Avista Corp. Closes New $200 Million Line of Creditadmin
Avista Corp. has closed on a $200 million, 364-day line of credit, which expires on Nov. 24, 2009. The credit facility is with a group of banks, including Union Bank of California, N.A., as administrative agent, Wells Fargo Bank, National Association, as syndication agent and JP Morgan Chase Bank, N.A., as documentation agent.
“We are very pleased to have this credit facility in place, especially during these challenging economic times,” said Mark Thies, Avista Corp. senior vice president and chief financial officer. “This credit facility will give us flexibility in accessing the capital markets in 2009. In addition, we will continue to utilize cash flow from our operations, long-term debt and common stock issuances to fund our capital investments and maturing debt.”
Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is our operating division that provides service to 352,000 electric and 310,000 natural gas customers in three Western states. Avista’s primary, non-regulated subsidiary is Advantage IQ. Our stock is traded under the ticker symbol “AVA.” For more information about Avista, please visit http://www.avistacorp.com.