By Sheri Kasprzak
New York, Feb. 24 - Energy Northwest of Washington State sold $470.69 million in series 2010 revenue refunding bonds Wednesday, according to a pricing sheet.
The full details of the offering were not immediately available.
Goldman Sachs & Co., Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. were the senior managers. The co-managers included Prager, Sealy & Co. and Bank of America Merrill Lynch.
The offering included $68.35 million in series A project 1 bonds, $279.67 million in series 2010A project 3 bonds, $1 million in series 2010B project 1 bonds, $15.615 million in series 2010B Columbia Generating Station bonds, $29.93 million in series 2010B project 3 bonds and $76.125 million in series 2010C Columbia Generating Station bonds.
The 2010A project 1 bonds are due 2011 to 2017 with 2% to 5% coupons. The 2010A project 3 bonds are due 2016 to 2018 with 5% coupons. The 2010B project 1 bonds are due 2011 with a 2% coupon. The 2010B project 3 bonds are due 2016 with a 5% coupon. The 2010B Columbia bonds are due 2020 to 2024 with 3.75% to 4.25% coupons. The 2010C Columbia bonds are due 2020 to 2024 with 4.524% to 5.124% coupons, all priced at par.
Proceeds will be used to refund existing debt issued to construct several power generation stations.
| Issuer: | Energy Northwest
|
| Issue: | Series 2010 revenue refunding bonds
|
| Amount: | $470.69 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman Sachs & Co., Citigroup Global Markets Inc., J.P. Morgan Securities Inc. (leads), Prager, Sealy & Co. and Bank of America Merrill Lynch (co-managers)
|
| Pricing date: | Feb. 24
|
|
|
| Series 2010A project 1 bonds
|
| Maturity | Type | Coupon
|
| 2011 | Serial | 2%
|
| 2012 | Serial | 2.5%
|
| 2012 | Serial | 3%
|
| 2012 | Serial | 5%
|
| 2013 | Serial | 3%
|
| 2013 | Serial | 4%
|
| 2013 | Serial | 5%
|
| 2014 | Serial | 3%
|
| 2014 | Serial | 4%
|
| 2014 | Serial | 5%
|
| 2015 | Serial | 3%
|
| 2015 | Serial | 4%
|
| 2016 | Serial | 3%
|
| 2016 | Serial | 4%
|
| 2017 | Serial | 3%
|
| 2017 | Serial | 4%
|
|
|
| Series 2010A project 3
|
| Maturity | Type | Coupon
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 5%
|
|
|
| Series 2010B project 1
|
| Maturity | Type | Coupon
|
| 2011 | Term | 2%
|
|
|
| Series 2010B project 3
|
| Maturity | Type | Coupon
|
| 2016 | Term | 5%
|
|
|
| Series 2010B Columbia Generating Station bonds
|
| Maturity | Type | Coupon
|
| 2020 | Serial | 3.75%
|
| 2021 | Serial | 3.875%
|
| 2022 | Serial | 4%
|
| 2023 | Serial | 4.125%
|
| 2024 | Serial | 4.25%
|
|
|
| Series 2010C Columbia Generating Station bonds
|
| Maturity | Type | Coupon | Price
|
| 2020 | Serial | 4.524% | 100
|
| 2021 | Serial | 4.674% | 100
|
| 2022 | Serial | 4.824% | 100
|
| 2023 | Serial | 4.974% | 100
|
| 2024 | Serial | 5.124% | 100
|
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