Tri-State Generation and Transmission Association, Inc. Considering Refinancing of Certain Debt
WESTMINSTER, Colo., Oct. 17, 2014 /PRNewswire-USNewswire/ -- Tri-State Generation and Transmission Association, Inc. announced today that it is contemplating a debt refinancing that would allow it to prepay all currently outstanding loans owed directly to or guaranteed by the U.S. Department of Agriculture's Rural Utilities Service, as well as certain other debt.
The proposed refinancing is expected to consist of a number of different transactions and would refinance approximately $1.4 billion in aggregate principal amount of secured debt, including nearly $1.3 billion of loans guaranteed by the Rural Utilities Service. The company has already entered into agreements to sell $750 million aggregate principal amount of first mortgage notes maturing through 2045 to certain institutional investors. The company intends to complete the debt refinancing in November 2014.
About Tri-State Generation and Transmission Association, Inc.
Tri-State Generation and Transmission Association, Inc. is a taxable wholesale electric generation and transmission cooperative operating on a not-for-profit basis serving more than 1.5 million consumers through 44 electric cooperatives and public power districts in Colorado, Nebraska, New Mexico, and Wyoming. The company's headquarters are in Westminster, Colorado. Additional information about the company is available on its website at www.tristategt.org.
Forward-Looking Statements
This press release contains forward-looking statements concerning Tri-State's future financing plans. The terms and timing of any actual financing transactions will depend upon prevailing market conditions and other factors. There can be no assurance that the financing transactions discussed in this press release will be completed on the terms outlined herein or at all.
SOURCE Tri-State Generation and Transmission Association
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