Avista to pay down portion of line of credit with note issue proceeds

By Lisa Kerner

Charlotte, N.C., Nov. 1 - Avista Corp. will repay a portion of the borrowings outstanding under its $400 million committed line of credit using proceeds from a bond placement slated to close in December, according to a form 8-K filed with the Securities and Exchange Commission.

The Spokane, Wash.-based energy company agreed to privately place $85 million of 4.45% first mortgage bonds due 2041 with institutional investors.

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