SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 15, 2001
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Sierra Pacific Power Company
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(Exact name of registrant as specified in its charter)
Nevada
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(State of incorporation or organization)
0-508 8-0044418
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(Commission File Number) (I.R.S. Employer
Identification No.)
P.O. Box 10100 (6100 Neil Road), Reno, Nevada 89520-0400
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (702) 689-4011
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Item 5. Other Events.
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Sierra Pacific Power Company (the "Company") has successfully completed its
consent solicitation of the holders of its Class A, Series 1 Preferred Stock.
The consent solicitation expired at 5:00 PM, Eastern Standard Time, on Thursday,
February 15, 2001.
Based on preliminary information, the holders of 91.5% of the Company's
preferred stock gave consent for the Company to issue up to $400 million in
long-term unsecured indebtedness in excess of its present charter limitation.
Prior to the consent, the Company's Restated Articles of Incorporation required
the consent of the holders of a majority of the total number of shares of the
Company's preferred stock in order to issue unsecured debt securities with
maturities of greater than 12 months for any purpose (other than refunding
outstanding unsecured debt or retiring outstanding shares of preferred stock) if
such unsecured indebtedness would exceed 20% of the aggregate of (a) the total
principal amount of all bonds and other securities representing secured
indebtedness then outstanding and (b) the total capital and surplus of the
Company then stated on its books. Based on September 30, 2000 financial
information, this charter limitation permitted the Company to have issued a
total of $263.9 million of long-term unsecured debt, of which $250 million is
currently outstanding.
The Company will make a special participation premium payment in the amount
of $.50 per share consented, to each holder of record on the record date whose
duly executed and valid non-revoked consent was received on or before the
expiration of the consent period.
Questions regarding the consent solicitation should be directed to the
Information Agent, CIC/Georgeson Shareholder Communications Inc. at 800-223-
2064.
Item 7. Financial Statements and Exhibits.
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(a) Financial Statements of Businesses Acquired.
Not required
(b) Pro forma financial information.
Not required
(c) Exhibits.
None
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SIERRA PACIFIC POWER COMPANY
Date: February 21, 2001 By: /s/ Richard K. Atkinson
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Richard K. Atkinson
Treasurer and Investor Relations Officer
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