Nevada Power to repay $150 million revolver debt with offering proceeds

Pittsburgh, Nov. 9 - Nevada Power Co., a subsidiary of Sierra Pacific Resources, will repay $150 million outstanding under its $350 million revolving credit facility with Union Bank of California using proceeds of its offering of $250 million offering of general and refunding mortgage notes series L due 2015, according to a company news release.

The company will also use proceeds to pay fees, costs, expenses and capital expenditures incurred in connection with the acquisition and construction of the Lenzie Generating Station and for general corporate purposes.

Nevada Power is a Las Vegas regulated public utility engaged in the distribution, transmission, generation, purchase and sale of electric energy.

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