Energy Northwest of Oregon to sell $273.27 million revenue refunding bonds

By Sheri Kasprzak

New York, May 9 - Energy Northwest in Oregon plans to price $273.27 million in series 2008D and 2008E revenue refunding bonds (//AA-), a preliminary official statement said Friday.

The sale includes $72.31 million in series 2008D project 1 electric revenue refunding bonds, $127.955 million in series 2008D Columbia Generating Station electric revenue refunding bonds, $64.54 million in series 2008D project 3 electric revenue refunding bonds, $2.17 million in series 2008E project 1 electric revenue refunding bonds, $3.685 million in Columbia Generating Station electric revenue refunding bonds and $2.61 million in series 2008E project 3 electric revenue refunding bonds.

The 2008D project 1 bonds are due from 2009 to 2017, the 2008D Columbia Generating Station bonds are due from 2010 to 2012 and the 2008D project 3 bonds are due from 2009 to 2017. All of the 2008E bonds are due 2009.

The bonds will be sold on a negotiated basis with Goldman, Sachs & Co. and Citigroup Global Markets as the lead managers. The co-managers are JPMorgan and Prager, Sealy & Co.

Calls to the issuer for the pricing date were not immediately returned Friday.

Proceeds will be used to refund prior bonds.

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