By Andrea Heisinger
New York, Oct. 5 - Tri-State Generation & Transmission Association Inc. reopened its issue of 6% first mortgage bonds due 2040 to add $100 million, a market source away from the trade said late Tuesday.
The bonds (Baa1/A/) priced at 107.264 to yield 5.5% with a spread of Treasuries plus 176 basis points.
Total issuance is $500 million, including $400 million priced on June 3 at 187.5 bps over Treasuries.
Credit Suisse Securities was the bookrunner.
The electric cooperative is based in Westminster, Colo.
| Issuer: | Tri-State Generation & Transmission Association Inc.
|
| Issue: | First mortgage bonds
|
| Amount: | $100 million, reopened
|
| Maturity: | June 15, 2040
|
| Bookrunner: | Credit Suisse Securities
|
| Coupon: | 6%
|
| Price: | 107.264
|
| Yield: | 5.5%
|
| Spread: | Treasuries plus 176 bps
|
| Trade date: | Oct. 5
|
| Settlement date: | Oct. 8
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A
|
| Total issuance: | $500 million, including $400 million priced on June 3 at 187.5 bps
|
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