Nevada Power to start brief roadshow Tuesday for $350 million 10-year notes

By Paul A. Harris

St. Louis, Aug. 8 - A brief roadshow is set to get underway Tuesday for Nevada Power Co.'s offering of $350 million of general and refunding mortgage notes series G due 2013 (Ba2/BB), according to an informed source.

The deal is expected to price during the week of Aug. 11, the source added.

Merrill Lynch & Co. is bookrunner on the Rule 144A offering. Lehman Brothers is co-manager.

Proceeds from the 10-year non-call-five notes will be used to repay maturing debt including $210 million of 6% notes due Sept. 15, 2003 and $140 million of floating-rate general and refunding mortgage notes series B due Oct. 15, 2003.

The company, a subsidiary of Sierra Pacific Resources, is a Las Vegas-based regulated public utility.

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