Avista sells two series of first mortgage bonds; 80% vote-threshold change fails
Avista Corporation sold two series of first mortgage bonds on May 14, 2026, under a private placement bond purchase agreement, with a further $70.0 million expected in August 2026. At its May 14, 2026 annual meeting, shareholders elected all eleven directors and approved three of four proposals, but did not approve the charter amendment to lower the shareholder approval requirement from 80% to a majority.
Key points
- Issued $90.0 million of 4.77% first mortgage bonds due 2029 and $70.0 million of 6.10% first mortgage bonds due 2056 on May 14, 2026
- Expects to issue an additional $70.0 million of 6.10% bonds in August 2026; proceeds to refinance existing debt and fund utility capital expenditures
- Proposal 4 to reduce the approval threshold from 80% to a majority failed; it received 64,317,253 votes for, short of the 80% required
- All eleven directors were elected; Deloitte & Touche LLP ratification and the advisory say-on-pay vote were approved
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:38 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 19, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.