission as a result of this change. Avista therefore
provides this update to keep all three commissions equally informed.
Only the following new estimated borrowing spreads for ABR Loans have changed from the information previously provided:
Pricing
Level ABR Margin
I 0.000%
II 0.000%
III 0.075%
IV 0.150%
V 0.250%
VI 0.450%
Alternate Base Rate Margin applies loans bearing interest at the Alternative Base Rate. The Alternative Base Rate is reset daily to whichever is the greatest of (a) the Prime Rate, (b) the Federal Funds Rate plus ½ of 1%, (c) 30 day LIBOR rate plus 1.00%.
Finally, given constraints from working at home, it is difficult to obtain an official notarized
verification. That said, I certify (or declare) under penalty of perjury under the laws of the State
of Idaho that the foregoing is true and correct.
RECEIVED
2020 May 14PM4:42
IDAHO PUBLIC
UTILITIES COMMISSION
Please direct any questions related to this updated information to Patrick Ehrbar at 509.495.8620.
Sincerely,
/s/ David J. Meyer
David J. Meyer Vice President, Chief Counsel for Regulatory
& Governmental Affairs