-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PNVCSpX3c9Qns4j8Q7Nv/3eDlrim/GAfYjXzI8ImzFdgwJWahWGd8PShUkfE05Xq TBSFo+d8WDeRyt0ulIwP4Q== 0000950135-06-002094.txt : 20060403 0000950135-06-002094.hdr.sgml : 20060403 20060403160038 ACCESSION NUMBER: 0000950135-06-002094 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060403 ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant FILED AS OF DATE: 20060403 DATE AS OF CHANGE: 20060403 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SIERRA PACIFIC RESOURCES /NV/ CENTRAL INDEX KEY: 0000741508 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 880198358 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08788 FILM NUMBER: 06733491 BUSINESS ADDRESS: STREET 1: PO BOX 30150 STREET 2: 6100 NEIL RD CITY: RENO STATE: NV ZIP: 89511 BUSINESS PHONE: 7758344011 MAIL ADDRESS: STREET 1: P O BOX 30150 STREET 2: 6100 NEIL ROAD CITY: RENO STATE: NV ZIP: 89511 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEVADA POWER CO CENTRAL INDEX KEY: 0000071180 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 880045330 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 002-28348 FILM NUMBER: 06733492 BUSINESS ADDRESS: STREET 1: 6226 W SAHARA AVE CITY: LAS VEGAS STATE: NV ZIP: 89146 BUSINESS PHONE: 7023675000 MAIL ADDRESS: STREET 1: P O BOX 230 CITY: LAS VEGAS STATE: NV ZIP: 89151 FORMER COMPANY: FORMER CONFORMED NAME: SOUTHERN NEVADA POWER CO DATE OF NAME CHANGE: 19701113 8-K 1 b60094kce8vk.htm FORM 8-K - SIERRA PACIFIC RESOURCES, INC. e8vk
 

 
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
Date of Report (Date of Earliest Event Reported) April 3, 2006
 
             
Commission   Registrant, Address of Principal   I.R.S. employer   State of
File Number   Executive Offices and Telephone Number   Identification Number   Incorporation
 
            
1-08788
  SIERRA PACIFIC RESOURCES   88-0198358   Nevada
 
  P. O. Box 10100 (6100 Neil Road)        
 
  Reno, Nevada 89520-0400 (89511)        
 
  (775) 834-4011        
 
            
2-28348
  NEVADA POWER COMPANY   88-0420104   Nevada
 
  6226 West Sahara Avenue        
 
  Las Vegas, Nevada 89146        
 
  (702) 367-5000        
 
            
     
None
(Former name, former address and former fiscal year, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 

2.03 — Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
     On April 3, 2006, Nevada Power Company (“NPC”), a wholly-owned subsidiary of Sierra Pacific Resources, issued and sold $250 million of its 6.650% General and Refunding Mortgage Notes, Series N, due 2036 (the “Series N Notes”). NPC will pay interest on the Series N Notes on April 1 and October 1 of each year, beginning on October 1, 2006. The Series N Notes will mature on April 1, 2036. The Series N Notes were issued to Qualified Institutional Buyers under Rule 144A with registration rights.
     The net proceeds of the issuance, together with available cash, will be used to fund the redemption of $35,000,000 aggregate principal amount of NPC’s 8.50% Series Z First Mortgage Bonds due 2023, plus approximately $1 million of associated redemption premiums, $105 million aggregate principal amount of 6.70% Industrial Development Revenue Bonds, Series 1992A, due 2022, which are secured by a like principal amount of NPC’s First Mortgage Bonds, and approximately $122,548,000 aggregate principal amount of NPC’s 8.20% Junior Subordinated Debentures due 2037.
Restrictions
     The Series N Notes contain restrictions on liens (other than permitted liens, which include liens to secure certain permitted debt) and certain sale and leaseback transactions. There are also limitations on certain fundamental structural changes to NPC and limitations on the disposition of property. In the event of a change of control of NPC, the holders of the Series N Notes are entitled to require that NPC repurchase their Series N Notes for a cash payment equal to 101% of the aggregate principal amount plus accrued and unpaid interest.
Cross-Defaults/Acceleration Events
     In addition to customary default and acceleration events, the terms of the Series N Notes provide that in the event that NPC or any of its restricted subsidiaries defaults with respect to the payment of principal, interest or premium beyond the applicable grace period under any mortgage, indenture or other security instrument relating to debt in excess of $15 million, the holders of the Series N Notes have the right to require that NPC redeem their Series N Notes, at a price equal to 100% of the aggregate principal amount plus accrued and unpaid interest and liquidated damages, if any, upon notice given by at least 25% of the outstanding noteholders. Since the Series N Notes were issued under NPC’s General and Refunding Mortgage Indenture, a failure to redeem the Series N Notes would trigger a default with respect to all of the securities issued under NPC’s General and Refunding Mortgage Indenture.
Optional Redemption
     NPC may redeem the notes at its option at any time, in whole or in part, at a price of 100% of the principal amount of the Series N Notes being redeemed plus a make-whole premium.

 

 

Signatures
     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrants have each duly caused this report to be signed on their behalf by the undersigned, thereunto duly authorized.
         
  Sierra Pacific Resources
(Registrant)
 		  
Date: April 3, 2006  By:   /s/ John E. Brown    
    John E. Brown   
    Controller   
 
  Nevada Power Company
(Registrant)
 		  
Date: April 3, 2006  By:   /s/ John E. Brown    
    John E. Brown   
    Controller   
 

 

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