Item 8.01 Other Events
On September 28, 2012, the Company received commitments in connection with a
private placement by the Company of $30.0 million of 3.73% First Mortgage Bonds
due 2033 and $120.0 million of 4.32% First Mortgage Bonds due 2043. Although no
definitive agreements have been entered into at this time, we expect to enter
into such agreements on or about October 15, 2012. The settlement is
anticipated to occur on or about May 30, 2013, subject to customary closing
conditions. The Company expects to use the proceeds from the sale of the bonds
to redeem all $98,000,000 aggregate principal amount of the Company's Senior
Notes, 4.50% Series due June 15, 2013 with the remaining proceeds to be used for
general corporate purposes.
The bonds have not been registered under the Securities Act of 1933, as amended,
and may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements. This Current Report on
Form 8-K shall not constitute an offer to sell or the solicitation of an offer
to buy any security.
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