Energy Northwest, Wash., plans $376.1 million sale of refunding bonds

By Sheri Kasprzak

New York, March 20 - Energy Northwest in Washington State plans to sell $376.1 million in series 2009 revenue refunding bonds, according to a preliminary official statement.

The sale includes $47.985 million in series 2009A project 1 electric revenue refunding bonds, $116.685 million in series 2009A Columbia Generating Station electric revenue refunding bonds and $119.48 million in series 2009A project 3 electric revenue refunding bonds.

The deal also includes $1.45 million in series 2009B taxable project 1 electric revenue refunding bonds, $20.515 million in series 2009B Columbia Generating Station electric revenue refunding bonds and $1.305 million in series 2009B project 3 electric revenue refunding bonds.

The sale also includes $68.68 million in series 2009C Columbia Generating Station electric revenue refunding bonds.

The 2009A project 1 bonds are due 2014 to 2015, the 2009A Columbia bonds are due 2014 to 2018 and the 2009A project 3 bonds are due 2014 to 2018.

The 2009B project 1 bonds are due 2014, the 2009B Columbia bonds are due 2014, 2023 and 2024, and the 2009B project 3 bonds are due 2014. The 2009C bonds are due 2020 to 2024.

The bonds (Aaa/AA/AA) will be sold on a negotiated basis with Citigroup Global Markets Inc. and Goldman, Sachs & Co. as the senior managers. The co-managers are J.P. Morgan Securities Inc.; Prager, Sealy & Co. LLC; and Merrill Lynch & Co. Inc.

The offering is expected to price in April.

Proceeds will be used to refund electric revenue bonds issued for the Columbia Generating Station, project 1 and project 3 operating costs.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.