Nevada Power plans $125 million offering of five-year notes

By Andrea Heisinger

New York, Jan. 6 - Nevada Power Co., which does business as NV Energy, announced Tuesday that it will price a $125 million issue of five-year general and refunding mortgage notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes are likely to price Wednesday, a source close to the deal said.

The notes will carry a change-of-control put of 101%.

Bookrunner is UBS Investment Bank, with co-manager Commerzbank Corporates and Markets.

Proceeds will be used to repay amounts outstanding under a revolving credit facility with Wachovia Bank NA.

The electric company is based in Las Vegas.

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