By Lisa Kerner
Charlotte, N.C., July 24 - NorthWestern Corp. priced $60 million of fixed-rate 4.3% 40-year Montana and South Dakota first mortgage bonds in May.
Also in May, the company priced $90 million of fixed-rated 4.15% 30-year Montana and South Dakota first mortgage bonds.
The company expects to issue the bonds in August, according to a 10-Q filing with the Securities and Exchange Commission.
Proceeds will be used to repay commercial paper borrowings and to fund strategic growth investment opportunities, the filing said.
The bonds will be secured by NorthWestern's electric and natural gas assets.
NorthWestern is an electricity and natural gas provider based in Butte, Mont.
| Issuer: | NorthWestern Corp.
|
| Issue: | Fixed-rate Montana and South Dakota first mortgage bonds
|
| Pricing: | May
|
| Settlement: | August
|
|
|
| 40-year bonds
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| Amount: | $60 million
|
| Maturity: | 2052
|
| Coupon: | 4.3%
|
|
|
| 30-year bonds
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| Amount: | $90 million
|
| Maturity: | 2042
|
| Coupon: | 4.15%
|
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