Energy Northwest intends to price $697.17 million refunding bonds in seven tranches

By Cristal Cody

Springdale, Ark., March 13 - Energy Northwest in Washington state plans to price $697.17 million refunding bonds on March 25, a source confirmed Thursday.

The bonds (Aaa/AA-/AA-) will be issued in seven tranches:

• $308.425 million series 2008-A project 1 electric revenue refunding bonds, due 2010 through 2017

• $241.325 million series 2008-A Columbia Generating Station electric revenue bonds, due 2010 to 2012 and 2014 to 2018

• $79.875 million series 2008-A project 3 electric revenue refunding bonds, due 2010, 2011, 2017 and 2018

• $5.65 million series 2008-B taxable project 1 electric revenue refunding bonds, due 2009 and 2010

• $20.515 million series 2008-B taxable Columbia Generating Station electric revenue and refunding bonds, due 2009, 2010 and 2021

• $3.205 million series 2008-B taxable project 3 electric revenue refunding bonds, due 2009 and 2010

• $38.175 million series 2008-C Columbia Generating Station electric revenue bonds, due 2021 through 2024.

Goldman, Sachs & Co. is the senior manager, with Citi, JPMorgan, Prager, Sealy & Co. and UBS Investment Bank serving as co-managers.

Proceeds will be used to refund prior lien bonds and electric revenue bonds and capital improvements at Columbia Generating Station, a nuclear power station.

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