Puget Sound Energy note proceeds to fund $25 million bond redemption

By Ashley Montgomery

Kansas City, Kan., Nov. 17 - Puget Sound Energy Inc. said it would use the proceeds from its $45 million offering of 4.7% senior notes due 2051 to redeem $25 million principal amount of its 9.57% first mortgage bonds due Sept 1, 2020.

Any excess proceeds will be used to repay borrowings under the company's capital expenditure credit facility.

The senior notes were priced Thursday.

The electric and natural gas utility is based in Bellevue, Wash.

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