SPOKANE, Wash., Feb. 14, 2011 /PRNewswire/ -- Avista Corp. (NYSE:
AVA) today announced that it has entered into a $400 million four-year committed line of credit,
replacing the $320 million and
$75 million committed line of credit
agreements that were scheduled to expire on April 5, 2011. The new line of credit expires on
Feb. 11, 2015. The banks included in
the new line of credit are Union Bank, N.A. as Administrative Agent
and an Issuing Bank, Wells Fargo Bank National Association as
Syndication Agent and an Issuing Bank, and The Bank of New York
Mellon, Keybank National Association and U.S. Bank National
Association as Co-Documentation Agents and other lenders.
"We are extremely pleased to be able to renew our credit
facility for a four-year time period. It reinforces the
financial health of the company and the strong relationship we have
with our banking partners," said Mark
Thies, Avista Corp. senior vice president and chief
financial officer. "The renewed credit facility will provide
continued financial flexibility needed as we fund significant
investments in maintaining and enhancing our energy delivery
systems to continue providing safe, reliable service to our
customers.
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 electric service to 357,000 customers and
natural gas to 316,000 customers. Our service territory covers
30,000 square miles in eastern Washington, northern Idaho and parts of southern and eastern
Oregon, with a population of 1.5
million. 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
www.avistacorp.com.
Avista Corp. and the Avista Corp. logo are trademarks of Avista
Corporation.
SOURCE Avista Corp.