By Lisa Kerner
Charlotte, N.C., Jan. 4 - Avista Corp. issued a total of $50 million of 1.68% first mortgage bonds to institutional investors in the private placement market, according to a form 8-K filing with the Securities and Exchange Commission.
The bonds mature on Dec. 30, 2013.
Net proceeds of $49.8 million were used to repay a portion of the borrowings outstanding under the company's $320 million committed line of credit.
The issuance was made under an amended and supplemented mortgage and deed of trust dated June 1, 1939, from Avista, a Spokane, Wash.-based energy company, to Citibank, NA.
| Issuer: | Avista Corp.
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| Issue: | First mortgage bonds
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| Amount: | $50 million
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| Coupon: | 1.68%
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| Maturity: | Dec. 30, 2013
|
| Settlement date: | Dec. 30
|
| Distribution: | Private placement
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