SIERRA PACIFIC POWER CO: debt financing — Sierra Pacific Power issues $400M 5.9% notes due 2054

SIERRA PACIFIC POWER CO

Completed sale of $400M aggregate principal of 5.900% General and Refunding Mortgage Notes due 2054.
Interest payable semi-annually starting March 15, 2024; notes mature March 15, 2054.
Proceeds to fund capex, repay short-term borrowings used to redeem prior 3.375% Series T notes.
Company entered into registration rights agreement; failure to register could trigger 0.25%-0.50% additional interest per annum.
Corrected prior 8-K error regarding Events of Default under the G&R Indenture.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

SIERRA PACIFIC POWER CO incurred senior notes of $400 million with The Bank of New York Mellon Trust Company, N.A. at 5.900% maturing March 15, 2054.

Instrument: senior notes
Principal: $400 million
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Rate: 5.900%
Maturity: March 15, 2054
Event: incurrence

Exact text from the filing

On September 15, 2023, Sierra Pacific Power Company (the “Company”), completed the sale of $400 million in aggregate principal amount of its 5.900% General and Refunding Mortgage Notes, SPPC Series 2023A, due 2054 (the "Notes") pursuant to a Purchase Agreement dated September 13, 2023, between the Company and representatives of the purchasers.

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Source: SEC EDGAR

accession 0000090144-23-000009

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