By Andrea Heisinger
Omaha, Oct. 15 - Idaho Power Co. priced $100 million of 6.25% 30-year first mortgage bonds at a spread of Treasuries plus 135 basis points, a market source said.
The bonds (A3/A) have a price of 99.732 to yield 6.27%, and have a make-whole call at Treasuries plus 25 bps.
Bookrunners were Banc of America Securities LLC, J.P. Morgan Securities Inc. and Wachovia Capital Securities LLC.
Idaho Power, a subsidiary of Idacorp, is based in Boise, Idaho.
| Issuer: | Idaho Power Co.
|
| Issue: | First mortgage bonds
|
| Amount: | $100 million
|
| Maturity: | Oct. 15, 2037 |
|
| Bookrunners: | Banc of America Securities LLC, J.P. Morgan Securities Inc., Wachovia Capital Securities LLC
|
| Coupon: | 6.25%
|
| Price: | 99.732
|
| Yield: | 6.27%
|
| Spread: | Treasuries plus 135 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Trade date: | Oct. 15
|
| Settlement date: | Oct. 18
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A |
|
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