New Issue: Tucson Electric Power prices $300 million 4.85% 30-year notes at 155 bps spread

By Cristal Cody

Tupelo, Miss., Nov. 26 – Tucson Electric Power Co. sold $300 million of 4.85% 30-year senior notes (A3/A-) at 99.623 to yield 4.874%, or a spread of 155 basis points over Treasuries, on Monday, according to an FWP filing with the Securities and Exchange Commission.

MUFG, Scotia Capital (USA) Inc. and U.S. Bancorp Investments, Inc. were the bookrunners.

The electric utility is based in Tucson, Ariz.

Issuer:	Tucson Electric Power Co.
Amount:	$300 million
Description:	Senior notes
Maturity:	Dec. 1, 2048
Bookrunners:	MUFG, Scotia Capital (USA) Inc. and U.S. Bancorp Investments, Inc.
Co-managers:	BB&T Capital Markets, BBVA Securities Inc., BNY Mellon Capital Markets, LLC, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC
Coupon:	4.85%
Price:	99.623
Yield:	4.874%
Spread:	Treasuries plus 155 bps
Call features:	Make-whole call at Treasuries plus 25 bps before June 1, 2048; thereafter at par
Trade date:	Nov. 26
Settlement date:	Nov. 29
Ratings:	Moody’s: A3
	S&P: A-
Distribution:	SEC registered

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