Tucson Electric Power to issue senior notes via five bookrunners

By William Gullotti

Buffalo, N.Y., Feb. 13 – Tucson Electric Power Co. plans to sell senior notes, according to a 424B3 filing with the Securities and Exchange Commission.

The notes will feature a make-whole call followed by a par call.

The joint bookrunning managers for the offering are Truist Securities, Inc., MUFG Securities Americas Inc., Scotia Capital (USA) Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities, LLC. Academy Securities, Inc. is listed as co-manager.

In-house counsel and Morgan Lewis & Bockius LLP are advising the issuer. Bracewell LLP is counsel to the underwriters.

U.S. Bank Trust Co., NA is the trustee.

Proceeds will be used to redeem prior to maturity some or all of the company’s $150 million of 3.85% notes due 2023, some or all of the company’s $90.75 million of 4% tax-exempt bonds due 2029, debt incurred under the company’s $250 million revolving credit facility due 2026 and/or for general corporate purposes.

The electric utility is based in Tucson, Ariz.

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