By Lisa Kerner
Charlotte, N.C., Nov. 1 - Avista Corp. entered into a bond purchase agreement to privately place $85 million of 4.45% first mortgage bonds due 2041 with institutional investors, according to a form 8-K filed with the Securities and Exchange Commission.
Proceeds will be used to repay a portion of the borrowings outstanding under the company's $400 million committed line of credit.
Avista will issue the bonds at closing in December.
The bonds have not been, and will not be, registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration.
Avista is a Spokane, Wash.-based energy company.
| Issuer: | Avista Corp.
|
| Issue: | First mortgage bonds
|
| Amount: | $85 million
|
| Maturity: | 2041
|
| Coupon: | 4.45%
|
| Pricing date: | Nov. 1
|
| Settlement date: | December
|
| Distribution: | Private placement
|
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