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Avista to repay $70 million term loan, some credit line borrowings
By Marisa Wong
Morgantown, W.Va., Dec. 16 – Avista Corp. will repay a $70 million term loan due Dec. 30, 2016 and a portion of borrowings outstanding under its $400 million committed line of credit using proceeds from a private placement of bonds.
The company issued $175 million of 3.54% first mortgage bonds due 2051 to institutional investors on Thursday, according to an 8-K filing with the Securities and Exchange Commission.
Avista is a Spokane, Wash.-based energy company.
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