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BKH - Black Hills News Story

$67.42 -1.2  -1.8%

Last Trade - 05/05/21

Sector
Utilities
Size
Large Cap
Market Cap £3.05bn
Enterprise Value £5.83bn
Revenue £1.29bn
Position in Universe 1555th / 6849

Black Hills Corp. Utility Subsidiaries Announce First Mortgage Bonds for New Power Plant

Tue 1st July, 2014 12:01am

http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20140701:nHUGYp0PDa 
 
Black Hills Corp. Utility Subsidiaries Announce First Mortgage Bonds for New Power Plant

RAPID CITY, S.D. - June 30, 2014 - Black Hills Corp. (NYSE: BKH) today announced that its Black
Hills Power and Cheyenne Light Fuel & Power electric utility subsidiaries entered into Bond
Purchase Agreements, dated as of June 30, 2014, to authorize the sale of $160 million of first
mortgage bonds in a private placement for the Cheyenne Prairie Generating Station financing. 

Black Hills Power will issue $85 million of 4.43% first mortgage bonds due Oct. 20, 2044. Cheyenne
Light will issue $75 million of 4.53% first mortgage bonds due Oct. 20, 2044. The closing date for
the sale of the first mortgage bonds for both utilities is anticipated Oct. 1, 2014.

The proceeds from the $160 million sale of first mortgage bonds will provide financing for the
Cheyenne Prairie Generating Station, a $222 million power plant being built in Cheyenne, Wyo. The
new power plant will serve customers for both Black Hills Power and Cheyenne Light. 

"This agreement allows us to lock in some of the lowest interest rates we have experienced over
the last 35 years," said Tony Cleberg, executive vice president and chief financial officer of
Black Hills Corp. "The benefit of low interest rates reduces the cost of electricity for our
customers."

ABOUT BLACK HILLS CORP.
Black Hills Corp. (NYSE: BKH) is a growth-oriented, vertically-integrated energy company with a
tradition of exemplary service and a vision to be the energy partner of choice. Based in Rapid
City, S.D., the company serves 777,000 natural gas and electric utility customers in Colorado,
Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. The company generates wholesale
electricity and produces natural gas, oil and coal. Black Hills Corp.'s 1,948 employees partner to
produce results that are improving life with energy. More information is available at
www.blackhillscorp.com http://www.blackhillscorp.com/ . 
 
 Investor Relations:                     
 Jerome E. Nichols         605-721-1171  
                                         
 Media Contact:                          
 24-hour Media Assistance  866-243-9002  
 
 
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This news release includes "forward-looking statements" as defined by the Securities and Exchange
Commission, or SEC. We make these forward-looking statements in reliance on the safe harbor
protections provided under the Private Securities Litigation Reform Act of 1995. All statements,
other than statements of historical facts, included in this news release that address activities,
events or developments that we expect, believe or anticipate will or may occur in the future,
including statements regarding the sale of the bonds and the closing dates, are forward-looking
statements. These forward-looking statements are based on assumptions which we believe are
reasonable based on current expectations and projections about future events and industry
conditions and trends affecting our business. However, whether actual results and developments
will conform to our expectations and predictions is subject to a number of risks and uncertainties
that, among other things, could cause actual results to differ materially from those contained in
the forward-looking statements, including the factors discussed above, the risk factors described
in Item 1A of Part I of our 2013 Annual Report on Form 10-K filed with the SEC, and other reports
that we file with the SEC from time to time.

New factors that could cause actual results to differ materially from those described in forward
looking statements emerge from time-to-time, and it is not possible for us to predict all such
factors, or the extent to which any such factor or combination of factors may cause actual results
to differ from those contained in any forward-looking statement. We assume no obligation to update
publicly any such forward-looking statements, whether as a result of new information, future
events or otherwise. 
 

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX
Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content,
accuracy and originality of the information contained therein.
Source: Black Hills Corporation via Globenewswire


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