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Avista issues $100 million mortgage bonds; British Empire places £30 million, €30 million
By Lisa Kerner
Charlotte, N.C., Dec. 18 – Avista Corp. issued $100 million of 4.37% first mortgage bonds due 2045 to five institutional investors on Dec. 16.
Proceeds were used to repay a portion of the borrowings outstanding under the company’s $400 million committed line of credit and for general corporate purposes, according to an 8-K filing with the Securities and Exchange Commission.
Avista is a Spokane, Wash.-based energy company.
British Empire Trust plc agreed to issue fixed-rate, 20-year unsecured private placement notes to obtain fixed-rate, long-dated sterling- and euro-denominated financing.
The notes will be issued in two tranches of £30 million and €30 million, according to a news release.
The blended annualized cost of the new debt is 3.79%, and funding is expected to occur on Jan. 15.
The notes are due to be repaid on Jan. 15, 2036.
British Empire is a London-based investment trust.
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