20230504Cover Letter and Application.pdf

May 4, 2023

State of Idaho
Idaho Public Utilities Commission
Statehouse
Boise ID 83720

Attention: Jean D. Jewell, Secretary

Transmitted herewith are the processing check of $1,000 and legal notices to be
published in the Lewiston Tribune and the Coeur d’Alene Press related to our
application requesting authorization to enter into a credit facility of up to
$600,000,000. If other applicable data or documents become available, they will be
forwarded to your attention.

If any questions arise or additional information is needed, please do not hesitate to
contact Karrie Wilson at 509-495-2345.

Sincerely,

Jason E. Lang
Assistant Treasurer

Enclosures
RECEIVED
2023 May 4, 11:14AM
IDAHO PUBLIC
UTILITIES COMMISSION
CASE NO. AVU-E-23-05
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BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION
In the Matter of the Application of
AVISTA CORPORATION for an Order authorizing
a Credit Facility not to exceed $600,000,000 CASE NO.
Application is hereby made by Avista Corporation ("Avista" or "Applicant") to the Idaho Public
Utilities Commission under the provisions of Section 61-901 and 61-902, Idaho Code (Laws of
1951, Chapter 143) for an Order authorizing Avista to amend, amend and restate, or replace
its current credit facility with a credit facility under which Avista may borrow an aggregate
principal amount of up to $500,000,000 at any time outstanding, with an option to increase
such amount to $600,000,000, with an initial term of up to five (5) years, and also potentially
including an option to extend the initial term prior to its expiration for up to five (5) additional
years, and in connection therewith to offer, issue and sell certain secured or unsecured bonds
(including First Mortgage Bonds issued under Avista's Mortgage and Deed of Trust, dated
June 1, 1939, as amended and supplemented), notes and other evidences of indebtedness,
including any refunding, extension, renewal or replacement of such credit facility or any of the
foregoing (collectively, the "Credit Facility"). The Credit Facility may be secured and will
replace Avista's current credit facility that expires in June of 2026 and will provide for a
benchmark interest rate based on the Secured Overnight Financing Rate ("SOFR") to replace
the existing benchmark interest rate based on the London Interbank Offered Rate ("LIBOR").
The following information and specific exhibits are furnished in support thereof:
(a)
(b)
Name and address of principal business office:
Avista Corporation
1411 East Mission Avenue
Spokane WA 99202-2600
Name of representative for service:
Jason E. Lang, Assistant Treasurer and Director of Finance and Risk
Avista Corporation
1411 East Mission Avenue
Spokane, Washington 99202-2600
Phone: [phone]
State and date of incorporation:
(c)
Incorporated Washington Territory (now the State of Washington) on March 15, 1889.
The term of incorporation is perpetual.
States in which qualified to do business:
Washington, Idaho, Montana, and Oregon.
General description of business, property, and territory served:
The Applicant is a public utility which owns and operates property in Eastern
Washington, Northern Idaho, Western Montana, and Central & Southwest Oregon.
The Applicant is engaged in the generation, transmission , distribution, and sale of
electric energy, which it sells at retail to approximately 406 ,000 residential, commercial,
and industrial customers in Eastern Washington, Northern Idaho and Western Montana,
and at wholesale to public utilities, municipalities and others. Its electric properties are
operated as a unified system and are interconnected with adjacent electric utilities. The
electric energy sold by the Applicant is generated in power stations, which it owns in
whole or in part, or obtained by purchase or exchange from other parties.
The Applicant is also engaged in the distribution and sale of natural gas to
approximately 372,000 residential, commercial and industrial customers in Eastern
Washington, Northern Idaho, and Central & Southwest Oregon.
(d) Description of securities, indebtedness or liabilities:
Pursuant to Rule 142 of the Rules of Practice and Procedure, the Applicant hereby files
the application filed with the Washington Utilities and Transportation Commission as
Exhibit "D-1" in lieu of the application required by Rule 141. Applicant further states
that:
( 1) Applicant has published or will have published within seven days of the date of
filing this Application a notice in those newspapers listed in Rule 141 .08 of the
Rules of Practice and Procedure of the Idaho Public Utilities Commission that
are in general circulation in Applicant's service area.
(2) Attached Exhibits:
Exhibit D-1 Copy of Washington Application
3rd May
Exhibit D-2 Form of Idaho Order
WHEREFORE, the Applicant respectfully requests the Idaho Public Utilities Commission issue
an Order authorizing Avista to amend, amend and restate, or replace its current credit facility
with a Credit Facility under which Avista may borrow an aggregate principal amount of up to
$500,000,000 at any time outstanding, with an option to increase such amount to
$600,000,000, with an initial term of up to five (5) years, and also potentially including an option
to extend the initial term prior to its expiration for up to five (5) additional years, and in
connection therewith to offer, issue and sell certain secured or unsecured bonds (including
First Mortgage Bonds issued under Applicant's Mortgage and Deed of Trust, dated June 1,
1939, as amended and supplemented), notes and other evidences of indebtedness, for the
purposes described in this Application, with continuing authority to refund, extend, renew or
replace the same without further order of the Commission.
Dated to Spokane, Washington, this _ day of __ 2023
AVISTA CORPORATION
B /-~-,. _y~
Jason E. Lang
Assistant Treasurer and Director of Finance and Risk
STATE OF WASHINGTON
County of Spokane
Jason E. Lang, being duly sworn, under penalty of perjury deposes and says: That he is
Assistant Treasurer and Director of Finance and Risk of AVISTA CORPORATION; that he has
read the foregoing application and knows the contents thereof; and that the same is true of his
own knowledge and belief, and as to those matters he believes them to be true.
Jason E. Lang
Assistant Treasurer and Director of Finance and Risk
SUBSCRIBED AND SWORN to before me this.51't'iday of ci._4023
Notary Public for Washington