By Andrea Heisinger
New York, Oct. 19 - Great River Energy priced $400 million 4.478% first mortgage bonds due 2030 on Tuesday to yield Treasuries plus 200 basis points, a source said late in the day.
The Rule 144A notes (A3/A-/A-) priced at par to yield 4.478%. They have a make-whole call at Treasuries plus 30 bps.
Bookrunners were J.P. Morgan Securities LLC, Mitsubishi UFJ Securities and Scotia Capital (USA) Inc.
The electric cooperative is based in Maple Grove, Minn.
| Issuer: | Great River Energy
|
| Issue: | First mortgage bonds
|
| Amount: | $400 million
|
| Maturity: | July 1, 2030
|
| Bookrunners: | J.P. Morgan Securities LLC, Mitsubishi UFJ Securities, Scotia Capital (USA) Inc.
|
| Coupon: | 4.478%
|
| Price: | Par
|
| Yield: | 4.478%
|
| Spread: | Treasuries plus 200 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Distribution: | Rule 144A
|
| Trade date: | Oct. 19
|
| Settlement date: | Oct. 22
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Fitch: A-
|
© 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.
