Published on 8/5/2014 in the Prospect News Municipals Daily.
New Issue: Energy Northwest, Wash., brings to market $269.84 million electric bonds
By Sheri Kasprzak
New York, Aug. 5 – Energy Northwest of Washington State sold $269.84 million of series 2014C electric revenue refunding bonds, according to a pricing sheet.
The bonds were sold through joint bookrunners J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Goldman, Sachs & Co. and BofA Merrill Lynch.
The deal included $197,535,000 of series 2014C Project 1 bonds and $72,305,000 of series 2014C Project 3 bonds.
The Project 1 bonds are due 2025 to 2027 with 5% coupons. The Project 3 bonds are due July 1, 2028 and have a 5% coupon priced at 117.801.
Proceeds will be used to repay a line of credit issued in June of 2014 and a Project 1 note due July 1, 2014.
| Issuer: | Energy Northwest
|
| Issue: | Series 2014C electric revenue refunding bonds
|
| Amount: | $269.84 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Goldman, Sachs & Co. and BofA Merrill Lynch (bookrunners)
|
| Pricing date: | Aug. 5
|
| Settlement date: | Aug. 21
|
|
|
| $197,535,000 series 2014C Project 1 bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $62.66 million | 2025 | Serial | 5% | 120.368
|
| $65,795,000 | 2026 | Serial | 5% | 119.41
|
| $69.08 million | 2027 | Serial | 5% | 118.649
|
|
|
| $72,305,000 series 2014C Project 3 bonds
|
| Maturity | Type | Coupon | Price
|
| July 1, 2028 | Term | 5% | 117.801
|
|
|
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