Public Utility District No. 1 of Chelan County, Wash., to sell $189.33 million refunding bonds

By Sheri Kasprzak

New York, April 29 - The Public Utility District No. 1 of Chelan County in Washington State plans to bring to market $189.33 million of series 2011 refunding bonds, according to a preliminary official statement.

The sale includes $114.735 million of series 2011A AMT bonds and $74.595 million of series 2011B AMT bonds.

The bonds (Aa2/AA/AA+) will be sold on a negotiated basis with Barclays Capital Inc. as the senior manager. The co-managers are J.P. Morgan Securities LLC, Morgan Stanley & Co. Inc. and Merrill Lynch.

The 2011A bonds are due 2012 to 2026 with term bonds, the maturities of which have not been set. The 2011B bonds are due 2012 to 2026, also with term bonds.

Proceeds will be used to refund senior consolidated system bonds.

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