New Issue: Grant County Public Utility, Wash., sells $67.78 million electric bonds

By Sheri Kasprzak

New York, Sept. 5 - The Grant County Public Utility District No. 2 of Washington state sold $67,775,000 of series 2013J electric system revenue refunding bonds, said a pricing sheet.

The bonds (Aa3/AA/AA) were sold through J.P. Morgan Securities LLC and Citigroup Global Markets Inc.

The bonds are due 2024 to 2033 with term bonds due in 2038 and 2041. The serial bonds have 5% coupons. The 2038 bonds have a 5% coupon and priced at 99.158, and the 2041 bonds have a 5% coupon and priced at 98.238.

Proceeds will be used to fund a portion of the district's series 2011 electric system revenue bonds.

Issuer:	Grant County Public Utility District No. 2, Wash.
Issue:	Series 2013J electric system revenue refunding bonds
Amount:	$67,775,000
Type:	Negotiated
Underwriters:	J.P. Morgan Securities LLC and Citigroup Global Markets Inc. (lead)
Ratings:	Moody's: Aa3
	Standard & Poor's: AA
	Fitch AA
Pricing date:	Sept. 5
Settlement date:	Sept. 18
Amount	Maturity	Type	Coupon	Price
$2.41 million	2024	Serial	5%	110.241
$2.53 million	2025	Serial	5%	108.532
$2,655,000	2026	Serial	5%	107.189
$2.79 million	2027	Serial	5%	105.619
$2.93 million	2028	Serial	5%	104.722
$3,075,000	2029	Serial	5%	103.595
$3.23 million	2030	Serial	5%	102.561
$3.39 million	2031	Serial	5%	101.853
$3.56 million	2032	Serial	5%	101.228
$3,735,000	2033	Serial	5%	100.762
$21.68 million	2038	Term	5%	99.158
$15.79 million	2041	Term	5%	98.238

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