E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 6/20/2005 in the Prospect News High Yield Daily.

Sierra Pacific Resources sells $240 million floaters

By Paul A. Harris

St. Louis, June 20 - Sierra Pacific Resources announced it has completed the private placement of $240 million of short-term floating-rate senior notes in a Rule 144A transaction.

The notes rank equally with the company's other senior debt.

Proceeds will be used to make an equity contribution to its subsidiary, Nevada Power Co., and for general corporate purposes.

No other details were disclosed in the news release, and the company did not immediately return a telephone call from Prospect News.

The issuer is a Reno, Nev.-based holding company whose principal subsidiaries are Nevada Power Co. and Sierra Pacific Power Co.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.