Energy Northwest, Wash., intends to sell $421.78 million revenue and refunding bonds

By Sheri Kasprzak

New York, May 27 - Energy Northwest of Washington State is set to price $421.78 million of revenue and refunding bonds, according to a preliminary official statement.

The deal includes $3.085 million of series 2011C Columbia Generating Station taxable electric revenue bonds, $156.02 million of series 2012A Project 1 electric revenue refunding bonds, $194.53 million of series 2012A Columbia Generating Station electric revenue refunding bonds and $68.145 million of series 2012A Project 3 electric revenue refunding bonds.

The bonds will be sold through Citigroup Global Markets Inc. and Bank of America Merrill Lynch.

The 2011C Columbia Generating Station taxable bonds are due July 1, 2019. The 2012A Project 1 refunding bonds are due 2013 to 2017, and the 2012A Columbia Generating Station refunding bonds are due 2018 to 2021. The 2012A Project 3 bonds are due July 1, 2018.

Proceeds will be used to pay costs associated with operating the Columbia Generating Station and refund existing Project 1, Columbia Generating Station and Project 3 revenue bonds.

Based in Richland, Wash., Energy Northwest is an electric utility.

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