By Sheri Kasprzak
New York, March 10 - Energy Northwest of Washington State sold $431.98 million of series 2011 revenue refunding bonds on Thursday, said a pricing sheet. The deal was upsized from $368.895 million.
The deal includes $310.23 million of series 2011A Columbia Generating Station electric revenue refunding bonds, $91.83 million of series 2011A Project 3 revenue refunding bonds and $29.92 million of series 2011B Columbia Generating Station electric revenue refunding bonds.
The 2011A Columbia bonds are due 2013 to 2017 and 2021 to 2023 with coupons from 3% to 5%. The 2011A Project 3 bonds are due July 1, 2018 with a split maturity. The bonds have a 4% coupon priced at 107.538 and a 5% coupon priced at 114.039. The 2011B Columbia bonds are due 2019 and 2023 to 2024 with coupons from 4.19% to 5.19%, all priced at par.
Citigroup Global Markets Inc., Goldman, Sachs & Co. and J.P. Morgan Securities LLC were the senior managers with Bank of America Merrill Lynch and Prager, Sealy & Co. LLC as the co-managers.
Proceeds will be used to refund existing debt.
| Issuer: | Energy Northwest
|
| Issue: | Series 2011 revenue refunding bonds
|
| Amount: | $431.98 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc., Goldman, Sachs & Co. and J.P. Morgan Securities LLC (lead), Bank of America Merrill Lynch and Prager, Sealy & Co. LLC (co-managers)
|
| Pricing date: | March 10
|
| Settlement date: | April 5
|
|
|
| $310.23 million series 2011A Columbia Generating Station revenue refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.31 million | 2013 | Serial | 3% | 104.302
|
| $5.47 million | 2014 | Serial | 4% | 108.104
|
| $5.685 million | 2015 | Serial | 4% | 108.681
|
| $5.915 million | 2016 | Serial | 4% | 109.169
|
| $6.15 million | 2017 | Serial | 5% | 114.666
|
| $26.545 million | 2021 | Serial | 5% | 113.177
|
| $3.36 million | 2022 | Serial | 4% | 102.704
|
| $133.345 million | 2022 | Serial | 5% | 111.17
|
| $20 million | 2023 | Serial | 3% | NRO
|
| $750,000 | 2023 | Serial | 4.5% | 105.365
|
| $97.705 million | 2023 | Serial | 5% | 109.56
|
|
|
| $91.83 million series 2011A Project 3 revenue refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.45 million | 2018 | Serial | 4% | 107.538
|
| $89.38 million | 2018 | Serial | 5% | 114.039
|
|
|
| $29.92 million series 2011B Columbia Generating Station revenue refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $10.595 million | 2019 | Serial | 4.19% | 100
|
| $1.625 million | 2023 | Serial | 4.99% | 100
|
| $17.7 million | 2024 | Serial | 5.19% | 100
|
© 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.
