By Lisa Kerner
Charlotte, N.C., Oct. 22 – NorthWestern Corp., doing business as NorthWestern Energy, used a combination of bonds, equity and short-term borrowings to purchase the 80 MW Beethoven wind qualifying facility project near Tripp, S.D., for $143 million from BayWa r.e. Wind LLC.
The company issued $70 million of 4.26% South Dakota first mortgage bonds due 2040 in a private placement in September.
NorthWestern completed the equity transaction in October through the issuance of 1.1 million shares of common stock at $51.81 per share for a total of about $57 million, according to a 10-Q filing with the Securities and Exchange Commission.
As previously reported, the Beethoven purchase includes 43 turbines and the rights to a 50 MW expansion site adjacent to the existing facility.
NorthWestern is an electricity and natural gas provider based in Sioux Falls, S.D.
| Issuer: | NorthWestern Corp.
|
| Issue: | South Dakota first mortgage bonds
|
| Amount: | $70 million
|
| Coupon: | 4.26%
|
| Maturity: | 2040
|
| Distribution: | Private placement
|
| Settlement: | September
|
|
|
| Issue: | Shares
|
| Amount: | $56,991,000
|
| Amount: | 1.1 million
|
| Price per share: | $51.81
|
| Settlement: | October
|
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