Nevada Power will offer two-year general and refunding mortgage notes

By Devika Patel

Knoxville, Tenn., April 9 – Nevada Power Co. expects to price general and refunding mortgage notes, series BB, due 2020, according to a 424B5 filed with the Securities and Exchange Commission.

The notes feature a make-whole call.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, TD Securities (USA) LLC, U.S. Bancorp Investments Inc. and PNC Capital Markets LLC are the bookrunners.

Proceeds will be used to repay $325 million of the company’s 6.5% general and refunding mortgage notes, series O, due May 2018, to repay some of its $500 million of 6.5% general and refunding mortgage notes, series S, due August 2018 and for general corporate purposes.

The electric utility is a wholly owned subsidiary of Las Vegas-based NV Energy, Inc., which provides energy services.

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