Nevada Power to Redeem Preferred Securities

Some $70 million is outstanding.
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Sierra Pacific Resources (SRP) said its NVP Capital III unit will redeem all of its outstanding 7.75% trust issued preferred securities on June 7.

On May 8, the aggregate principal amount of outstanding preferred securities was $70 million.

The preferred security will be redeemed at $25 a security together with the accrued and unpaid distribution as of redemption, the Reno, Nev.-based company said.

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