Filed Pursuant to Rule 433
Registration Statement No. 333-151021
May 29, 2008
PRICING TERM SHEET
(to Preliminary Prospectus Supplement dated May 29, 2008)
Issuer: | El Paso Electric Company | |
Security: | 7.50% Senior Notes due 2038 | |
Legal Format: | SEC Registered | |
Size: | $150,000,000 | |
Trade Date: | May 29, 2008 | |
Expected Settlement Date: | June 3, 2008 | |
Maturity Date: | March 15, 2038 | |
Coupon: | 7.50% | |
Interest Payment Dates: | March 15 and September 15, commencing September 15, 2008 | |
Price to Public: | 99.146% | |
Net Proceeds to Issuer: | $147,406,500 | |
Benchmark Treasury: | 5.000% due May 15, 2037 | |
Benchmark Treasury Yield: | 4.774% | |
Spread to Benchmark Treasury: | + 280 basis points | |
Re-offer Yield: | 7.574% | |
Make-whole call: | At any time at a discount rate of Treasury plus 50 basis points | |
CUSIP: | 283677AX0 | |
Anticipated Ratings: | Moody’s | Baa2 |
| S&P | BBB |
Sole Book-Running Manager: | Credit Suisse Securities (USA) LLC | |
Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, the underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Credit Suisse Securities (USA) LLC toll free at 800-221-1037.
