Energy Northwest, Wash., to sell $376.1 million revenue bonds Tuesday

By Sheri Kasprzak

New York, March 30 - Energy Northwest of Washington State will price $376.1 million in series 2009 revenue refunding bonds (Aaa/AA/AA) Tuesday, according to a calendar of upcoming sales.

The offering includes $47.985 million in series 2009A project 1electric revenue refunding bonds; $116.685million in series 2009A Columbia Generating Station electric revenue refunding bonds; $119.48 million in series 2009A project 3 electric revenue refunding bonds; $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; $1.305 million in series 2009B project 3 electric revenue refunding bonds; and $68.68 million in series 2009C Columbia Generating Station electric revenue refunding bonds.

Citigroup Global Markets Inc. and Goldman, Sachs & Co. are the senior managers in the negotiated deal. The co-managers include J.P. Morgan Securities Inc.; Prager, Sealy & Co. LLC; and Merrill Lynch & Co. Inc.

The 2009A project 1 bonds are due 2014 to 2015, the 2009A Columbia Generating 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 Generating bonds are due 2014, 2023 and 2024 and the 2009B project 3 bonds are due 2014. The 2009C bonds are due 2020 to 2024.

Proceeds will be used for maintenance costs for project 1, Columbia Generating Station and project 3 programs.

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