Pure_Greatness
11年前
NV Energy Commences Tender Offers for Outstanding Notes
Date : 12/19/2013 @ 4:45PM
Source : PR Newswire (US)
Stock : NV Energy, (NVE)
Quote : 23.74 0.03 (0.13%) @ 4:15PM
LAS VEGAS, Dec. 19, 2013 /PRNewswire/ -- NV Energy, Inc. (NYSE:NVE) and its wholly owned subsidiaries, Nevada Power Company d/b/a NV Energy and Sierra Pacific Power Company d/b/a NV Energy (collectively, the "Companies"), announced today that each has commenced tender offers for the entire principal amount outstanding of certain series of notes as further described below. Each of the Companies is making the tender offers in order to comply with the terms of the various series of notes following the closing of the merger of Silver Merger Sub, Inc., a wholly owned subsidiary of MidAmerican Energy Holdings Company ("MidAmerican"), with and into NV Energy, Inc. (the "Merger") pursuant to the Agreement and Plan of Merger dated May 29, 2013. MidAmerican is an indirect wholly-owned subsidiary of Berkshire Hathaway Inc. The Merger closed on December 19, 2013.
(Logo: http://photos.prnewswire.com/prnh/20100825/LA55163LOGO)
NV Energy, Inc.
The following table describes the series of notes subject to the NV Energy, Inc. tender offer (collectively, the "NVE Notes"):
CUSIP No.
Security Description
Principal Amount
Outstanding as of
December 19, 2013
67073Y AA4
6.25% Senior Notes, due 2020
$315,000,000
Nevada Power Company d/b/a NV Energy
The following table describes the series of notes subject to the Nevada Power Company tender offers (collectively, the "NPC Notes"):
CUSIP No.
Security Description
Principal Amount
Outstanding as of
December 19, 2013
641423 BK3
5.875% General and Refunding Mortgage Notes, Series L, due 2015
$250,000,000
641423 BM9
5.95% General and Refunding Mortgage Notes, Series M, due 2016
$210,000,000
641423 BP2
6.65% General and Refunding Mortgage Notes, Series N, due 2036
$370,000,000
641423 BS6
6.50% General and Refunding Mortgage Notes, Series O, due 2018
$325,000,000
641423 BU1
6.75% General and Refunding Mortgage Notes, Series R, due 2037
$350,000,000
641423 BW7
6.5% General and Refunding Mortgage Notes, Series S, due 2018
$500,000,000
641423 BY3
7.125% General and Refunding Mortgage Notes, Series V, due 2019
$500,000,000
641423 BZ0
5.375% General and Refunding Mortgage Notes, Series X, due 2040
$250,000,000
641423 CA4
5.45% General and Refunding Mortgage Notes, Series Y, due 2041
$250,000,000
Sierra Pacific Power Company d/b/a NV Energy
The following table describes the series of notes subject to the Sierra Pacific Power Company tender offers (collectively, the "SPPC Notes"):
CUSIP No.
Security Description
Principal Amount
Outstanding as of
December 19, 2013
826418 BD6
6% General and Refunding Mortgage Notes, Series M, due 2016
$450,000,000
826418 BE 4
6.750% General and Refunding Mortgage Notes, Series P, due 2037
$251,742,000
Under the terms of each of the tender offers, NV Energy, Inc., Nevada Power Company, and Sierra Pacific Power Company have offered to purchase any and all of the outstanding NVE Notes, NPC Notes, and SPPC Notes, respectively, at a purchase price equal to $1,010 per $1,000 principal amount of such notes tendered. The offers will expire at 5:00 p.m., New York City time, on Tuesday, January 21, 2014, unless the offer is extended or earlier terminated by the Companies. Payment for tendered NVE Notes, NPC Notes, and SPPC Notes, plus accrued interest, will be made on the Change of Control Payment Date, which is expected to be on or about January 24, 2014. The terms and conditions of each offer are set forth in a Change of Control Notice and Offer to Purchase, dated December 19, 2013, issued by NV Energy, Inc., Nevada Power Company, or Sierra Pacific Power Company, respectively. In each Change of Control Notice and Offer to Purchase, the Companies state that each will use cash on hand, funds drawn under its credit facility, or loans from third parties to make the Change of Control Payment for the notes tendered pursuant to the offer. In addition, to the extent necessary, the Companies expect MidAmerican, their indirect parent, to advance any remaining funds required to pay the Change of Control payment for the notes. However, based on current market conditions, the Companies do not expect that a significant amount of the notes will be tendered.
The Companies have retained The Bank of New York Mellon Trust Company, N.A. to act as depositary and Morrow & Co., LLC to act as the information agent in connection with each of the tender offers. Requests for documents may be directed to The Bank of New York Mellon Trust Company, N.A.by facsimile at (732) 667-9408 or to Morrow & Co., LLC by telephone at (203) 658-9400. Questions regarding the tender offers may be directed to Morrow & Co., LLC by telephone at (203) 658-9400.
About NV Energy, Inc.
NV Energy, Inc. provides a wide range of energy services to 1.3 million customers throughout Nevada and nearly 40 million tourists annually. NV Energy is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, are doing business as NV Energy. The company is headquartered in Las Vegas, Nevada. Information about NV Energy is available on the company's website, Twitter, Facebook and YouTube pages, which can be accessed via nvenergy.com.
About MidAmerican Energy Holdings Company (MEHC)
MidAmerican Energy Holdings Company, based in Des Moines, Iowa, USA, is a global provider of energy services. Through its energy-related businesses, MidAmerican provides electric and natural gas service to more than 8.4 million customers worldwide. These businesses are Pacific Power, Rocky Mountain Power and PacifiCorp Energy, comprising PacifiCorp; MidAmerican Energy Company; Nevada Power Company and Sierra Pacific Power Company, comprising NV Energy, Inc.; Northern Powergrid (Northeast) Limited and Northern Powergrid Companies (Yorkshire) plc, comprising Northern Powergrid Holdings Company; Northern Natural Gas Company; Kern River Gas Transmission Company; MidAmerican Renewables, LLC; MidAmerican Transmission, LLC; and CalEnergy Philippines. Information about MidAmerican is available at www.midamerican.com.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, the securities of the Companies, nor shall there be any offer, solicitation or sale of any securities of the Companies in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities law of any such state or jurisdiction.
This press release may contain forward-looking statements regarding the future performance of the Companies within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. These risks and uncertainties include, but are not limited to, current and prospective financial conditions, earnings and liquidity, prospective business conditions, regulatory factors, and dividend restrictions in the Companies' financing agreements. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of the Companies are contained in their quarterly reports on Form 10-Q for the periods ending March 31, 2013, June 30, 2013 and September 30, 2013 and their Annual Report on Form 10-K for the year ended December 31, 2012. The Companies undertake no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE NV Energy, Inc.
Pure_Greatness
11年前
Nevada Power Company d/b/a NV Energy Announces Make-Whole Premium Relating to Redemption of Notes
LAS VEGAS, Dec. 4, 2013 /PRNewswire/ -- Nevada Power Company d/b/a NV Energy (the "Company"), a wholly-owned subsidiary of NV Energy, Inc. (NYSE:NVE), announced today that it has established the make-whole premium for each $1,000 principal amount of its 7.375% General and Refunding Mortgage Notes, Series U, due 2014 (the "Notes") which the Company previously announced that it would redeem. The redemption date will be December 9, 2013.
The redemption price for each $1,000 principal amount of the Notes will be $1,006.84, which includes a make-whole premium of $6.84. The Company will also pay accrued and unpaid interest on the Notes to, but not including, the redemption date.
The make-whole premium for the Notes was calculated by J.P. Morgan Securities LLC in accordance with the terms of the Notes. The terms of the redemption are described in the notice of redemption which was sent to the registered holders of the Notes on or about November 8, 2013. Notes are to be surrendered to The Bank of New York Mellon, the Paying Agent, in exchange for payment of the redemption price and accrued interest. Questions relating to, and requests for additional copies of, the notice of redemption should be directed to The Bank of New York Mellon, which can be reached at (800) 254-2826 or by mail at: The Bank of New York Mellon, Attn: Redemption Department, at 111 Sanders Creek Parkway, 2nd Floor, East Syracuse, NY 13057.
Nevada Power Company d/b/a NV Energy is the electric utility for Las Vegas, North Las Vegas, Henderson and adjoining areas in southern Nevada.
Headquartered in Las Vegas, NV Energy, Inc. is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, are doing business as NV Energy. Serving a combined service territory of nearly 46,000 square miles, NV Energy provides a wide range of energy services and products to approximately 2.4 million residents of Nevada and nearly 40 million tourists annually.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, the securities of the Company, nor shall there be any offer, solicitation or sale of any securities of the Company in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities law of any such state or jurisdiction.
This press release may contain forward-looking statements regarding the future performance of the Company within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. These risks and uncertainties include, but are not limited to, current and prospective financial conditions, earnings and liquidity, prospective business conditions, regulatory factors, and dividend restrictions in the Company's financing agreements. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of the Company are contained in its quarterly reports on Form 10-Q for the periods ending March 31, 2013, June 30, 2013 and September 30, 2013 and its Annual Report on Form 10-K for the year ended December 31, 2012. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Pure_Greatness
11年前
NV Energy, Inc. Announces Quarterly Dividend
LAS VEGAS, Nov. 6, 2013 /PRNewswire/ -- NV Energy, Inc. (NYSE: NVE) announced that its board of directors today declared a cash dividend of $0.19 per share, payable on December 18, 2013 to shareholders of record on December 3, 2013.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the future performance of NV Energy, Inc. and its subsidiaries, Nevada Power Company and Sierra Pacific Power Company both doing business as NV Energy. Forward-looking statements include earnings guidance and estimates or forecasts of operating and financial metrics. These statements reflect current expectations of future conditions and events and as such are subject to a variety of risks, uncertainties and assumptions that could cause actual results to differ materially from current expectations. These risks, uncertainties and assumptions include, but are not limited to, the risk that the transaction between NV Energy, Inc. and MidAmerican will not be consummated due to a failure to satisfy the remaining closing conditions to the transaction, including the receipt of regulatory approvals from the PUCN and FERC on the terms and schedules contemplated by the parties; the risk that an event, effect or change occurs that gives rise to a termination of the definitive agreement entered into with MidAmerican; the risk that NV Energy Inc. or MidAmerican will be unable to perform certain obligations under the transaction agreements; the risk relating to unanticipated difficulties and/or expenditures relating to the transaction; the risk that legal proceedings against NV Energy, Inc. and others related to the definitive agreement entered into with MidAmerican will be successful; the risk that the proposed transaction disrupts current plans and operations and creates potential difficulties in employee retention; and the impact of delay or failure to complete the merger with MidAmerican on NV Energy, Inc.'s common stock price. Additional risks and uncertainties relating to NV Energy, Inc. include, but are not limited to, NV Energy Inc.'s ability to maintain access to the capital markets, NV Energy, Inc.'s ability to receive dividends from its subsidiaries, the financial performance of NV Energy, Inc.'s subsidiaries, particularly Nevada Power Company and Sierra Pacific Power Company both doing business as NV Energy, and the discretion of NV Energy, Inc.'s Board of Directors with respect to the payment of future dividends based on its periodic review of factors that ordinarily affect dividend policy, such as current and prospective financial condition, earnings and liquidity, prospective business conditions, regulatory factors, and dividend restrictions in NV Energy, Inc.'s and its subsidiaries' financing agreements. For Nevada Power Company and Sierra Pacific Power Company both doing business as NV Energy, these risks and uncertainties include, but are not limited to, future economic conditions, changes in the rate of industrial, commercial and residential growth in their service territories, their ability to procure sufficient renewable energy sources in each compliance year to satisfy the Nevada Renewable Energy Portfolio Standard, the effect of future or existing Nevada or federal laws or regulations affecting the electric industry, changes in environmental laws and regulations, construction risks, including but not limited to those associated with the ON Line project, their ability to maintain access to the capital markets for general corporate purposes and to finance construction projects, employee workforce factors, unseasonable weather, drought, wildfire and other natural phenomena, explosions, fires, accidents, vandalism, or mechanical breakdowns that may occur while operating and maintaining an electric and natural gas system, their ability to purchase sufficient fuel, natural gas and power to meet their power and natural gas demands for Sierra Pacific Power Company doing business as NV Energy, financial market conditions, and unfavorable rulings, penalties or findings in their rate or other cases. Further risks, uncertainties and assumptions that may cause actual results to differ from current expectations pertain to weather conditions, customer and sales growth, plant outages, operations and maintenance expense, depreciation and allowance for funds used during construction, interest rates and expense, cash flow and regulatory matters. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of NV Energy, Inc., Nevada Power Company and Sierra Pacific Power Company both doing business as NV Energy are contained in their Annual Reports on Form 10-K for the year ended December 31, 2012, and Quarterly Reports on Form 10-Q for the period ended March 31, 2013 and June 30, 2013, as filed with the Securities and Exchange Commission. NV Energy, Inc., Nevada Power Company and Sierra Pacific Power Company both doing business as NV Energy undertake no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Pure_Greatness
11年前
NV Energy Reports Financial Results for Third Quarter 2013, Revises Earnings Guidance
Print
Alert
NV Energy, (NYSE:NVE)
Intraday Stock Chart
Today : Friday 1 November 2013
LAS VEGAS, Nov. 1, 2013 /PRNewswire/ -- NV Energy, Inc. (NYSE: NVE) today announced financial results for the three and nine months ended September 30, 2013 as shown in the table below.
Net Income
EPS
($ in millions)
(diluted)
2013
2012
2013
2012
Three Months
$
187.2
$
223.2
$
0.79
$
0.94
Nine Months
$
271.9
$
304.8
$
1.15
$
1.28
(Logo: http://photos.prnewswire.com/prnh/20100825/LA55163LOGO)
Factors contributing to the earnings decrease in the third quarter of 2013 compared to the same period a year ago included:
a regulatory disallowance and reserves related to September 2013 decisions by the Public Utilities Commission of Nevada ($32.4 million pre-tax, or $0.09 per share after tax);
milder weather compared to the third quarter a year ago; and
costs related to the planned merger with MidAmerican Energy Holdings, a subsidiary of Berkshire Hathaway.
Factors benefiting earnings for the third quarter of 2013 included growth in the number of customers. For further information regarding drivers of financial results, see the Earnings Report to the Financial Community posted on www.nvenergy.com.
"Our cost control efforts are on track, with operating and maintenance expenses virtually unchanged for the year to date," said Michael Yackira, president and chief executive officer of NV Energy, Inc. "We also reached an important milestone in our proposed merger, receiving shareholder approval in the third quarter, and we continue to work on obtaining regulatory approvals for the transaction. Our fundamental mission will remain unchanged: providing our customers with safe, reliable, affordable energy."
Revised Earnings Guidance
In its last earnings guidance statement, made on July 26, 2013, the company said it expected to earn between $1.25 and $1.35 per share for the year 2013. The company now expects to earn between $1.18 and $1.22 per share for the year 2013. The reduction in earnings guidance is largely due to the regulatory disallowance and reserves recorded in the third quarter of 2013. Revised earnings guidance is based on ongoing, normalized earnings for the fourth quarter of 2013, assuming normal weather in the fourth quarter and excluding any unexpected events. For further information on assumptions reflected in earnings guidance, see the Earnings Report to the Financial Community posted on www.nvenergy.com.
Webcast Scheduled for 7 a.m. PDT today, Friday, November 1, 2013
Senior management will review the company's financial performance and outlook during a conference call and live webcast today, Friday, November 1 at 7 a.m. Pacific Daylight Time. The webcast will be accessible on the NV Energy website at www.nvenergy.com. A taped replay will remain on the company's website for approximately 30 days. To listen to the replay by telephone, call (800) 475-6701. International callers should dial (320) 365-3844. Use the conference call access code: 303842.
http://ih.advfn.com/p.php?pid=nmona&article=59835432&symbol=NVE
Pure_Greatness
11年前
NV Energy, Inc. Announces Quarterly Dividend
Date : 08/01/2013 @ 4:57PM
Source : PR Newswire (US)
Stock : NV Energy, (NVE)
Quote : 23.66 -0.03 (-0.13%) @ 9:51AM
NV Energy, Inc. Announces Quarterly Dividend
Print
Alert
NV Energy, (NYSE:NVE)
Intraday Stock Chart
Today : Friday 2 August 2013
LAS VEGAS, Aug. 1, 2013 /PRNewswire/ -- NV Energy, Inc. (NYSE: NVE) announced that its board of directors today declared a cash dividend of $0.19 per share, payable on September 18, 2013 to shareholders of record on September 3, 2013.
(Logo: http://photos.prnewswire.com/prnh/20100825/LA55163LOGO)
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the future performance of NV Energy, Inc. and its subsidiaries, Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy. Forward-looking statements include earnings guidance and estimates or forecasts of operating and financial metrics. These statements reflect current expectations of future conditions and events and as such are subject to a variety of risks, uncertainties and assumptions that could cause actual results to differ materially from current expectations. These risks, uncertainties and assumptions include, but are not limited to, the risk that the transaction between NV Energy, Inc. and MidAmerican will not be consummated due to a failure to satisfy the closing conditions to the transaction, including the approval of the transaction by the NV Energy Inc.'s stockholders and the receipt of certain regulatory approvals; the risk that an event, effect or change occurs that gives rise to a termination of the definitive agreement entered into with MidAmerican; the risk that NV Energy Inc. or MidAmerican will be unable to perform certain obligations under the transaction agreements; the risk relating to unanticipated difficulties and/or expenditures relating to the transaction; the risk of adverse outcomes in legal proceedings instituted against NV Energy, Inc. and others following announcement of the definitive agreement entered into with MidAmerican; and the risk that the proposed transaction disrupts current plans and operations and creates potential difficulties in employee retention. Other factors outside the control of NV Energy, Inc., include, but are not limited to, NV Energy Inc.'s ability to maintain access to the capital markets, NV Energy, Inc.'s ability to receive dividends from its subsidiaries, the financial performance of NV Energy, Inc.'s subsidiaries, particularly Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy, and the discretion of NV Energy, Inc.'s Board of Directors with respect to the payment of future dividends based on its periodic review of factors that ordinarily affect dividend policy, such as current and prospective financial condition, earnings and liquidity, prospective business conditions, regulatory factors, and dividend restrictions in NV Energy, Inc.'s and its subsidiaries' financing agreements. For Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy, these risks and uncertainties include, but are not limited to, future economic conditions, changes in the rate of industrial, commercial and residential growth in their service territories, their ability to procure sufficient renewable energy sources in each compliance year to satisfy the Nevada Renewable Energy Portfolio Standard, the effect of future or existing Nevada or federal laws or regulations affecting the electric industry, changes in environmental laws and regulations, construction risks, including but not limited to those associated with the ON Line project, their ability to maintain access to the capital markets for general corporate purposes and to finance construction projects, employee workforce factors, unseasonable weather, drought, wildfire and other natural phenomena, explosions, fires, accidents, vandalism, or mechanical breakdowns that may occur while operating and maintaining an electric and natural gas system, their ability to purchase sufficient fuel, natural gas and power to meet their power demands and natural gas demands for Sierra Pacific Power Company d/b/a NV Energy, financial market conditions, and unfavorable rulings, penalties or findings in their rate or other cases. Further risks, uncertainties and assumptions that may cause actual results to differ from current expectations pertain to weather conditions, customer and sales growth, plant outages, operations and maintenance expense, depreciation and allowance for funds used during construction, interest rates and expense, cash flow and regulatory matters. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of NV Energy, Inc., Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy are contained in their Annual Reports on Form 10-K for the year ended December 31, 2012, and quarterly reports on Form 10-Q for the period ended March 31, 2013, filed with the Securities and Exchange Commission. NV Energy, Inc., Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy undertake no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE NV Energy, Inc.
Copyright 2013 PR Newswire
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