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Avista Corp. Extends Consent Solicitation With Respect to Its 9.75% Senior Notes Due June 1, 2008

SPOKANE, Wash., July 21 // -- Avista Corp. (NYSE: AVA) today announced that it has extended the expiration date for its consent solicitation with respect to its 9.75% Senior Notes due June 1, 2008 (the "Notes") to 5:00 p.m., New York City time, on July 27, 2006, unless such date is further extended or the consent solicitation is terminated by Avista Corp.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040128/SFW031LOGO )

The detailed terms and conditions of the consent solicitation are contained in a consent solicitation statement, dated July 10, 2006. Except for the extension of the expiration date, all terms and conditions of the consent solicitation are unchanged and remain in full force and effect.

Notwithstanding any other provision of the consent solicitation, Avista Corp.'s obligation to pay the consent payments is conditioned upon receipt of the requisite consents and the effectiveness of the requisite consents in accordance with the terms of the indenture governing the Notes, consummation of the share exchange and satisfaction of the no conflict condition. If any of the conditions to the consent solicitation are not satisfied or waived or the consent solicitation is otherwise terminated for any reason, any consents that have been validly delivered will be voided and the consent payments payable in the consent solicitation will not be made to any holder of Notes.

This announcement is for informational purposes only and does not constitute a solicitation of consents. The consent solicitation is being made solely by means of the consent solicitation statement and the related consent letter. Requests for documents may be directed to Georgeson Shareholder Communications, Inc., the information agent, by telephone at 800-509-1303 (toll-free) or 212-440-9800. Questions regarding the consent solicitation may be directed to Goldman, Sachs & Co., the solicitation agent, at 800-828-3182 (toll-free) or 212-357-7867.

Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is a company operating division that provides service to 338,000 electric and 297,000 natural gas customers in three western states. Avista Corp.'s non-regulated subsidiaries include Avista Advantage and Avista Energy. Avista Corp.'s stock is traded under the ticker symbol "AVA". For more information about Avista Corp., please visit http://www.avistacorp.com/ .

NOTE: Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation.

This press release contains forward-looking statements based on current management expectations. Numerous factors, including those related to market conditions and those detailed from time to time in Avista Corp.'s filings with the Securities and Exchange Commission, may cause results to differ materially from those anticipated in the forward-looking statements. Many of the factors that will determine Avista Corp.'s future results are beyond the ability of Avista Corp. to control or predict. These statements are subject to risks and uncertainties and, therefore, actual results may differ materially. Readers should not place undue reliance on forward-looking statements, which reflect management's views only as of the date hereof. Avista Corp. undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20040128/SFW031LOGO
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PRN Photo Desk photodesk@prnewswire.com

SOURCE: Avista Corp.

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