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, 2 nd 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.