El Paso Electric Company $150 Million Senior Notes Offering
Hunton & Williams LLP advised J.P. Morgan Securities LLC and Mitsubishi UFJ Securities (USA), Inc. , as joint book-running managers on an SEC-registered offering by El Paso Electric Company (“EPE” or the “Company”) of $150 million aggregate principal amount of its senior notes due 2044.
EPE is a public utility engaged in the generation, transmission and distribution of electricity in an area of approximately 10,000 square miles in west Texas and southern New Mexico. EPE serves a full requirements wholesale customer in Texas. EPE owns or has significant ownership interests in several electrical generating facilities, currently providing the Company with a net dependable generating capability of approximately 1,872 MW. For the year ended December 31, 2013, EPE’s energy sources consisted of approximately 46% nuclear fuel, 34% natural gas, 6% coal, 14% purchased power and less than 1% generated by Company-owned solar photovoltaic panels and wind turbines. The Company’s current generation portfolio exhibits lower carbon intensity than any other utility in the southwestern United States and the Company continues to expand its portfolio of renewable energy sources, particularly solar photovoltaic generation. As of December 31, 2013, the Company has power purchase agreements for 107 MW from solar photovoltaic generation facilities.
The Hunton & Williams LLP team included Peter O’Brien, Christina Kwon and Gretel Martinez.
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