Sierra Pacific Power sells $450M of 6.200% junior subordinated notes due 2055

SIERRA PACIFIC POWER CO

Sold $450M aggregate principal amount of 6.200% Fixed-to-Fixed Reset Rate Junior Subordinated Notes, SPPC JSN Series 2025A, due 2055.
Interest fixed at 6.200% through Dec 15, 2030, then resets to Five-year U.S. Treasury Rate plus 2.549% every five years.
Notes are unsecured, rank junior to all senior debt, and mature Dec 15, 2055; redeemable at par (or 102% after a Rating Agency Event).
Net proceeds to be used for capital expenditures and general corporate purposes.

item 8.01item 9.01

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