New Issue-Nevada Power sells $500 mln in 10-yr notes
July 25 (Reuters) - Nevada Power Co., a unit of Sierra Pacific Resources (SRP.N: Quote, Profile, Research, Stock Buzz), on Friday sold $500 million in 10-year general and refunding mortgage notes, according to IFR, a Thomson Reuters publication.
The size of the deal was increased from an originally planned $400 million.
Banc of America Securities, Barclays Capital, and Citigroup Global Markets were the joint bookrunning managers for the sale. BORROWER: NEVADA POWER COMPANY AMT $500 MLN COUPON 6.50 PCT MATURITY 8/1/2018 TYPE MTG NOTES ISS PRICE 99.673 FIRST PAY 2/1/2009 MOODY'S Baa3 YIELD 6.545 PCT SETTLEMENT 7/30/2008 S&P TRIPLE-B SPREAD 245 BPS PAY FREQ SEMI-ANNUAL FITCH BBB-MINUS MORE THAN TREAS MAKE-WHOLE-CALL 40 BPS* *INCLUDES COC PUT AT 101.
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